April 2, 2021 11:20:28 pm
Online auction house Astaguru’s recent Modern Indian art sale achieved a white glove result (a sale where all lots are sold), with all 30 lots selling for a total sales value of Rs 70.68 crore.
The highest fetcher at the auction that had on offer an impressive compendium of 30 eminent artworks by leading modernists, was a 1971 work by master abstractionist V S Gaitonde.
The untitled work in earthy tones with bright patches of orange commanded a whopping price of Rs 14.12 crore.
The second-highest total in the auction was realised for another exceptional creation by Gaitonde from 1970, and Tyeb Mehta’s 1981 untitled masterpiece that sold for Rs 13.80 crore each.
“Every year we present some of the best works by visionary artists who have shaped the trajectory of Modern Indian Art in India.
“We are happy with the enthusiastic response we have received for the auction, with all the lots realising exceptional results. This white-glove sale signifies the confidence and demand that Modern Indian art,” said Tushar Sethi, CEO, AstaGuru.
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The auction house noted that a majority of the featured works were also appearing on the auction block for the very first time.
Among the works that witnessed noticeable interest were Manjit Bawa’s untitled creation, and Jogen Chowdhury’s Story of Woman, a mammoth work from 2013 that sold for Rs 4.13 crore and Rs 4.02 crore respectively.
Other significant highlights from the sale include MF Husain’s Blue Ganges that was auctioned for Rs 2.65 crore, and Krishen Khanna’s Minstrels In The Forest sold for Rs 1.28 crore.
The latter achieved the highest sale value till date with regards to Khanna’s Bandwalla series.
The auction also witnessed great interest for works from the Bengal group of artists including Rabindranath Tagore, Gagendranath Tagore, and Hemendranath Mazumdar.
Gagendranath Tagore’s Untitled (1930), gouache on paper, exceeded its upper estimate of Rs 10 lakh selling at Rs 27.88 lakh.
A majority of the artworks featured in the sale were appearing on the auction marker for the first time, AstaGuru said in a statement.
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