An auction held at the Oberoi in New Delhi marked a significant moment for Indian contemporary art. The highlight of the auction was an Amrita Sher-Gil painting titled The Story Teller, which sold for a staggering ₹61.8 crore, making it the most expensive Indian artwork ever auctioned. This surpassed the previous record set by Sayed Haider Raza's Gestation, which sold for ₹51.75 crore earlier in the month. The auction, organised by SaffronArt, generated a total of over ₹181 crore for the gallery, setting two other art records.
Minal Vazirani, the co-founder of SaffronArt, described the sale of The Story Teller as an important milestone in the market. Sher-Gil, a Hungarian-Indian artist born in 1913, is considered one of India's national art treasures, and her works are highly sought-after. The painting received interest from local Indian collectors as it falls under the 'non-exportable Indian art treasure' category.
The auction also highlighted the emergence of a strong collector community in Indian art. Art critic and curator Uma Nair noted that investments in Indian contemporary art are increasing, with collectors recognising it as an asset class. The record-breaking auction results reflect the growing interest in India's national treasures.
In addition to The Story Teller, other artworks at the auction achieved significant prices. Raza's Earth sold for ₹19.2 crore, Tyeb Mehta's Red Figure sold for ₹9 crore, Akbar Padamsee's Paysage sold for ₹4.08 crore, and A. Ramachandran's Autobiography of an Insect in the Lotus Pond sold for ₹4.44 crore, setting a world record for the artist.
The auction of Amrita Sher-Gil's artwork adds to the list of Indian artists whose pieces have achieved record prices in the past decade. This includes Vasudeo S. Gaitonde's painting, which sold for ₹32 crore in 2020, and M.F. Husain's Voices from 1958, which fetched ₹18.47 crore during the pandemic.The success of the auction demonstrates the growing importance of the Indian contemporary art scene and the increasing recognition of Indian artists on the international stage.
Image Source : X
© Copyright 2023. All Rights Reserved Powered by Vygr Media.
