"Looking at the metrics, it is clear that Saudi is a market that is developing apace, with a young demographic, growing collector base and expanding art community," says Ashkan Baghestani, Sotheby's head of sale for fine art.
"The launch reflects the auction house's support for the country's burgeoning cultural scene, which will empower the large youth demographic of Saudi," says Sotheby's chief executive Charles F. Stewart.
Sotheby's is aiming to tap into the country's growing wealthy youth population, as those under 30 make up around two thirds of the population.
Between 2019 and 2023, Saudi buyers have leapt by 74% and bidders by 125%, capturing the explosive growth in this art market.
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