Indian modern art fetches 4.28 million pounds in London auctionMay 3rd, 2008 - 8:55 am ICT by admin
London, May 3 (IANS) A painting by Francis Newton Souza fetched the top price of 580,500 pounds - outperforming old masters Tagore and Jamini Roy - at an auction of Indian modern and contemporary art at Sotheby’s Friday. The painting, tilted The Red Road, was hotly contested by at least seven bidders before selling to a client on the telephone, Sotheby’s said
One of the stars of the sale, the canvas was a gift from Souza, who died in 2002, to his wife Maria in 1962, a period widely acknowledged as the artist’s most successful. The painting was exhibited at the Hayward Gallery in London in 1989.
The Souza was among 120 paintings, which together fetched a sum of 4.28 million pounds, showing the continuing appeal of modern Indian art, a Sotheby’s specialist said.
“Indian Art continues to prosper - it’s a market on the move,” said Zara Porter-Hill, head of Indian Art at Sotheby’s. She said the auction house was “thrilled with the response that we’ve witnessed.”
“Bidding came from a very international audience, which included private collectors, institutions and the trade. The auction was a great success and we now look forward to the international Contemporary sale in New York later this month which features a select group of works by Indian Contemporary artists.”
Sixty-seven percent of the paintings sold for prices in excess of their pre-sale high estimates.
Among the contemporary group, an untitled canvas by young cutting-edge artist Subodh Gupta fetched the top price of 264,500 pounds.
Two works by Akbar Padamsee were other strong performers in the modern section of the auction, a nude selling for 252,500 pounds and an untitled landscape fetching 264,500 pounds.
Rabindranath Tagore’s Death Scene made 144,500 pounds against an estimate of 15,000-20,000 pounds and his Bird sold for 70,100 pounds; and Jamini Roy’s Santal Couple sold for 29,300 pounds.
Tagore’s Death Scene established a new auction record for the artist.
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Tags: auction house, auction record, contemporary artists, contemporary group, death scene, francis newton souza, hayward gallery, indian art, international audience, jamini roy, london auction, old masters, padamsee, porter hill, private collectors, rabindranath tagore, santal, sotheby s, subodh gupta, wife maria