Largest Indian art sale fetches $ 2.8 million

The largest-ever sale of Indian art at Sotheby's London recently fetched $ 2.87 million.

According to a press release issued on Saturday, of the top ten lots sold at the auction, as many as six were bought by collectors based in the Middle East with a 19th century Flintlock gun with polychrome-enamelled gold mounts, fragmentary leather strap and an enamelled gold belt buckle attracting the highest bid -- $ 250,930.

Although the gun's barrel dates back to the late 18th century, it is believed that it was assembled in the early 19th century, during the reign of Mir Murad Ali Khan, one of the Talpur rulers of the erstwhile Sindh empire.

Another similar Fintlock, dated 1178-9 AD, was bought for $ 162,180 -- the second highest price at the auction.

Abdur Rehman Chaughtai's water colour A Woman Holding a Lotus On a Terrace, is the only painting that features in the top ten lots sold. It went for $ 44,540.

Simon Taylor, overall specialist in charge of the sale, said, ''We are exceptionally pleased with the results of Sotheby's first sale devoted to the arts of India. The concept of assembling such a wide range of objects together with the largest group of contemporary Indian paintings proved very successful and attracted considerable attention from established collectors as well as new buyers.''

There was strong interest from the Middle East in the works of art section with the response far exceeding estimates. The sale was well supported by non-resident Indians and Western collectors. The modern and contemporary market is still young, but there were good prices for M F Husain, Anjolie Menon and Ganesh Pyne.

UNI