Where Does Subodh Gupta’s Market Go from Here?
In the month of September, more than $6 million worth of Gupta’s works were sold. If that weren’t enough, the artist’s top 17 prices were all achieved within the last six months.
If you were worried that you might have missed your chance to own a Gupta, don’t fret. The feeding frenzy isn’t over. In Hong Kong next week, Sotheby’s is selling this untitled painting which is similar to this untitled painting that made $962,500 recently in New York.
But the real fireworks are going to come during the Frieze sales in London when this pots-and-pans picture, Idol Thief, estimated at between £600-£800,000, goes on sale at Christie’s. The auction house got $1.166 milion for Steal 2 just a few weeks ago during New York’s Asia Week. This untitled pots-and-pans painting at Sotheby’s at the Frieze sale is estimated a little lower at between £300-£500,000. Cow, estimated at between £250-£350,000, follows the $866,500 sale of One Cow . The wall piece, Curry 2, carries a £250-£350,000 estimate too. But Miter, a corner piece, just sold at Christie’s for $1 million.
Sotheby’s Contemporary Indian Art expert, Zara Porter Hill talks about the works by Indian artists offered in Hong Kong next week. Her comments appear in India’s Economic Times:
“This is a market that has seen rapid growth in recent years and we feel that this is the perfect time to introduce Indian artists to our contemporary Asian art sale there. [ . . . ] Gupta’s work is one of the most important works by him to ever come to the auction market,” Zara Porter-Hill, director and head of Indian art at Sotheby’s, said in a press statement issued from Britain.