In recent years, l’Arabia Saudita has experienced a significant transformation in the art market, emerging as a prominent cultural hub in the Middle East.
This evolution has been driven by ambitious government initiatives, substantial investments, and the passion of visionary collectors like Basma Al Sulaiman.
Basma Al Sulaiman: A Visionary of Saudi Collecting
Basma Al Sulaiman is a prominent figure in the Saudi art world. Born and raised in Jeddah, she began her journey in collecting in the ’90s, acquiring works by international artists such as David Hockney and Frank Stella.
Subsequently, he turned his attention to contemporary Chinese art, adding works by Yue Minjun and Zhang Xiaogang to his collection. However, his most significant contribution was in promoting Saudi art, supporting local artists and creating platforms for their exposure.
In 2011, Basma launched BASMOCA (Basma Al Sulaiman Museum of Contemporary Art), a virtual museum that houses her private collection, making it accessible to a global audience.
This pioneering initiative has allowed users to explore artworks in an interactive digital environment, anticipating current trends in online artistic enjoyment.
The Role of the Government and Cultural Initiatives
The Saudi government, as part of the Vision 2030 program, has invested massively in the cultural sector to diversify the economy and promote the national heritage.
Projects like the Biennale di Arte Islamica in Jeddah, inaugurated in January 2025, highlight the kingdom’s commitment to celebrating and preserving its cultural heritage.
Furthermore, the opening of a new Sotheby’s location in Riyadh in February 2025 underscores the growing importance of Saudi Arabia in the global art market.
Edward Gibbs, Presidente di Sotheby’s per il Medio Oriente e l’India, observed a significant increase in Saudi buyers between 2019 and 2023, indicating a growing local interest in art and collecting.
Growth of Saudi Buyers and Sellers
In recent years, the art market in Saudi Arabia has experienced significant growth, highlighted by data and initiatives that emphasize the cultural expansion of the Kingdom.
Between 2019 and 2023, Sotheby’s observed a 74% increase in the number of Saudi buyers and a 125% increase in bidders from the Kingdom. These figures reflect a growing interest in art and collecting within the country.
Young Demographics and Interest in Luxury
About 50% of the Saudi bidders are under 40 years old, indicating a young and dynamic population involved in the art market. Currently, most transactions concern the luxury sector, with watches and jewelry as the main categories both in terms of spending and the number of bidders.
Cultural Initiatives and International Auctions
On February 8, 2025, Sotheby’s will hold its first auction in Saudi Arabia, in the historic city of Diriyah. The event, titled “Origins”, will include works by international and Saudi artists, as well as luxury goods such as jewelry, watches, and cars.
These developments highlight the expansion of the art market in Saudi Arabia, supported by a young population, ambitious cultural initiatives, and a growing participation in global artistic dynamics.
Emerging Trends and Future Developments of Art in Saudi Arabia
Saudi Arabia is experiencing a flourishing of cultural and artistic events. In addition to biennials and art fairs, educational programs and artist residencies are being developed, aimed at cultivating local talents and promoting international cultural exchanges. The growing presence of international galleries and auction houses in the kingdom reflects an expanding internal demand and greater integration into the global art market.
Collectors like Basma Al Sulaiman are playing a crucial role in this ecosystem, not only acquiring works but also supporting emerging artists and promoting Saudi culture internationally.
His statement, “We are not just consumers,” emphasizes the intent to actively contribute to cultural production and to establish Saudi Arabia as a center of creativity and artistic innovation.
Saudi Arabia: an expanding art market
The Saudi art market is in a phase of rapid evolution, characterized by strategic investments, ambitious cultural initiatives, and a growing participation both locally and internationally.
With the support of influential figures like Basma Al Sulaiman and the government’s commitment to promoting culture and the arts, Saudi Arabia is destined to establish itself as a key player in the global art scene.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
