The art auction by Sotheby’s London on Tuesday, 18th October, 2016 of Modern and Contemporary South Asian Art realised £4,015,125, ($4,915,316), exceeding the pre-sale estimate of £2.7-4m. ($3.3 – $4.9m). The sale was led by Francis Newton Souza’s masterwork, ‘The Deposition’, 1963, which sold for £1,565,000 ($ 1,915,873) almost three times the high estimate. There was also an outstanding result for another of Indian’s Modern Masters, with Vasudeo S. Gaitonde’s Untitled, 1973, selling for £965,000 ($ 1.8m), doubling the price it achieved when last on the market in 2013.
Yamini Mehta, Sotheby’s International Head of Indian and South Asian Art, said: “We’re delighted with today’s sale result which demonstrates the strength of the market internationally for this field of collecting. The sale total exceeded expectations, driven by a broad global spread of buyers from Europe, US, India and the Middle East. Almost fifty per cent of the lots sold achieved prices above their high estimate, and the sale overall reached the highest sell-through rate in this category at Sotheby’s since 2008. This is truly testament to the winning combination of outstanding fresh-to-the-market works offered with appealing estimates. I’m particularly thrilled that, having been entrusted by the Amacker collection of 21 paintings that had not been seen since the 1970s, every single one of them found new homes, and many went for multiple times their estimates. This is a fantastic launch for our Art of the Middle East and India sale week in London, which continues with the sale of Indian miniatures from the esteemed Khosrovani-Diba collection.”
Here are the top ten art works at this auction on Sotheby’s London.