International auction house Sotheby’s on Wednesday announced the acquisition of a rare work of abstract artist Vasudeo S Gaitonde, that would lead its Modern and Contemporary South Asian Art sale in New York on March 19.
Gaitonde’s painting No 3, (estimated to be more than worth $2 million), is a major work by the artist coming from an important American collection, the auction house said in a statement. “Included in one of his earliest New York exhibitions in the 1960s, this work captures a pivotal moment in the artist’s career when he turned away from his earlier geometric works and began to ­experiment with a paint roller and palette knife,” said Sotheby’s.
“Gaitonde is hugely ­celebrated internationally. He will be the subject of a major retrospective at the Guggenheim Museum in New York, making him one of the first modern Indian artists to be honoured with a retrospective in the United States,” it added.
According to Sotheby’s vice president (head of sales, modern and ­contemporary South Asian Art) Priyanka Mathew, the sale of painting No 3 follows the top price achieved by the artist’s painting No 1 at Sotheby’s London that was sold for $1.1 million June 11 last year.