• Meagan Kelly Horsman is managing director of Christie's Middle East, handling rare and extravagant artworks in its gallery in Dubai's DIFC. All photos: Leslie Pableo / The National
    Meagan Kelly Horsman is managing director of Christie's Middle East, handling rare and extravagant artworks in its gallery in Dubai's DIFC. All photos: Leslie Pableo / The National
  • The 38 year old from Britain has sent everything from modern Middle Eastern paintings to ancient pashmina carpets under the hammer
    The 38 year old from Britain has sent everything from modern Middle Eastern paintings to ancient pashmina carpets under the hammer
  • Ms Horsman has always been interested in art and took her first job in London at Bonhams as an auction office administrator after an art history degree at the University of Glasgow
    Ms Horsman has always been interested in art and took her first job in London at Bonhams as an auction office administrator after an art history degree at the University of Glasgow
  • Now, Ms Horsman specialises in modern and contemporary art from the Arab world, North Africa and Iran
    Now, Ms Horsman specialises in modern and contemporary art from the Arab world, North Africa and Iran
  • She visits auctions around the world and bids on behalf of Christie's clients, which she says is fast-paced and exhilarating
    She visits auctions around the world and bids on behalf of Christie's clients, which she says is fast-paced and exhilarating
  • Ms Horsman says one of the most exciting aspects of her role is stumbling across a Damien Hirst or a Pablo Picasso in the UAE
    Ms Horsman says one of the most exciting aspects of her role is stumbling across a Damien Hirst or a Pablo Picasso in the UAE
  • Andy Warhol's 1964 portrait of Marilyn Monroe was sold at auction in New York for $195 million in May 2022, and Ms Horsman said being part of something so monumental was amazing
    Andy Warhol's 1964 portrait of Marilyn Monroe was sold at auction in New York for $195 million in May 2022, and Ms Horsman said being part of something so monumental was amazing
  • Ms Horsman's favourite peices include monumental works by Anish Kapoor and Damien Hirst, vibrant neons by Tracy Emin and Mona Hatoum, and Arab modernist masterpieces by Jewad Selim and Shakir Hassan Al Said
    Ms Horsman's favourite peices include monumental works by Anish Kapoor and Damien Hirst, vibrant neons by Tracy Emin and Mona Hatoum, and Arab modernist masterpieces by Jewad Selim and Shakir Hassan Al Said
  • The managing director also enjoys visiting private collectors and friends' homes, where in 14 years of working in the UAE, she has helped them find unique pieces
    The managing director also enjoys visiting private collectors and friends' homes, where in 14 years of working in the UAE, she has helped them find unique pieces
  • One of the misconceptions of auctioneering, Ms Horsman says, is people assuming it's all bashing a hammer and shouting 'sold'
    One of the misconceptions of auctioneering, Ms Horsman says, is people assuming it's all bashing a hammer and shouting 'sold'
  • Ms Horsman says it's not unusual for her to be up at 3am bidding on a rare piece of modern art, since her clients are from all over the world
    Ms Horsman says it's not unusual for her to be up at 3am bidding on a rare piece of modern art, since her clients are from all over the world

Working Wonders: Going, going, gone! Christie’s MD on digging Picassos out of the desert


  • English
  • Arabic

Our Working Wonders of the UAE series takes you to some of the country's most recognisable destinations to uncover the daily duties of the talented employees working there

From Pablo Picasso to Tracey Emin, Meagan Kelly Horsman spends her days dealing with some of the world’s most lucrative art.

The 38 year old from Britain is managing director of Christie's Middle East and has sent everything from modern Middle Eastern paintings to ancient pashmina carpets under the hammer, accumulating millions in sales.

Here, she invites The National for a tour of Christie’s DIFC gallery and talks us through her days at the world’s leading auction house.

How did you come to work at Christie’s?

I’d always been interested in art and after an art history degree at the University of Glasgow, I took my first job in London at Bonhams as an auction office administrator.

It was my job to sit next to the auctioneer and keep on top of all the bids firing in, so I was really thrown in at the deep end.

Ms Horsman loves the job. Leslie Pableo / The National
Ms Horsman loves the job. Leslie Pableo / The National

In 2010 I moved to the Bonhams office in Dubai and I was captivated by Middle Eastern art. Eventually Bonhams closed and I spent some time working at the XVA Galley and Meem Gallery before joining Christie’s in May 2022.

What does your job involve?

People tend to assume it’s all just bashing a hammer and shouting “sold” but there’s a lot more to auctioneering than that.

I specialise in modern and contemporary art from the Arab world, North Africa and Iran, so I spend a lot of my time immersed in curation or collection management.

There are some huge private collections in the region and it’s always very exciting to see something special come together.

I also visit auctions around the world and bid on behalf of our clients, which is very fast-paced and exhilarating. You’re dealing with large amounts of money that belong to someone else, so the pressure is on.

All the auctions in the UAE are online but our clients are from all over the world so my working hours can be quite erratic. It’s not unusual for me to be up at 3am bidding on a rare piece of modern art.

What are some of the most exciting aspects?

Often I’ll arrive at a private home to view one piece of art and something else will blow me away entirely.

There are some works by incredible artists tucked away around the UAE and stumbling across a Damien Hirst or a Pablo Picasso is a huge thrill.

There’s also a lot of big sales to get excited about and sometimes the selling price just blows you away.

Many of the pieces Ms Horsman finds can sell at auction for millions of dollars. Leslie Pableo / The National
Many of the pieces Ms Horsman finds can sell at auction for millions of dollars. Leslie Pableo / The National

Christie's New York sold Andy Warhol's 1964 portrait of Marilyn Monroe in May 2022 for $195 million (Dh716 million), becoming the most expensive piece of American art ever sold, which was incredible.

Although I didn’t work on the sale personally, to be part of something so monumental was amazing.

In September 2022, we also exhibited a pashmina carpet in Dubai before it was sold in London for £5,442,000 ($6,913,500, Dh25.3 million) against a presale estimate of £2.5 million to £3.5 million.

What famous artworks have you come across in the region?

Over the years in the UAE and the region at large I have come across some amazing objects and artworks from vast archives of undiscovered early photography to huge collections of exceptional pearls and ultra-contemporary art.

My favourites include monumental works by Anish Kapoor and Damien Hirst, vibrant neons by Tracey Emin and Mona Hatoum and Arab modernist masterpieces by Jewad Selim and Shakir Hassan Al Said, unseen for decades.

I have also seen a number of legendary Picassos in the region over the years, with some exquisite examples, which would be valued in the millions of dollars.

Jewad Selim's work, The Watermelon Seller, sold at Christie's London for £668,750. Wikimedia Commons
Jewad Selim's work, The Watermelon Seller, sold at Christie's London for £668,750. Wikimedia Commons

Works by Pablo Picasso can sell for over Dh367 million and Christie's New York holds the world record for the sale of the Les femmes d'Algier (Version 'O') for $179 million in 2015.

We also discovered some of Jewad Selim's work, The Watermelon Seller, which sold at Christie's London for £668,750.

His work is hard to find – I have seen only three to four examples of his work in private hands over the past few years, as he died so young at age 40.

The exciting aspect of finding one of his works is more the rarity of the object than its monetary value, as you know many collectors will be excited to get their hands on it.

Works by Damien Hirst and Anish Kapoor regularly sell in the millions of dollars globally, and the works I have seen here were no different. They were interesting to me, in particular due to the locations I found them in – from a private desert retreat to a spectacular majlis.

What are the most rewarding parts of your job?

I am lucky enough to be able to say I have been involved in some very successful sales in the course of my career, at auctions as well as galleries.

Rather than monetarily, I think some of my favourite sales are more about placement – as I can go and visit the artworks in a museum, where they hang proudly for thousands of people to see every year.

I also love to visit private collectors and friends’ homes, where over the past 14 years of working in the UAE, I have helped them find some really unique works or helped them with special commissions.

One of my favourite sales this year at Christie’s has to be our London auctions of Marhala (The Dalloul Collection) and Modern and Contemporary Middle Eastern Art, which were held on November 9, and totalled over £5 million with a fantastic sell-through rate.

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
Afghanistan fixtures
  • v Australia, today
  • v Sri Lanka, Tuesday
  • v New Zealand, Saturday,
  • v South Africa, June 15
  • v England, June 18
  • v India, June 22
  • v Bangladesh, June 24
  • v Pakistan, June 29
  • v West Indies, July 4
RIVER%20SPIRIT
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ELeila%20Aboulela%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Saqi%20Books%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20320%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
A cheaper choice

Vanuatu: $130,000

Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.

Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.

Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.

Benefits:  No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

CREW
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERajesh%20A%20Krishnan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ETabu%2C%20Kareena%20Kapoor%20Khan%2C%20Kriti%20Sanon%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Updated: December 21, 2023, 3:00 AM