After a successful round of sales earlier this year in May and September, Christie’s had set the bar very high for themselves for their India sale, which happens to be their third one in the country. The results appear to be more than satisfactory, with the sale reaching a total of Rs 97,69,90,000 (US$14.7 million), the highest total for any auction in India.
The auction house managed to sell 95 per cent of the lots, which is in line with the results of the previous annual auctions. The sale witnessed strong bidding across price points from clients around the world.
The auction house had high expectations from V.S. Gaitonde’s Untitled. It sold for Rs 29,30,25,000 (US$4.4 million), highest price in the modern and contemporary art. It also broke the previous world auction record for the artist when his work had sold for Rs 23,70,25,000 (US$3.7 million). Five bidders on telephone and in the room battled for the Gaitonde masterpiece, an oil on canvas and in the end it went to an “anonymous international collector”.
In the classical art category, which was introduced for the first time this year, the granite figure of a Dvarapala, South India, circa 10th Century, sold for Rs 1,70,25,000. Ninety-nine per cent of the 28 lots in this section were sold.
William Robinson, International Head of World Art, Christie’s said, “The results speak for themselves – 73 per cent of lots sold above estimate, 9 new artist’s records and a first this year, a consolidation of our position in India with the addition of 28 lots of classical art within our sales. With each sale, our collectors here increase in number and appetite and the demand for works of top quality is there to be met.”
