Dubai is known for its bright lights, flashy cars and love of all things luxury. And with that comes potentially fertile pastures for global auction houses. CGTN'S Jacob Greaves reports on the crown jewels being dangled in front of Dubai buyers in a bid to expand operations in the UAE.

After 200 years behind closed doors, the jewels of a beheaded French Queen have made their way to Dubai. The pearls and diamonds of 18th Century monarch Marie-Antoinette are in the city before going to auction. This pendant alone, all 49 carats of it, could set you back between 1 to 2 million dollars. That means courting a certain kind of buyer.

DANIELA MASCETTI, SENIOR JEWELLERY SPECIALIST SOTHEBY'S "The market here has always been interested in jewels. I mean it is something endemic in the population, the passion for gold, the passion for pearls and in the last few years we've really noticed a great interest for jewels that are special, that are historic."

The jewels of a Queen who faced the guillotine aren't the only items to go under the hammer. A painting by Rembrandt could fetch $8 million.

JACOB GREAVES DUBAI "Showcasing the artefacts here in Dubai speaks of a recent attempt by Auction Houses to make further inroads into the UAE-one explanation, per capita there's plenty of people with lots of disposable cash the UAE is estimated to have well over 80,000 millionaires."

Add the art infrastructure epitomised by the recently opened Louvre in Abu Dhabi. Sothebys say they view the UAE as a growing hub for the rest of the Middle East.

EDWARD GIBBS, CHAIRMAN SOTHEBY'S MIDDLE EAST AND INDIA "Well if you look at the statistics over the last five years we've seen a 62% increase in the number of buyers in the Middle East participating in our global sales and if you look at one category, watches, just last year of the number of middle eastern buyers participating in watches sale, 68% were new to Sotheby's that's a very significant figure for us."

Sotheby's held their first auction here last November- they will host another next month. And competitor Christie's recently chose Dubai for another high-end sale, this rare watch fetching over $900,000. They set up shop here more than a decade ago and have sold over $215 million in art alone. It's a window into a world few can afford. And a reflection of the regional wealth sellers hope to tap into. The Middle East market, via the UAE, appears to increasingly be a crown jewel for auction houses.