Ossian’s, the Indian auction house, held a sale that combined classical Indian art and Modern & Contemporary art into one $1.9m event that had a sell through rate of 75%. The classical art had a better success rate–though the overall numbers of 81 lots makes this not very significant–but the Modern and Contemporary work generated higher prices. The Economic Times spoke to Osian’s chairman, Neville Tuli:

“This auction clearly demonstrates that the Indian collector in India is now ready and willing to purchase and bring back India’s artistic heritage in a systematic and transparent manner. Hopefully, the Indian government will now encourage the necessary legislation changes so as to help make more simple and evident the process of registering our antiquities and thereafter its public display in every corner of the country.”

Osian’s Indian Arts Auction Clocks Rs 9.06 Crore (Economic Times)