After modern Indian artist Vasudeo S Gaitonde's work made headlines by going for a record-breaking $3.8 million at the Christie's auction in Mumbai earlier this year, his work was also received well at the recently-conducted Sotheby’s auction in New York. It fetched over $2.5 million (15.2cr) at the sale by global auctioneers.
Gaitonde’s Painting No 3, was the cover lot for the Modern and Contemporary South Asian art sale, which raked in over $6.6 million (`39.7cr) sales well within the pre-sale estimate of $5.3 million to $7.8 million, the auctioneers said.
The artist is set to the subject of a major retrospective at the Guggenheim Museum in New York this autumn, making him one of the first Modern Indian artists to be have a retrospective in the United States.
Yamini Mehta of Modern and Contemporary South Asian Art, Sotheby’s said "Our sale had all the hallmarks of a strong result — quality works that were fresh to market with attractive prices. Bidders from around the world responded in kind, with over 90% of our lots sold by value. Over 97% of lots sold achieved prices at or above their pre-sale estimate."
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Priyanka Mathew of the auction house, said: "It was an honour to accept the winning bid for our museum-quality Gaitonde which sold for over $2.5 million, a further privilege to be the first South Asian auctioneer to take a bid over $1 million for an Indian work of art. While our sale was uniformly strong throughout, we saw particularly active bidding and engagement for the portraiture section, alongside works by South Indian masters and particularly impressive results for our contemporary offering."
Other sales include
Buffalo Among Flower Bed — a rare early landscape by Bhupen Khakkar sourced from the collection of Johanna Nestor Austria's ambassador to India from 1966 to 1970, it exceeded pre sale estimates to go under the hammer for $2,93,000 (1.7cr).
Sweatopia by contemporary artist Jitish Kallat, which fetched $2,21,000 (1.3cr).
SH Raza's Untitled fetched $2,21,000 (1.3cr).
Francis Newton Souza's Untitled (landscape) sold for $2,21,000 (1.3cr).
Manjit Bawa's Untitled sold for $2,09,000 (1.2cr).
Subodh Gupta's 2007 work, Idol Thief III, which went for $1,85,000 (1.1cr) to a private Asian buyer.
MF Husain's Untitled (Three Horses) went for $1,61,000 (96lakh) to a private Indian buyer.