Saudi Art Set to Surge
Filed under: Art
The timing couldn't be better for Saudi artists. Just as the art market is recovering in the wake of a severe slump – the worst in almost 20 years – the world is starting to take notice of work that has long been limited only to a local market. Following an exhibition by a group of artists in London in October 2008 and another at last year's Venice Biennale, momentum is building. Shows are planned for Istanbul and Berlin. Auction prices are shooting higher. Excitement is abundant.And the government is behind it.
King Abdullah's strategy for rebranding Saudi Arabia includes promoting the country's artists, even though there aren't many art galleries inside its borders. The combination of hype and low prices could translate to an amazing opportunity for art collectors. Get in now while the buzz is beginning, and you might be able to ride a sharp increase.
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