Ali Al Bayaty, chief executive of Estuary Auctions, has over the past eight years built up a rare and refined business in the heart of Abu Dhabi, inspired by his lifelong love of beautiful things and the expectation that a growing culture and arts scene in the country will spur demand for the items he helps collectors to buy and sell. The company’s next auction will be held on December 7 at its purpose-built premises in Addax Tower, City of Lights on Reem Island, when Mr Al Bayaty will put 126 lots up for sale including antique silver and antique European furniture, Russian and Islamic art, oriental rugs and modern glassware.
What motivated you to start an auction house eight years ago for art, antiques, furniture and other collectibles?
As I was growing up, my father, who appreciated the subject of history and the world of art and antiques, became an avid collector, investing heavily. My mother is an experienced fashion designer and tailor, that established a fashion house in the early ‘80s. I was nurtured in an environment that had and still holds a passion for the arts and antiques and works of extravagance and beauty. As a child, I would visit garage sales, flea markets, museums, galleries, and auction houses trying to hunt for bargains of beauty, value and unique characteristics, with my parents.
Why in Abu Dhabi?
Abu Dhabi is in my opinion the best place to work and reside. I have an attachment to it since I was born, raised and spent most of my life here. I want to create an environment for people interested in culture and art to be exposed to and interact with each other in a comfortable and beautiful setting.
How easy was it to convince investors to back your venture?
It was relatively easy since the investors themselves are knowledgeable and hold a strong interest in fine arts and antiques that made it straightforward and comfortable for them to invest since they see a great deal of potential in this field, together with trusting my judgment, management and vision.
What has demand been like?
Demand has been very good considering we have only held 10 auctions to date. What is important is that we see new faces at every auction, so that is very promising. Also we have introduced online bidding on our website together with live streaming and that makes it easier for buyers living abroad or locally by using this facility at their own comfort. Our clients are international, but most of them reside in the UAE.
What do your clients typically look to sell and buy?
Everything that they find interesting and pleasing to their personal taste. We offer unique items of beauty for sale at auction from jewellery, rugs and carpets, paintings, bronze, silver, porcelain, glass and furniture.
How important will the opening of the Louvre Abu Dhabi be to increasing interest in collectibles?
Museums, galleries, flea markets, bazaars are all very important for any country. It encourages learning, tourism, economic growth, prestige and establishes an international name and existence on the world map, bringing positive publicity for any state. Naturally helping all sectors of the economy grow. For example, tourism in the UK and the overall economy there depend on higher learning, tradition, culture and the museums – everything connects to it. Visitors that visit these museums will appreciate and understand the history and evolution of humanity throughout time and will seek to own similar pieces for their private collections.
What has been the most interesting aspects of running an auction house? What have you learnt?
Foremost: patience. But we learn something new every day in the antique and art world. Discovering and researching potential consignments for sale, interacting with both buyers and sellers of very high profiles and abundant knowledge. There is nothing static, it is exposure to new beautiful pieces on a daily basis. Without the boredom of routine.
What are the challenges?
I have to stress that antiques and art should move freely between countries without any barriers to entry and should not be exposed to tariffs since they are considered as a national treasure to any country they enter and settle in. Customs authorities should avoid taxing these pieces since they are assets in order for them to appreciate in value and encourage collectors to export them to the UAE.
What next for the business?
We hope to build relations with international museums, galleries and collectors to auction pieces through our house. We also plan to hold specialised lectures with experts from various institutions to inform interested people of works, arts and antiques. We will also be offering help and guidance to interior designers and help in decorating clients’ residential and commercial premises if need be.
malrawi@thenational.ae
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