The just concluded Osian’s Masterpieces Series Auction in March had on offer a wide range of fine art by some of India’s Modern & Contemporary Art masters. The proportion of lots sold was 58%. According to the auction house, the major, high-value lots witnessed vigorous bids. Following are some of the highlights of the auction:
* It registered a sale of Rs 18.73 crore, including the hammer price plus buyer’s premium. Total selling price in comparison to the total lower estimate was at 109%.
* ‘Fervent bids’ took place for works by Raza, Rameshwar Broota and Akbar Padamsee, each fetching over a crore rupees.
* The National Art Treasures attributed to artists Abanindranath Tagore, Gaganendranath Tagore Sailoz Mookerjea, Jamini Roy, Raja Ravi Verma, and Nicholas Roerich were sold. Raja Ravi Verma’s rare 1884 gouache work, and the wonderful Himalayan Landscape captured by legendary Nicholas Roerich went for Rs 72 lakh and Rs 81.6 lakh respectively.
* Nearly 55% of work on offer by the Bengal Modern Masters like Ganesh Haloi, Ganesh Pyne, Bikash Bhattacharjee and Paritosh Sen was sold, whereas 61% of that from the Progressive Artists Group (PAG) artists, comprising Ara, Husain, Souza, Raza, Bakre and Gade found buyers at the auction.
* A Tyeb Mehta work, titled ‘Head Studies of the Mahishasura’ went for a whopping Rs 4.56 crore, at the Osian’s Masterpieces Series Auction.
Post-auction, the founder chairman of the auction house, Neville Tuli, was quoted as saying:
“We’re very conscious of our immediate commitment towards redemption of the art market. Once we complete this, we’ll refocus on expanding the auction house activity, especially in the realm of Indian antiquities as well as Modern & Contemporary Art.”
The auction signified a rising demand for quality works, comprising ‘Alphabet Stories II’ by Gulammohammed Sheikh, ‘Black Lillies’ by Jehangir Sabavala, and ‘Fisherwoman’ by B Prabha.
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