RIYADH: When a painting by Saudi artist Safeya Binzagr sold for $2.1 million at Sotheby’s second auction in Riyadh in January, it marked a milestone for Saudi art on the global stage. The record-breaking sale signaled rising international interest, but it also raised an important question about what can help support a thriving art market in the Kingdom.
Government bodies like Riyadh Art and Misk Art, festivals like the Jeddah Islamic and Diriyah Contemporary Art Biennales, and international exhibitions like Desert X held at AlUla have all been a boon to the Kingdom’s arts and culture space.
Under the Kingdom’s Vision 2030 economic transformation plan, culture is to account for about 3 percent of the gross domestic product by the end of this decade, about SR180 billion ($48 billion). That eclipses its SR60 billion size in 2023, which was double pre-2018 levels.
The Kingdom’s art scene is nascent and growing, achieving milestones beyond the domestic market. This is evident in the clear interest of international auction houses that have showcased the works of Saudi artists.
“International appetite for Saudi artists is growing,” Ashkan Baghestani, Sotheby’s contemporary art specialist and head of the “Origins” sale, told Arab News. A third of the lots sold in “Origins II” went to local buyers, he said.
