Most expensive art fair ever held heading to Dubai.

Abu Dhabi is to hold the most expensive art fair ever held. Approximately £200m worth of artwork will be exhibited this coming November (2007) at the plush Emirates Palace.

Held under the patronage of Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the fair, Art Paris-Abu Dhabi, is set to become one of the world’s greatest art events where paintings will be sold for as little as £1000 and as high as £2 million.

The fair is to be held at the impressive Emirates Palace hotel from November 26 to the 29th.

Mohammad Khalaf Al Mazrouei, director general of the Abu Dhabi Authority for Culture and Heritage said on Sunday at a press conference announcing the event: “The Emirate of Abu Dhabi has an explicit strategy to mark the capital of the nation as a regional and international art and culture center, while preserving its heritage and traditions.

It is evident, therefore, that the world’s capital of art and culture, Paris, has the priority in our cultural relations.

“Organizing Art Paris-Abu Dhabi Exhibition next November with participations of 43 European and international art galleries which exhibit more than 3000 works of 700 artists from all over the globe, is part of our plan to achieve our goals,” he said.

He added that the exhibition, which will showcase masterpieces worth more than 400 million dollars, “will provide opportunities for artists to network with international experts in the field of art and benefit from various workshops and lectures which will be offered on the sidelines.”

Highlights of the fair to be held from November 26 to the 29th is infamous Andy Warhol stylized portrait of celebrity icon Marilyn Monroe which is expected to sell for four million dollars as well some of Picasso’s greatest paintings.

ArtParis-AbuDhabi is also expected to attract a wide spectrum of local and foreign buyers who are either major collectors or simply enjoy art.