"Almost certainly woven for one of the Safavid kings, the 550-year-old textile retained a startling vibrancy; the leading artisans of the Islamic world had woven leaping birds and curling tendrils on 16 feet of rich red wool, dyed in pigments and carried thousands of miles across the Silk Road to the royal atelier in Qazvin, Northern Iran. And yet, it failed to make its reserve price,"
"In recent years, aging collectors, maturing museums and shifting capital have transformed a market which has always lacked a fixed definition. That elasticity has now allowed the market to reposition itself: traditional mainstays-such as Persianate paintings from the wider world of Persian-speaking courts stretching from modern Iraq to India-have diminished in focus and market share, while paintings from India and religious artefacts from historic Arab polities are on the rise."
A carpet made for the Shah of Iran in the early 17th century sold for almost $34m at Sotheby's in New York in 2013. A later sale of a 550-year-old Safavid carpet in London failed to reach its reserve despite exceptional condition and ornate design, signaling changing market fortunes. Aging collectors, evolving museum policies and shifting capital have transformed a flexible Islamic art market. Persianate paintings have declined in focus and market share, while paintings from India and religious artefacts from historic Arab polities are increasing in demand. Geopolitical sanctions restricting export of Iranian-origin works have further affected market dynamics.
Read at The Art Newspaper - International art news and events
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