Saffronart held a life evening sale last month that had a strong result. More impressive still was the day sale where all 70 lots sold for an additional $880,525.
Gaitonde Estimated at $2m Leads Sotheby’s March Sale
Sotheby’s announces a significant Gaitonde for its Asia Week sales in New York this March:
Leading the Modern & Contemporary South Asian Art sale in New York on 19 March 2014 during Asia Week, Vasudeo S. Gaitonde’s ethereal Painting No. 3, estimated in excess of $2 million, is a major work by the artist coming from an important American collection. Included in one of Gaitonde’s earliest New York exhibitions in the 1960s, this work captures a pivotal moment in the artist’s career when he turned away from his earlier geometric works and began to experiment with using a paint roller and palette knife. Gaitonde is hugely celebrated internationally, with his works achieving ever-higher prices at auction. Reflecting this success, Gaitonde will be the subject of a major retrospective at the Guggenheim Museum in New York this autumn, making him one of the first Modern Indian artists to be honoured with a retrospective in the United States.
The Secret of Souza’s Success
Georgina Adam adds some color to the white glove sale Saffronart conducted in Mumbai with works from F.N. Souza’s daughter. The 101 lots were snapped up despite India’s recent monetary problems as the rupee crashed 20% in value in response to threatened monetary tightening by the Fed in the US:
“Anywhere but in India, the sale would have been a disaster,” commented dealer Conor Macklin of London’s Grosvenor Gallery, who was present. “There are not enough Indian buyers outside the country, nor enough people who can spend money overseas since the government reduced the amount Indians can export. But the sale shows that there is still a lot of interest in more traditional art in India,” he added.
Prosperous on the Bosphorus (Financial Times)
Saffronart’s Live Souza Sale Sells Out = $1.26m
Christie’s NY South Asian Mod + Cont = $5.096m
