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 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 Date | Title | Price | Record Increase | Venue | City |
|---|---|---|---|---|---|
| 2024-04-23 | The World of Petrol | $564,300 | 296 % | Sotheby's | London |
| 2023-04-27 | The Sahara | $142,600 | 4 % | Sotheby's, Online | - |
| 2015-03-18 | Jeddah (al Shatek El Hadi) (the Calm Shore) | $137,000 | 119 % | Christie's | Dubai |
| 2008-10-30 | H. T. M. (Human Time and Machine) | $62,500 | 69 % | Christie's | Dubai |
| 2007-10-31 | Labyrinths of the Millenium | $37,000 | - | Christie's | Dubai |