The New York Times gives the Indian art scene the once over. Somini Sengupta zeros in on the birth of public/private institutions that will form the backbone of an Indian Contemporary art establishment:

India is bursting with commercial art galleries, but Devi is poised to be what the Poddars’ home has been for many years: a noncommercial, nonprofit exhibition space for contemporary art from India and the subcontinent. Yamini Mehta, director of modern and contemporary Indian art at Christie’s auction house in London, described it as “a truly groundbreaking first for India.”

In a way, Devi (online at www.deviartfoundation.org) is the natural next step for a country awash in new wealth, soaring art prices and a prolific crop of artists and collectors. Think of it as India’s turn to do what the United States did in the early 20th century, when wealthy patrons came together to give birth to some of the most important American cultural institutions. India is not there yet, cautions Vishakha N. Desai, the India-born president of Asia Society in New York, but perhaps heading in that direction.

“I would very much hope that like-minded people will come together to build larger civic institutions that go beyond any individual collector or founder,” Ms. Desai said in an e-mail message.

A modern art museum is also under way in the eastern city of Calcutta. Herzog & de Meuron, the Swiss architecture firm that built the Tate Modern in London, is designing it. Construction is to start next year, and the museum is to open in late 2013, said Rakhi Sarkar, a collector there and one of the driving forces behind the museum.

Where Tradition Has Ruled, A Home for Contemporary Art (The New York Times)

Four Artists Get Evening Sale Billing

Sotheby’s makes a concerted effort to break out Contemporary Indian and Pakistani artists in their evening Contemporary art sales. With eight works estimated at a combined value of $4 million, Sotheby’s hopes the sale will continue a trend that promises to refresh and renew the Contemporary art category. Sotheby’s James Sevier comments (after the jump): Read the rest of this entry »

Christie’s South Asian Sale sets records, including the highest price for an Indian work of art

South Asian Modern + Contemporary Art
$10,614,225 Lots Offered: 111 Lots Sold: 78 Sold by Lot: 70%

Lot Premium Price Artist Title Date Estimate Price in Pounds

1. $2,487,931 Francis Newton Souza Birth 1955 600,000-800,000 £1,273,250
2. $1,918,926 Tyeb Mehta Untitled, 1984 300,000-500,000 £982,050
3. $1,174.842 Subodh Gupta, Untitled, 2007 300,000-500,000 £601,250
4. $658,986 Rameshwar Broota Havaldar – III, 1980 90,000-120,000 £337,250
5. $330,714 Subodh Gupta Magic Wands, 2002 25,000-30,000 £169,250
6. $283,818 TV Santhosh Untitled, 2005 30,000-50,000 £145,250
7. $236,922 Subodh Gupta Bucket, 2007 50,000-70,000 £121,250
8. $213,474 Ashim Purkayastha Attached Wings, 2004 40,000-60,000 £109,250
9. $213,474 Justin Ponmany Staple agony - II, 2006 30,000-50,000 £109,250
10. $190,026 Syed Haider Raza Rajput House, 1965-66 80,000-120,000 £97,250

With five artist records set in the top ten, Christie’s South Asian sale sets the stage for more Indian works in London’s Contemporary sales. Look for Gupta, Kher, Souza, Kapoor and Raza in a few weeks.

Christie’s Week of Sales in Hong Kong nets $310 million; 50 Lots sell for more than $1 million.

Christie’s holds a broad range of sales in Hong Kong from Watches to Ceramics to Contemporary art. The auction house’s highlights, records and market trends (as identified by their press office) after the jump

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