ARTnewsletter Archive

Indian Art Fetches Solid Prices at Online Auction

Saffronart’s latest online auction of modern and contemporary Indian art, held Feb. 2–3, yielded solid prices that fell within expectations, albeit at levels considerably lower than its previous sale, held in December.

NEW YORK—Saffronart’s latest online auction of modern and contemporary Indian art, held Feb. 2–3, yielded solid prices that fell within expectations, albeit at levels considerably lower than its previous sale, held in December. The house realized a total of $746,402 for 60 lots offered, meeting the estimate of $578,590/771,975. Of the 60 lots, 49, or 82 percent, found buyers. By value the sale was 55 percent sold.

The top lot was an untitled 2006 painting by Subodh Gupta, estimated at $150,000/200,000, which sold for $184,000. That was followed by an untitled sculpture by Ravinder Reddy of a woman’s head with a gold painted face, which sold for $140,000, above the $80,000/100,000 estimate.

Other top lots included Invasion, 2006, an oil by Jyothi Basu estimated at $45,000/55,000, which sold for $60,375, and Stammer in the Shade-V, 2005, a two-part mixed-media work by Atul Dodiya of acrylic, marble dust and gold leaf on canvas with iron crutches, which sold for $55,776 on an estimate of $25,000/35,000.

A Chanced Meeting Between Nukata No Okimi and Serendipitious Yayavar, 2004, a six-panel work by Rekha Rodwittiya, sold for $27,025 on an estimate of $15,000/20,000, and Unconditional, 2002, a mixed-media work by Riyas Komu composed of seven wood pots connected by powder-coated iron pipes, sold for $9,200, on an $8,000/10,000 estimate.

Prices and overall sale volume were far higher at Saffronart’s previous online sale of Indian art, held Dec. 8–9. That sale realized $7million for 100 lots offered, within the $6million/8million estimate. Of the 100 lots, 80 found buyers, and 46 were sold above high estimate, the auction house said.

The top lot in the December sale was Wish Dream, 2000–1, a monumental mural by Arpita Singh made up of sixteen individual canvas panels which sold for $2.2million.

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