Where Does Subodh Gupta’s Market Go from Here?
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.