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Of the fall and rise of art mart
January 28, 2008
A large number of auctions launch the season for 2008.
Osian's
Its 100 years of modern and contemporary art on January 19 saw prices
spiralling
again after some market correction. Works by J Swaminathan and S H Raza
commanded Rs 3.1 crore (Rs 31 million) each, Tyeb Mehta Rs 2.6 crore (Rs
26 million), M F Husain Rs 2.2 crore (Rs 22 million), F N Souza Rs 2.1
crore (Rs 21 million) and Ram-Kumar Rs 1.2 crore (Rs 12 million).
The sale, part of which consisted of the collections of Mukund and Neerja
Lath, and Suhridchandra Sinha, grossed a total of Rs 32 crore or Rs 32o
million (including 20 per cent buyer's premium but not the taxes).
Bid & Hammer
The Bangalore-based auction house debuted this week with a mixed bag of
modern and contemporary Indian paintings, even including an early S H
Raza. At the time of going to press, we learn from promoter M Maher Dadha
that Bangalore warmed up to artists who were inexpensive and the
collectibles, but also sold Husain, Raza and Jamini Roy, though there
were some timing hiccups. But then, his aim is also to promote unknowns,
such as R Raja "who is very good", he said.
Apparao
Online from February 28 to March 2, the Chennai-based gallery will plug
the gap in sculptors from the south. The pick of the lot, need one say,
is a resin head by Ravinder Reddy, who is already the highest grossing
sculptor in the country.
Emami Chisel Art
Also debuting with its first show next month (February 23) in Kolkata, at
a physical-cum-online auction of Indian modern and contemporary art, at
what director Vikram Bachhawat touts as the most competitive prices on the
auction circuit, he asks: "When was the last time you saw Souza from the
'50s (Rs 1.5-2 crore or Rs 15 to Rs 2 million), Tyeb Mehta (Rs 4-5 crore
or Rs 20 to Rs 50 million), Amrita Sher-Gil (Rs 12-16 lakhs or Rs 1.2 to
Rs 1.6 million for charcoals), Husain's 'Safdar Hashmi' (Rs 2-2.5 crore or
Rs 20 to Rs 25 million), Bikash Bhattacharjee (Rs 40-50 lakhs or Rs 4 to 5
million), Ganesh Pyne (Rs 12-16 lakhs or Rs 1.2 to Rs 1.6 million), Manjit
Bawa (Rs 40-50 lakhs or Rs 4 to 5 million) and Swaminathan (Rs 80 lakhs-1
crore or Rs 8 to Rs 10 million) together in an auction?" Point taken
K H Ara's The Temptation of Buddha from the Masterstroke Series.
Also read: When will the art bubble burst?
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