Having a reputation as the “older, quieter brother” of the two Aboutaam brothers, a story is told of one of Ali’s earlier ventures into acquisition of antiquities.
“I remember there was an auction in London, “explains Ali. “I was 25 years old, wearing a jean jacket, and it was an auction of really tiny things. I was trying to buy the whole thing- everything.”
Outbidding even his most motivated competition, Ali continued to bid until he paid £14,000 for a piece which was listed at £200-£400; about 70 times more than Christie’s estimated value.
Laughing, Ali described the auctioneer as making comments like, “This is a record!”
When the auction was over, Ali sent a friend who was working for the Aboutaams to collect the pieces they had purchased for a total of £400,000. “Everything could fit in his hand!” Ali exclaims.
What seemed to some as reckless purchases at the time turned out to make excellent business sense later, when much of what Ali had purchased at auction that day has since sold for double, and even triple what was originally paid.
Some of the finest miniature pieces that were purchased that day at Christie’s are still in the brothers’ collection.