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The Iran War Is Already Tanking Luxury Sales in the Gulf—Could Art Be Next?
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The Iran War Is Already Tanking Luxury Sales in the Gulf—Could Art Be Next?
By the end of last year, 2026 seemed poised to be the year of the Gulf for the art market. In December 2025, Sotheby’s held the first edition of Abu Dhabi Collectors’ Week, netting $133 million in the process. This past February, Art Basel held the inaugural edition of Art Basel Qatar. And, in November, Frieze is set to host the first edition of its newly rebranded fair Frieze Abu Dhabi. But then, after weeks of saber rattling, the US and Isr…
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