Dubai - Christie's International, the world's biggest auction house, is in Dubai "for the long term" and is betting the emirate will develop into a $250 million (R1.8 billion) market faster than the 20 years it took Hong Kong, according to Jussi Pylkkanen, president of Christie's Europe. "Commerce and culture go hand in hand," Pylkkanen said on Thursday, before the first of two auctions Christie's expected might fetch as much as $20.8 million. "If the growth of Dubai as a commercial centre continues, there's no question that it could emerge as a force in the international art market much more quickly than Hong Kong did." Christie's has opened offices in emerging markets, such as Dubai, Mumbai and Shanghai, to expose local artists to an international audience and bring new buyers into the global market.
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