Sher-Gil's Untitled (Zebegeny Landscape) led the sale against a pre-sale estimate of Rs 3.9 crores to Rs 5.2 crores (USD 600,000 - 800,000).
Artist Amrita Sher-Gil's In the Ladies' Enclosure became the second most expensive Indian work of art sold globally, after fetching a whopping Rs 37.8 crore at Saffronart's recent Summer Live Auction.
The auction will also feature works of M F Husain, as well as early works by masters Tyeb Mehta and Francis Newton Souza.
MF Husain's Untitled (Gram Yatra), a 13-panel masterpiece from the 1950s, has been sold at a Christie's auction in New York for USD 13.8 million, setting a new record for the most expensive work of modern Indian art. The sale nearly doubles the previous record held by Amrita Sher-Gil's "The Story Teller." "Gram Yatra," meaning "village pilgrimage," is considered a cornerstone of Husain's oeuvre, celebrating the diversity of independent India. The painting was acquired by a doctor in Delhi in 1954 and later bequeathed to Oslo University Hospital. The proceeds of the sale will support the training of future doctors at the institution.
'High taxes have kept away art collectors who will now embrace the new GST.'
Officials said the Enforcement Directorate along with the Central Bureau of Investigation launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai's Worli area which resulted in the recovery of fresh valuables.
"Vivan Sundaram passed away this morning at 9.20 am. Further details of the cremation as decided will be communicated to you shortly," read a note issued by Safdar Hashmi Memorial Trust (SAHMAT), of which Sundaram was a founding trustee.
Proceeds from the sale will support the training of future generations of doctors at the Oslo University Hospital. The fascinating story behind the Husain painting which set a new record for modern Indian art.
India's women artists, says Kishore Singh, look at politics and society and want to provoke reactions on issues based on their inheritance and understanding of gender, class, caste and environmental disparity.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
An oil painting by abstract artist Vasudeo S Gaitonde set a new world record for Indian artwork when it sold for a whopping Rs 29.3 crore ($4.4 million) at a Christie's auction in Mumbai on Tuesday.
The auction was watched closely as it comes at a time when other major names like Christie's have pulled out of India.
'I don't feel like going back to India, to the old Delhi that I grew up in. Because the place doesn't exist anymore.'
The sale lot of 61 pieces of art, which was spread across a variety of categories such as modern and contemporary South Asian art, prints, and photographs, realised an estimated sale price of Rs 23.8 crore. Pre-auction estimates had expected the sale to range between Rs 37 crore and Rs 52 crore. Around 11 pieces of art remained unsold on Day One, reports Pavan Lall.
'I had a very painful shoulder surgery after a fall in the park.' 'I am nursing myself back to sturdiness slowly and steadily.'
The 'Artery Top 500 Works' list features the most expensive Indian works of art that have been sold so far. Their collective realised price? $367.9 million! As the demand and value of Indian artists grows internationally, we look at the record setters.
All rumours regarding the premature death of the art market have proven to be just that -- rumours -- with a healthy appetite for masters pushing prices up. Kishore Singh reports.
'Later, I asked Hrithik how he could have remained so calm in the circumstances. He told me simply, "What could have happened? At the most, they would have killed me".'
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
Kishore Singh on Jean-Michel Basquiat and his worth.
'That secularism in India is at risk is alarming for someone like me. I'm born secular,' Anjolie Ela Menon, the well-known painter, tells Pavan Lall.
What makes Indian abstract art more valuable is its relative rarity. V S Gaitonde, S H Raza and J Swaminathan are the only major names in modern Indian art known for their abstracts.
'... A youth movement which could really transform our politics in a way that the existing elites don't understand.' 'The more you suppress free expression, the more people will value it.' 'The State can't suppress a young society like India where there are so many interesting new ideas emerging,' says Sunil Khilnani, whose latest book Incarnations looks at Indian history through 50 lives.
It beats Netflix any day, exclaims Prithvi Singh.
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