Indian art sells for $1,360,000 in NY

Francis Newton's Man and Woman fetches the fabulous sum at the Modern and Contemporary Indian Art sale.

Modern and contemporary Indian art seems to have come of age with the work of one of the artists from the country fetching a fabulous $1,360,000 at a New York sale this week.

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At the Modern and Contemporary Indian Art sale held in New York on Wednesday, Indian Francis Newton Souza's Man and Woman, 1954, realised $1,360,000 - more than quadrupling its pre-sale estimate - and was bought by an Indian hedge fund manager, leading auctioneer Christie's said.

"Reflecting back on our first sale of modern and contemporary Indian art in New York which took place in 2000 and realized 600,000 dollars, this event was a tremendous testimonial to the buoyancy and the energy of Indian art, its collectors and its supporters," said Yamini Mehta, Head of Modern and Contemporary Indian Art, Christie's.

"We are extremely excited that the artists and their collecting base have become an integral part of the international art market and with our presentation of modern and contemporary Indian art in our sales in New York, Hong Kong and Dubai, Christie's continues to vigorously support this category," she said.

Two more Souza works, Untitled (Spanish Landscape), 1960 and Row of Red Houses with Trees, 1957, were sold for $688,000 and $374,400 respectively.

Tyeb Mehta, one of the most coveted artists in the field, was presented with Untitled (Figures with Bull Head), circa 1987. This impressive composition in yellows, greens and shades of grey, which pre-figures Mehta's obsession of Goddess Durga, realised $1,136,000 and was bought by an Indian private collector.