On 20 November, the walls of the One & Only Royal Mirage Hotel were splashed with colourful, contemporary, and occasionally controversial works

of art.

The auction tapped into the fact that collectors have been showing partiality towards indigenous pieces. The Bonhams European and Middle East Chief Executive, Matthew Girling, said, “We like to think we’re working as a bridge-builder between the traditional elites of the art world and a larger appreciative local audience.

“Iranian artists have risen to such prominence on the emerging art scene that we’ve dedicated 50 per cent of our November auction to museum-quality Iranian works.”

One such Iranian artist is Farhad Moshiri, who shattered records at Bonhams’ inaugural Middle East auction in March 2008, when he became the first Middle Eastern artist to achieve an auction sale of over $1 million with his striking piece, ‘Eshgh’ (Love) – a sale which also wrote Moshiri into record books as the highest achieving Iranian artist at auction.

His glittering piece, entitled ‘Angel’, certainly captivated a large audience. In contrast to the crystal background and simple, soft black lines, ruby droplets adorn the figure with jewels and striking scarlet lips.

Although the contemporary image may not look out of place in a tattoo parlour, the concept is common to Eastern and Western cultures; an angel as a protective force and messenger from God. The piece sold toward the lower bracket of its estimate ($250,000 – $350,000), with the hammer falling on $264,000.

Other contemporary Iranian masters accompanying Farhad Moshiri included Reza Derakshani, Korrosh Shishegaran and Pooran Jinchi. Paintings by Mohammed Ehsai, Reza Mafi and Marcos Grigorian were displayed alongside sculptures by Parviz Tanavoli, Jazeh Tabatabai and Bahman Dadkhah.

Five of Charles Hossein Zenderoudi’s works were also for sale. A co-founder of the Saqqakhaneh movement in the 1960s and one of Iran’s leading modernists, Zenderoudi is internationally renowned, having exhibited widely all over the world over the past 50 years.

"IRANIAN ARTISTS HAVE RISEN TO SUCH PROMINENCE ON THE EMERGING ART SCENE THAT WE’VE DEDICATED 50 PER CENT OF OUR NOVEMBER AUCTION TO MUSEUM-QUALITY IRANIAN WORKS."

“Zenderoudi’s paintings explore religious folk art and calligraphy in his rhythmic and poetic compositions of letters. His work had a significant influence on many contemporaries and subsequently on younger generations of artists,” explained Mehreen Rizvi-Khursheed, Head of Bonhams Modern and Contemporary South Asian and Middle Eastern Art Department.

Among the most notable Iranian works on offer was a rare untitled piece by pioneer artist Sohrab Sepehri from his ‘Tree’ series. True to form, the artist did not include the tree in its entirerity, only features of it – the trunks, branches and abstracted leaves, leaving huge swathes of blank spaces to suggest that his subject exists within unlimited space beyond the boundaries of the composition.

Artists from the United Arab Emirates (UAE) were also the subject of fierce discussion. Girling said, “From our experiences in emerging art markets such as Hong Kong and South Africa, we have noticed a growing trend for first time collectors to purchase contemporary art from their own indigenous regions.

“With the blossoming development of art appreciation in the UAE, it was only natural that we played a part in showcasing works from Emirati artists in our second Middle East auction.”

One oil on canvas piece entitled ‘The Palm Mother’ (estimated at $100,000-150,000), caused a particular buzz of excitement, with crowds swarming round to see the work of the renowned and respected Emirati artist, Abdul Kadir Al Rais.

The piece shows the trunk of a palm tree painted in burnt orange tones; an inspiration from the colours of Al Rais’ homeland. Al Rais painted the palm tree to represent the centre of the universe and the origin of inspiration.

The auction also included works from The Flying House collective, a non-profit organisation formed in 2007, aimed at promoting contemporary Emirati artists. Flying House artists featured in the auction included Hassan Sharif, Mohammed Kazem and Mohammed Ahmed Ibrahim.

The two works offered by Hassan Sharif, ‘Two Squares’ and ‘The Flying House’, present markedly different styles and concepts. The paintings are symbolically charged with tradition and epitomise a natural harmony with the landscape. Mohammed Kazem’s ‘Scratches on Acrylic’ indicate his autobiographical approach to conceptual art projects.

“We are clearly committed to increasing both regional and international awareness of local artists in the modern and contemporary art genre,” said Rizvi-Kursheed.

The sale also included ink and charcoal drawings, photographs, collages and art installations, demonstrating the variety and richness of modern and contemporary art in the UAE, Iran, India and Pakistan.

However, the global financial crisis has forced local connoisseurs to tighten their belts, as disposable incomes continue to shrink and bonuses of high-earning executives are in danger of being slashed. The auction made a disappointing $2.8 million in total – less than a quarter of its presale estimate of $12 million, and only half of the works were sold.

British-Indian artist Anish Kapoor’s celebrated piece, entitled ‘Mountain’, a sculpture constructed from 120 water-jet cut 2 cm thick aluminium layers and estimated at $2.6 million, was withdrawn along with three other pieces.

Sohrab Sepehri’s untitled oil painting, which had one of the highest estimates of $400,000, was left unsold.

Girling said, “The froth’s gone. At the beginning of the year, works were selling for six or seven times the estimate. Now it’s not quite the same.”

The auction house’s inaugural and smaller sale of contemporary art in Dubai earlier in March fetched $13 million. Just a few months on in October, Christie’s two-day sale of art and jewellery in the emirate fetched $16.9 million, against a presale estimate of $32 million. However, 70 per cent of the works were sold, which indicated that people still desired art, but were not prepared to pay high prices for it.

Prominent Iranian artist Charles Hossein Zenderoudi raked in the most amount of money, taking $276,000, inclusive of buyer’s premium, for one of his pieces. Another painting by the artist went for $264,000.

However, auction houses are undeterred by the market slowdown and continue to be optimistic about the Middle Eastern market. Bonhams said it planned to take its Dubai sales to three from two next year. Perhaps Bonhams truly believes that pain is good for art…