Bonhams Holds First Middle East Auction

DUBAI—Bonhams is holding its first Middle East Auction in Dubai today, Bloomberg reports. The auction house is offering more than $5 million in art, including works by Iraq's Jewad Selim, Egypt's Ahmed Moustafa, Iran's Farhad Moshiri and India's Francis Newton Souza. Bonhams larger rival Christie's has held three auctions in Dubai over the past two years, selling $15 million at its most recent sale here, while Sotheby's has yet to stage an auction in the Middle East.

"We're appealing to new collectors, new buyers," said Matthew Girling, Bonhams's chief executive officer for Europe and the Middle East. "We're hoping to find new friends and new clients for Bonhams and start introducing them to the idea of buying at auction."