The prestigious Sotheby's Auction House has announced the establishment of a new official headquarters in Riyadh, the capital of the Kingdom of Saudi Arabia, in recognition of the Kingdom’s important cultural status. It also announced the inaugural auction at the new house, to be held in February early next year in the historic city of Diriyah. This unprecedented event will represent the first global commercial auction ever in the history of the Kingdom.
The inaugural auction comes after Sotheby's officially obtained a license to establish an office in the Kingdom of Saudi Arabia at the end of last year. The office will be located in Al Faisaliah Tower, the first skyscraper in the Kingdom and one of the most prominent landmarks in Riyadh.
Titled “Origins,” the auction will take place on February 8, 2025, and is set to feature Sotheby’s global collection of rare and unique collectibles. Exhibits will include fine artworks by local Saudi artists alongside leading names in international art history, and luxury items including jewelry, watches, cars, sports memorabilia, and handbags. The auction’s contents will be displayed in a free public exhibition from February 1 to 8 before being sold at auction, creating an exceptional event that celebrates and appreciates art and culture.
Charles Stewart, CEO of Sotheby’s, emphasised the Kingdom’s status, stating, “The cultural sector in the Kingdom of Saudi Arabia is witnessing remarkable development and activity today. We at Sotheby’s have been visiting the Kingdom for several years, and we have closely followed this development and prosperity in the cultural scene, which prompted us to seriously consider establishing an actual and real presence here in Riyadh and to be one of the supporters of the Kingdom’s art scene. This presence will constitute an important milestone in the history of our relationship with the Kingdom. We look forward to holding this auction in a historical location that has cultural significance on both the Saudi and international levels.”
“The auction and exhibition will be hosted in the historic district of Diriyah, the beating heart of Saudi Arabia, where the Kingdom was founded two decades before Sotheby’s itself was founded in 1744,” Stewart added. “Today, Diriyah is at the heart of the Kingdom’s development, having transformed into a world-class cultural hub, hosting a wide range of historical events, and continuing its deep commitment to heritage preservation.”
CEO of Diriyah Gate Development Company, Jerry Inzerillo, expressed his delight at the announcement, saying: “We are extremely proud that Diriyah has been chosen as the venue for the first Sotheby’s international art auction in Saudi Arabia. There is no better place than a site with a history spanning three centuries of cultural excellence to host such a prestigious event in the Kingdom. Diriyah Gate Development Company has previously partnered with Sotheby’s International Realty to promote the initial launch of The Ritz-Carlton Residences in Diriyah, and I am confident that this will be the beginning of many future collaborations.”
This partnership reflects Sotheby’s appreciation for the role that Saudi Arabia plays in global culture, and the upcoming auction is expected to be a turning point in the Saudi cultural scene, launching a new era of major events that will contribute to attracting attention to the Kingdom as a global destination for culture and arts. This will also be an opportunity for Saudi talent to showcase their creativity to a wider multinational audience.
