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Record Sale for Aref El-Rayess Posts 275% Rise

3 min read  ·  24 Apr 2024

Aref El-Rayess, The World of Petrol (1973) sold for $564,300, more than seven times the low estimate at Sotheby's in London on April 23. The oil on canvas work has been traded twice in the past.

The sale beat the artist’s previous auction record by $421,700, a 275% rise.

The Sahara. Image courtesy of Sotheby's, Online

The Sahara. Image courtesy of Sotheby's, Online

The previous record was set by The Sahara (1981), which sold for $142,600 at Sotheby's, Online on April 27, 2023. The work had been traded 3 times in the past.

Sale DateTitlePriceRecord IncreaseVenueCity
2024-04-23The World of Petrol$564,300296 %Sotheby'sLondon
2023-04-27The Sahara$142,6004 %Sotheby's, Online-
2015-03-18Jeddah (al Shatek El Hadi) (the Calm Shore)$137,000119 %Christie'sDubai
2008-10-30H. T. M. (Human Time and Machine)$62,50069 %Christie'sDubai
2007-10-31Labyrinths of the Millenium$37,000-Christie'sDubai