Kaaba key sets new Islamic art auction record

By Mike Collett-White

LONDON (Reuters) - A 12 century key to the Kaaba in Mecca, Saudi Arabia, the holiest site in Islam, sold for 9.2 million pounds ($18.1 million) late on Wednesday, setting a new record for an Islamic work of art at auction.

The Abbasid period key, made of iron and measuring 37 cm long, sold at Sotheby's in London for more than 18 times its pre-sale estimate and was bought anonymously. It is the only known example to remain in private hands.

The key, one of the ultimate symbols of religious power, is engraved with the words: "This is what was made for the Holy House of God during the time of our lord the Imam son of Imam al-Muqtadi Abu Ja'far al-Mustansir Abu'l-Abbas 573."

It was the highlight of the auctioneer's Islamic sale, which realized 21.5 million pounds, in excess of the pre-sale high estimate of 13.1 million pounds and a new record for an Islamic art auction.

"Remarkably, the sale realized more than the Islamic department's annual total in 2007, demonstrating beyond doubt the burgeoning and international demand for Islamic Art," said Edward Gibbs, head of Sotheby's Islamic art department.

The previous record for a work of Islamic art sold at auction is believed to be a bronze fountainhead in the form of a hind dating from mid-10th century Spain. It sold at Christie's in 1997 for 3.6 million pounds.

RARE DAGGER BEATS ESTIMATES

At a separate London auction held at Bonhams on Thursday, a rare dagger that once belonged to 17th century Mughal Emperor Shah Jahan sold for 1.7 million pounds, four times the estimate.