Noted artist Tyeb Mehta passed away at his residence in Mumbai on Thursday morning. Mehta was suffering from a heart ailment. The 83-year-old artist holds the record for the highest price an Indian painting has ever sold for in a public auction for 'Celebration' at Christie's in 2002. In May 2005, his painting 'Kali' sold for Rs one crore at Saffronart's online auction. In December 2005, Mehta's painting 'Gesture' was sold for Rs 3.1 crore to Ranjit Malkani.
Modernist painter Tyeb Mehta's Yellow Heads, which he painted in 1979 was showcased along with 'Steal 2,' an oil on canvas measuring 167.8cm X 228.5 cm by multimedia specialist Subodh Gupta as part of the 20 exclusive art works displayed at a select preview in New Delhi. Yellow Heads was tagged at between 2 crore (Rs 20 million) to 3.48 crore (Rs 34.8 million) and Steal 2 was estimated between 3.4 crore (Rs 34 million) and Rs 5 crore (Rs 50 million).
This is the highest-ever amount to be paid for a piece of contemporary Indian art.\n
"It's true that at an international auction, film memorabilia would sell for at least 100,000 dollars. But we have given ourselves a 20-year timeframe. We'll certainly get better," Tuli added.
Renowned artist Tyeb Mehta's untitled canvas depicting a falling bull on Thursday got sold for a whopping Rs 15 crore at the second edition of Indian art auction held by the Christie's in Mumbai.
The painting was purchased by Ranjit Malkani, chairman of Kuomi Travel, an Osian's release said.\n\n
Christie's second art auction in Mumbai saw 78 works by Indian artists fetching a total of Rs 75.27 crore.
Modernist painter Tyeb Mehta's work Blue Painting sold for over Rs 11 crore (1.1 million pounds) at Sotheby's London auction, which grossed Rs 46.4 crore (4.6 million pounds), the highest total of the season for any sale in this category.
'High taxes have kept away art collectors who will now embrace the new GST.'
Sotheby's auction will be followed on Thursday by Christie's.
No one has been able to touch Tyeb Mehta - not even Mehta himself - after his Mahisasura fetched a record $1,584,000 crore at an auction last year.
The auction was watched closely as it comes at a time when other major names like Christie's have pulled out of India.
Sotheby's raised $1.5 million for Kolkata Musuem of Modern Art in New York
All of a sudden, in the space of some weeks, the nation seems to be running up a deficit on its cultural capital.
Tyeb Mehta's untitled work, F N Souza's Titian's Grandfather and Jogen Chowdhury's Couple A are among Indian modern art works that would be auctioned by Saffronart.com, a leading online auctioneer, on December 5 and 6. The lower end sales estimate of the 110 lots of work to be auctioned is $ 7.2 million.
The auction was held by Christie's on Monday evening and the highest price of 720,000 pounds went for Syed Haider Raza's La Terre (1985).
The auction will also feature works of M F Husain, as well as early works by masters Tyeb Mehta and Francis Newton Souza.
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.
During their trip, the Trumps will be booked into the 14th floor of the ITC Maurya hotel in the Grand Presidential Suite in New Delhi. Trump will be the fourth US president to stay at the ITC Maurya in the recent past. US president Barack Obama, Bill Clinton and George W Bush also chose the same facility.
The lobby of ITC Maurya has several artworks by 20th century masters like Krishen Khanna, Akbar Padamsee, Tyeb Mehta and M F Husains. It has everything going to become India's first art museum hotel.
The recent India Art Fair in New Delhi generated greater interest than before in local contemporary artists among a growing cohort of Indian collectors, including millennials. But growth in Indian art is not restricted to that alone. This year saw 91 exhibitors, a much higher number than 63 in the previous edition - indicating a flourishing market. While live auction sales were largely suspended during Q2 of 2020 due to Covid-19 precautions, global fine art auctioneer Christie's says online-only sales were up 262 per cent in 2020 to $311 million), marking a record total for the channel.
Since the note ban was announced auction houses, galleries and art fairs are witnessing lukewarm sales -- even with masters like Souza, Raza and Padamsee. Ritika Kochhar reports.
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.
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.
A Mughal-era manuscript filled with Indian miniatures discovered locked up in a cupboard inside a rural England castle is now up for sale at Sotheby's upcoming auction in London.
It beats Netflix any day, exclaims Prithvi Singh.
Ranjita Ganesan and Nikita Puri chronicle the journey of Abhishek Poddar, one of India's leading art patrons.
The West has built a culture of art philanthropy.
A meeting to pay homage to K G Subramanyam, one of India's most interesting painters and thinkers.
'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
'India stands on the broad shoulders of an extraordinary civilisation. In some ways it is quite surprising that it hasn't fully embraced the power of that.' 'The prime minister speaks about Make in India. Let's remind ourselves also of Made in India. What made India great. What are the great things of the past which will help us make India even greater.' 'India stands on the broad shoulders of an extraordinary civilisation. In some ways it is quite surprising that it hasn't fully embraced the power of that.'
Indian billionaires do not believe in sitting on their wealth.
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