Buying Activity at Abu Dhabi Art Signals a Market Comeback for the UAE Despite a Looming Global Recession

Abu Dhabi Art Fair’s 14th edition was held in Manarat Al Saadiyat from November 16 to 20, 2022. This Artnet Magazine article focuses mainly on the financial side of the event, the enhanced sales following the Covid-19 interruption. In recent years, Abu Dhabi has become a center for artistic activities by attracting top museums, like the Louvre, the Guggenheim, and establishing the Zayed National Museum. The current atmosphere inspires locals to invest in art. The article asserts that local collectors are slow buyers untouched by hype and trends. Dastan’s Basement participated with a Farah Ossouli painting not put on sale. The painting reworks a scene from Eugène Delacroix’s famous depiction of the French Revolution and appropriately reflects the political situation in Iran. Artnet quotes Dastan's Basement director, Hormoz Hematian, “art is a reflection of society on a deeper level.” The article also goes on to mention "Farideh Lashai: Afloat Over Undulations,” showcasing works from the latter part of the late Iranian artist’s life by Lashai foundation. Click here to read it in full.
November 21, 2022
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