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(NewsNation) — Famed auction house Sotheby’s — which just opened Sotheby’s Breuer in Manhattan — is establishing a permanent home in Riyadh and will hold its first auction in its new home in February 2026.
According to a Sotheby’s press release, “The very first Sotheby’s auction house in Saudi Arabia is being established in the capital city of Riyadh, in recognition of the Kingdom’s important cultural status. The new auction house has also announced its inaugural auction, to be held in February in the historic city of Diriyah. This unprecedented event will represent the first global commercial auction ever in the history of the Kingdom.
The inaugural auction comes after Sotheby’s officially obtained a license to establish an office in the Kingdom of Saudi Arabia at the end of last year. The office will be located in Al Faisaliah Tower, the first skyscraper in the Kingdom and one of the most prominent landmarks in Riyadh.
Christie’s is also expected to open in the country next year, with that branch expected to focus on modern and contemporary Middle Eastern art, jewelry, watches, and luxury goods.
An art house source tells me, “Saudi is set to open up to 30 major museums in the coming years — they will be a major player.”
While the Saudis were suspected to behind the $246 million Klimt sold at Sotheby’s last month, it was later reported to be bought by Abu Dhabi for the opening of that country’s Guggenheim Museum next month.
Saudi Arabia has struggled to clean up its reputation after the 2018 killing of journalist Jamal Khashoggi — leaning on Hollywood, business conventions and music stars to help alleviate the stain on their reputation.
And it has cost them.
Saudi Arabia looks to Hollywood, music stars
Just a year after Khashoggi’s killing, Mariah Carey accepted $2 million to perform in Jeddah as part of the inaugural Saudi International Golf Tournament being held at the Royal Greens Golf & Country Club in King Abdullah Economic City.
That same year, “Aquaman” star Jason Momoa, who has reportedly struck up a friendship with the powerful Saudi royal Mohammed bin Salman, joined the Joy Forum 2019 and has made several all-expense-paid trips over the years ever since.
After Carey and Momoa, and the press outrage that followed, there were a few years where no one went to the Middle East kingdom.
But in 2023 — five years after Khashoggi’s murder — the drought ended.
The same year, Manahel al-Otaibi, a women’s rights activist, was subject to “forcible disappearance” where she was tortured, and a 27-year-old Saudi man was sentenced to 500 lashes and five years’ imprisonment for homosexuality in Jeddah.
Saudi royals promote their entertainment industry
The Saudi royals held the Red Sea Festival to promote their entertainment industry.
No matter to Hollywood stars looking for cash because that was the year Will Smith was paid $1 million to attend the Festival, according to Variety.
Johnny Depp, still reeling from his divorce and proceedings with Amber Heard — and who had yet to score another Hollywood contract — also scored a similar amount to hang out at the Festival … as did Halle Berry, also not reeling in the movie big bucks, who was also on the $1 million Saudi list.
However, the “big get” for the Red Sea Festival was Gwyneth Paltrow, who, despite her stance on feminism and women’s rights, attended the event and was, according to her biographer, Amy Odell, paid even more … a whopping $1.6 million.
A year later, in 2024, Celine Dion warbled in the country for a rumored seven-figure amount, despite it also being the year that Saudi Arabia had its highest number of state executions — setting modern-era records — many for nonviolent drug offenses. Homosexuality at the time was still punishable by prison, flogging and/or death.
Celebrities paid millions
Meanwhile, this year, The country paid Post Malone, Benson Boone and DJ Calvin Harris millions to headline this weekend’s SoundStorm Music Festival in Riyadh and dropped millions more to have 50 international comedians, including Louis CK, Aziz Ansari, Hannibal Buress, Dave Chappelle, Kevin Hart, Jessica Kirson and Pete Davidson, perform at the Riyadh Comedy Festival earlier this Fall.
Meanwhile, human rights warrior Angelina Jolie — along with Dakota Johnson, Jessica Alba, Ana de Armas, Nina Dobrev, Kirsten Dunst, Adrien Brody, Sean Baker, Queen Latifah, Michael Caine, Sigourney Weaver, Juliette Binoche — were all set to turn up at the Red Sea Film Festival this week.
Ka-ching!