Sotheby`s provides a boost to Indian art

Sotheby`s annual sale of Indian art in London was a pep pill for Indian art.

London, June 21: Sotheby`s annual sale of Indian art in London on June 16 was a pep pill for the market revealing that all was on track in terms of prices for top artists. Francis Newton Souza`s "Orange Head" and Jogen Chowdhury`s "Day Dreaming" were the top-selling lots for the sale.

Jogen Chowdhury`s ink and pastel composition, "Day Dreaming" sold for 373,250 pounds (USD609,629), over three times its pre-sale estimate of 80,000-120,000 pounds setting a new price record for the artist. Francis Newton Souza`s "Orange Head" sold for 403,250 pounds against an estimate of 80,000- 120,000 pounds. Officials at Sotheby`s said this was the highest price of the summer auction series of Indian Art at any auction house. "Horses", 1950 canvas by Maqbool Fida Husain was picked up by a private collector in the US for 109,250 pounds while an untitled 1953 canvas went to a private collector in London for 1103,250 pounds. A collector from India carried home another untitled canvas for 85,250 pounds. Another untitled oil on canvas work by Manjit Bawa sold for 882,850 pounds. The sale raked in more two million pounds, a sum in excess of the pre-sale expectation of 1.1-1.7 million pounds. IANS