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Rare Artworks by Picasso and UAE Royal Family Member to be Auctioned together for the First Time

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#art #fineart #abstractart #museums
Published
03/11/2023 by

The Rare Antiquities is revolutionising the way museums and galleries are presented in the web 3.0 space through their unique technology. By making high-value art available to everyone, regardless of the budget. It is the first platform to fractionalise a Banksy and distribute the fractionalised pieces as individual NFTs, customisable in size. They have live fractionalised auctions scheduled throughout 2023 for art and antiquities valued at over $1Bn. 

To start off the year The Rare Antiquities will host one of their first auctions on the 12th of February 2023. The Red carpet event will take place in Sama L Ain Gallery in Dubai where three Picassos and one painting created by one of the members of the Ras Al Khaimah Royal Family will be auctioned for shared ownership. The main aim of the event is to allow the appreciation of art to rise through shared ownership by giving more people the opportunity to own a piece of it.

The painting that will be featured in the auction was created by Artist Noora Alredhwan, the Mother of Sheikh Humaid Bin Khalid Al Qasimi. It is dedicated to the 50 year anniversary of the UAE. During EXPO 2020 Dubai it was displayed in the UAE Pavilion for six months. Now, for the first time, it will be accessible for the public.

One of the paintings on auction features a lithography that Pablo Picasso created a few years after the end of the second world war, in 1949. Picasso was particularly passionate about this technique, where stone or metal are treated in a way so that it can be painted or printed on. Another one of the Picasso paintings was created in 1945, using the gouache technique with opaque watercolor, ink and wash on paper. One of Picasso's later works, "Like an animal", which was created in 1957 will also be part of the auction.

Ryan Howells, Founder of The Rare Antiquities, commented on the project and explains the motivation behind it: "The fractionalisaton of art represents a new paradigm fostering a new approach to the appreciation of art. Through this event we hope to bring together like minded people where they can enjoy what each art piece has to offer."

One of the hosts of this special event is Sheikh Humaid Bin Khalid Al Qasimi. This auction is not just about the art, it's about bringing to market a new way of sharing ownership of artwork that at any other time would be inaccessible to the majority of people.

"For us, art is an important channel to connect with society. It is about accessibility: One aspect of this initiative is that sharing our own artwork with the people brings us closer to the public. Another aspect is that technology enables shared ownership, which allows for more people to access this art," said Sheikh Humaid Bin Khalid Al Qasimi.

Mohamed Al Banna, initiator and mentor of the the initiative said: "The collaboration with The Rare Antiquities follows our mission of building bridges: On the one hand we're building a bridge between Royal families and the people through art, and on the other hand we create access to highly curated art, like the Picasso works, for a larger audience and not just a few privileged people."

The Rare Antiquities brings museums and galleries to the Metaverse with Rare City which also hosts districts for education, charity, crowdfunding and more. AURA Skypool Lounge, the world's highest 360 degree infinity pool, will now be made available to everyone through a digital space created in the Metaverse.

The move into the Metaverse for the destination is being curated by Rare City which is a part of The Rare Antiquities that leverages blockchain technology for the Rare City Metaverse. This is the first of many venues 'The Rare City' plans to bring into the Metaverse, allowing people to relive a memory, experience or a unique adventure from anywhere. 

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