Dubai's art market has been built around Art Dubai, held each spring since 2007, the Alserkal Avenue gallery district and a collector base that spans Gulf nationals, South Asian and European residents. Christie's and Sotheby's hold sales and exhibitions in Dubai, and the city has become the regional entry point for international galleries.
The independent advisory market is younger than in London or New York. Most Dubai collectors at the UHNW level work with international advisers who travel to the region and with a small number of locally based specialists focused on Middle Eastern and contemporary art. The advisers listed here serve Gulf clients on that basis.
Practical considerations include the Dubai freeport for storage and VAT deferral, the UAE's 5 percent VAT on art sales, and the logistics of moving works between Dubai, Europe and the United States.
What to Look For in a Dubai Art Advisory Professional
- Experience with Gulf collectors and familiarity with Middle Eastern modern and contemporary art
- Independence from galleries and auction houses
- Freeport and cross-border logistics experience
- A disclosed fee structure