Result of the white glove for the sale of modern Indian art from AstaGuru

The recent sale of modern Indian art from online auction house Astaguru achieved a white glove result (a sale where all lots are sold), with all 30 lots sold for a total sale value of Rs 70, 68 crore.

The biggest collector of the auction which featured an impressive collection of 30 distinguished works of art by eminent Modernists was a 1971 work by abstraction master VS Gaitonde.

The untitled artwork in earthy tones with flecks of bright orange commanded a whopping price tag of Rs 14.12 crore.

The second highest auction total was made for another outstanding Gaitonde creation from 1970 and the untitled 1981 masterpiece by Tyeb Mehta which sold for Rs 13.80 crore each.

“Each year, we feature some of the best works of visionary artists who have shaped the trajectory of modern Indian art in India.

“We are pleased with the enthusiastic response we have received for the auction, with all lots achieving outstanding results. This white-glove sale is a testament to the confidence and high standards of modern Indian art, ”said Tushar Sethi, CEO of AstaGuru.

The auction house noted that a majority of the works on display were also on the auction block for the very first time.

Among the works that have generated notable interest are the untitled creation by Manjit Bawa and that by Jogen Chowdhury Woman’s story, a gigantic work from 2013 which sold for Rs 4.13 crore and Rs 4.02 crore respectively.

Other important highlights of the sale include the Blue Ganges which was auctioned for Rs 2.65 crore, and Krishen Khanna minstrels in the forest sold for Rs 1.28 crore.

The latter achieved the highest sale value to date for Khanna’s Bandwalla Series.

The auction also generated great interest in the works of the Bengal artist group, including Rabindranath Tagore, Gagendranath Tagore and Hemendranath Mazumdar.
Gagendranath Tagore Untitled (1930), gouache on paper, exceeded its upper estimate of Rs 10 lakh selling at Rs 27.88 lakh.

The majority of the artwork featured in the sale was first appearing on the auction marker, AstaGuru said in a statement.

Laura J. Boyer