Sotheby's Israel has an annual international auction of Israeli art and Judaica held in New York. Pieces by top name Israeli artists as well as works by up and coming artists are represented. There is generally a pre-auction exhibition in Tel Aviv in order to allow Israeli patrons to view some of the art. This year Sotheby's displayed the pieces in Beit Kastiel, a gallery/party space attached to the famous Kastiel furniture store. The gallery is a funky space located in gritty south Tel Aviv in an area which has a Soho feel. I was fortunate to be part of a private group tour. However, I have been told that the art exhibit is open to the general public. The auction is generally in the winter so the artwork is displayed in Israel sometime in the fall. One should check with Sotheby's Israel for exact dates.
Sotheby's Israel - 11 Yehuda Halevi (Tel Aviv) - 03-560-1666
Beit Kastiel - Elfassi 36 Tel Aviv