Art Dubai, Christie's and UAE-Based Gallerists Provide Insight on Clever Art Collecting for Capital Club Members.Some of the Middle East's most prominent art-related figures collaborated this week to offer advice on how both private collectors and institutions can build their art collections in the region's burgeoning cultural landscape. During an exclusive 'Clever Collecting' business forum hosted by The Capital Club, the flagship club of Signature Clubs International located within the Dubai International Financial Centre The Dubai International Financial Centre (DIFC) is a near-shore financial hub for the MENA containing a capital market designated as a financial free zone in Dubai. It is established to create an environment for growth, progress and economic development in the UAE and the wider (DIFC DIFC Dubai International Financial Centre ), arts decision-makers including John Martin, co-founder and fair director of Art Dubai; Omar Ghobash, co-founder of The Third Line gallery; Michael Jeha, managing director of Christie's Middle East; and Mishal Kanoo, deputy chairman of the Kanoo Group, provided their perspectives on how to assess and invest in contemporary art. "Given the proliferation proliferation /pro·lif·er·a·tion/ (pro-lif?er-a´shun) the reproduction or multiplication of similar forms, especially of cells.prolif´erativeprolif´erous pro·lif·er·a·tion n. of opportunities to buy Middle Eastern art at present, a number of our members have been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. expert and unbiased insight into how to build their collections either as individuals or for corporate investment," explained Andrew Christon, General Manager of the Capital Club. "Art fairs, auction houses and galleries are all contributing significantly to the growth of the region's arts community and during the 'Clever Collecting' forum, the Capital Club welcomed a lively debate on the intersection between the Middle East's commercial development and the patronage Patronage See also Philanthropy. Alidoro fairy godfather to Italian Cinderella. [Ital. Opera: Rossini, Cinderella, Westerman, 120–121] Alphonso, Don supports Bias in return for political favors. [Fr. Lit. of its artists and sellers." During the discussion, which was sponsored by DIFC, Art Dubai's John Martin revealed that the region's premier contemporary art fair is set to attract more than 15,000 regional and international visitors from 19-22 March. Michael Jeha from Christie's urged attendees to seek as many sources of art information as possible prior to buying, from specialists to gallerists, and all of the participating panellists agreed on the need to purchase art about which the potential collector is passionate. A further element of the panel discussion was the current valuation for contemporary Arab and Iranian art The Iranian Cultural Continent - consisting of the modern nations Iran, Afghanistan, Tajikistan, Azerbaijan, Uzbekistan, and surrounding regions - is home to one of the richest art heritages in world history and encompasses many disciplines including architecture, painting, weaving, , which is seen as somewhat undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. compared with Chinese and Indian pieces. Abraaj Capital Abraaj Capital is the leading investment firm specializing in the Middle East, North Africa, and South Asia, which is commonly referred to as the (MENASA) region. The firm's primary strengths include private equity buyouts, strategic minority block positions in public , a shareholder in Signature Clubs International, is also the principal sponsor of Art Dubai 2008. The Capital Club, launched late 2006, is opening this quarter in the DIFC's Gate Village. Photo caption: From left to right, Omar Ghobash, cofounder co·found tr.v. co·found·ed, co·found·ing, co·founds To establish or found in concert with another or others. co·found of Third Line Gallery; Asmaa Al-Shabibi, Managing Director, Art Dubai; John Martin, co-founder and Fair Director, Art Dubai; Michael Jeha, MD of Christie's Middle East; and Mishal Kanoo, Deputy Chairman, Kanoo Group. About the Capital Club Located at the heart of Dubai International Financial Centre, occupying a prestigious site on the top four floors of Building 3 of Gate Village, the Capital Club is Dubai's premier private business Club. The Capital Club is exclusively designed to meet the demands of those from the top echelons of business, finance and government. The Club provides the highest level of comfort and cuisine, an exceptional event programme which fosters the exchange of ideas, global business and social interaction, camaraderie ca·ma·ra·der·ie n. Goodwill and lighthearted rapport between or among friends; comradeship. [French, from camarade, comrade, from Old French, roommate; see comrade. and unmatched personal service. Membership is by invitation, and reflects the international and cultural diversity of the region. Select corporations and individuals are introduced to the Club through personal introduction and referral to the Board of Governors. www.capitalclubdubai.com [c] 2008 Al Bawaba (www.albawaba.com) |
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