MUMBAI.- The latest edition of
AstaGuru’s Modern Indian Art Online Auction concluded on 9 September 2021 with an outstanding sales value of INR 42,69,72,421 crores (US$ 5,930,146). The auction achieved a ‘White Glove Sale’ with 100% lots sold along with 4 world records for artists Meera Mukherjee, Laxma Goud, Laxman Shreshtha, and Badri Narayan. The auction witnessed competitive bidding across the board as the catalogue featured an impressive line-up of iconic masterpieces from some of India’s most distinguished modernists.
Speaking about the results, Sneha Gautam, Vice President- Client Relations, AstaGuru, said, “AstaGuru is extremely proud of the white glove result achieved by our modern Indian art offering this September. The exceptional results substantiate AstaGuru’s leadership in the modern Indian art market for offering quality works to our clients at varied price points. With every curation, we aim to offer works that are representative of the best that Indian modernism has to offer. The sale featured several milestone works by modern Indian artists and the overwhelming response from collectors underscores the continued demand for works by the modernists that are new to the auction market and have great provenance. Furthermore, the four world records set for artists K Laxma Goud, Meera Mukherjee, Badri Narayan, and Laxman Shreshtha, indicate that the Indian art market is blossoming and that collectors are looking beyond works by the Progressive Artists Group to expand their collections.”
The top highlight of the auction was Lot 28, M F Husain’s Untitled, 1972, an iconic anti-war painting which was a response to the Bangladesh Liberation War of 1971, which resulted in the India - Pakistan conflict. This extraordinary composition is a highly significant work from Husain’s oeuvre, originally from the Pitti family collection. It was offered at auction for the very first time and realized the highest price of the sale at INR 3,45,00,000 crores (US$ 479,166). The work offers a rare glimpse into the artist’s political intellect, and at the same time showcases his mastery with the brush.
The online auction established four world records for artists Lot 16, K Laxma Goud, Untitled, circa 1980, achieved a world record price for the artist selling at INR 1,70,94,045 (US$ 237,416). This extremely intricate large-scale masterpiece by Goud is a unique creation in the artist’s oeuvre that was previously exhibited at his solo exhibition titled ‘K Laxma Goud: Solo Exhibition’ at Artworld, Sarala’s Art Centre, Chennai in 2017. The presented lot also featured on the cover of the exhibition’s catalogue. This one-of-a-kind composition witnessed great interest from bidders in the auction.
Lot 3, Meera Mukherjee’s Dancing Baul – 2, a bronze sculpture from 1981, achieved the highest price for the artist at an auction, realising an impressive bid of INR 1,31,31,146 (US$ 182,376). The demand for Meera Mukherjee’s works has grown consistently over the past years. This record-breaking sculpture was published in the book ‘Meera Mukherjee: Purity of Vision’ by Akar Prakar, Kolkata. The presented lot features a Baul singer, the group of mystic singers were very famous in Calcutta, giving us an insight as to the inspiration behind the artist’s work.
Lot 19 - Laxman Shreshta’s Untitled (Diptych), oil on canvas, 1994, the large-scale work executed in his signature style, also published in Dhoomimal Gallery Catalogue’, India Art Fair - 2019, sold at a world record price for the artist at auction realising INR 52,31,381 (US$ 72,657). Badri Narayan’s, Untitled, oil on canvas, circa 1960, received a world record bid of INR 1,07,38,094 (US$ 149,140), achieving the highest price for the artist at auction. All the records establish further cements Modern Indian Art’s stability and growth, one can consider the case of Badri Narayan’s record. The presented lot (no. 9), was the existing, most expensive painting sold for the artist at an auction, the record was established in 2008 during an international auction and was sold at $ 74,500. The sale last night, re-established the world record for the artist, selling at INR ₹ 1,07,38,094 / $ 149,140. The new world records showcase the increased demand for Modern Indian artists with an impressive increment in the bids fetched.
The auction also included several important works from different stages of eminent modernist S H Raza’s illustrious career. Lot 37, Raza’s Prakriti, executed in 1997, made its auction debut in the catalogue, achieving the second-highest price of the sale at INR 2,39,02,931 crores (US$ 331,984). Executed in a primarily blue palette with hues of black and green, the work showcases how Raza’s style had completely evolved from his early abstract landscapes and French-influenced style towards spiritual concepts, geometric shapes, and his explorations with the motif of the ‘Bindu’. Another key highlight of the auction was Lot 44, a crucial work from the artist’s oeuvre titled ‘The Earth’ from 1982 which was the third-highest sale for the evening, selling at INR 1,98,14,272 crores (US$ 275,197). This extraordinary creation showcases his deep understanding of his motherland.
Another important highlight in the sale was Lot 34, an early Landscape, 1963, by Akbar Padamsee, which achieved a sales total of INR 1,50,93,750 crores (US$ 209,635). The presented lot signifies a transitional phase in Padamsee’s artistic journey where he was exploring different visual expressions, beyond the realm of the human figure and the genre of still-life. These abstract landscapes were executed by Padamsee shortly after his famous grey series works and act as the formative ground upon which he went on to build his Metascapes.
