DUBAI, United Arab Emirates— Diamond-studded pendant earrings worth more than half a million dollars are among items being sold at two Christie's auctions in Dubai this week, executives of the auction house said yesterday.

"We are witnessing a growing appetite for art in the region," Michael Jeha, managing director of Christie's in Dubai, told reporters.

"Last year's sale was a fantastic success ... and we are looking forward to increasing our presence in the Middle East."

An auction on Jan. 31 of jewelry and watches—the firm's first in the Middle East—will see 160 pieces by leading designers such as Cartier, Bulgari and Van Cleef and Arpel being sold, said David Warren, who is in charge of the sale.

One of the most stunning lots will be pear-shaped diamond pendant earrings valued at between $500,000 and $700,000, he said.

"It is not a local event but a major international auction" for Christie's, Warren said.

A separate auction of international modern and contemporary art will follow on Feb. 1, with 196 works by artists from the Arab world, India, Iran and the West, said Middle East art specialist William Lawrie.

He said the sale is expected to fetch more than the $7 to $9 million estimated value of the works.

The first Christie's art auction in the Middle East was also held in the booming Gulf city state of Dubai, a member of the United Arab Emirates, in May last year.

That sale brought in almost $8.5 million, with the highest bids going on Indian art.

Copyright 2007 Agence France Presse