Christie's looks for realistic returns

[Photo/Agencies]

In Tuesday's auction of 113 artworks, the highest estimated price has been set at $180,000－far lower than the $400,000 price tag on paintings sold in March this year.

Around 150 watches go up for auction on Wednesday, with estimated prices reaching $250,000.

Among them are two Patek Philippe 18K white-gold automatic wristwatches with the Iraqi coat of arms and the name "Saddam". Executed Iraqi president Saddam Hussein ordered the watches in 1974 and 1980 as gifts.

Their prices are estimated at $10,000 and $18,000 each.

London-based Christie's, which celebrates its 250th anniversary on Dec 5, says its sales at Dubai auctions have exceeded $300 million since it opened a branch in the emirate 10 years ago.