The Dubai artist who has sold works for millions and rejects 99% of potential buyers.

The Dubai artist who has sold works for millions and rejects 99% of potential buyers.
The Dubai artist who has sold works for millions and rejects 99% of potential buyers.
  • Dubai-based British artist Sacha Jafri operates from a spacious workspace, featuring multiple galleries and a conference room.
  • In 2021, a charity auction sold his painting "Journey of Humanity" for $62 million.
  • Over two years, Jafri produced approximately 12 paintings, and there are currently around 150 individuals on his waiting list for potential buyers.
Sacha Jafri may have cracked the unpredictable art market

Contemporary artist Sacha Jafri prides himself on his unique way of working.

His Dubai studio encompasses three gallery spaces, a digital space, an office, and a boardroom, with a dedicated room for nonfungible tokens, or NFTs.

His retrospective collection, along with one-off pieces and commissions, occupies the space and comprises approximately 40 paintings.

While most artists rely heavily on galleries, Jafri has found success by developing his own relationships with clients and building a global collector base. He also has a London gallery space for European and U.S. buyers.

Jafri, a British artist, has been working for nearly 30 years and is known for his magical realist art. He creates work in a "meditative state," using music to get into the right headspace and often painting for many hours at a time. He studied at Oxford University's prestigious Ruskin School of Art.

Jafri stated, "It's strange because I'm painting for the subconscious while in a meditative state and completely in a trance. Despite not knowing what I'm doing, the resulting artwork tells a strong narrative that I haven't thought of before."

In 2020, Jafri sold his 1,595.76 square meter painting "Journey of Humanity" at an auction to benefit children's charities.

In 2021, entrepreneur Andre Abdoune bought a huge artwork by artist Anish Kapoor for $62 million, making him one of the world's most expensive living artists. However, in 2022, Emad Salehi's "The story of the ball" piece surpassed this record, covering almost 10,000 square meters.

Jafri has a unique selling strategy. He turns down 99 out of 100 people who want to buy his work, but one in 100, he considers the right person for a specific piece.

As an artist, I am sacrificing a part of myself. These pieces represent my soul. I need to know that they will be cherished and cared for.

Jafri's paintings are in high demand, with around 150 people on a waiting list to buy. He plans to continue painting until his death and aims to increase the value of his work every year.

Jafri stated that buyers who missed out on a piece may be prioritized for his next collection, which would increase the demand for his work tenfold. This, in turn, would keep the interest in his work high and the supply low, leading to a higher value for his work.

He believes that selling his work at auction too early can lead to a boom-bust, which can reduce its perceived value and lessen demand.

While some artists view generative AI as a threat, others are experimenting with its use in their work.

Jafri believes that AI is not art, but rather a highly useful tool in various fields such as advertising, marketing, and graphic design. However, he emphasizes that true art requires love and empathy, and AI cannot replace the human touch in creating art.

Watch The Art of Appreciation on CNBC International

by Lucy Handley

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