11th June, 2012

An untitled 1971 work by V.S. Gaitonde is expected to command the highest bid at Saffronart’s “Modern and Contemporary Indian Art” summer auction. The auction house has projected the painting’s price range as being between 2.7 crore INR (500,000 USD) and 3.78 crore INR (700,000 USD). The online auction, which will take place during a 24-hour period on June 19 and 20, seems to be banking more on Gaitonde and S. H. Raza this year.

Raza’s “Encountre” (1985) is estimated to be the second most expensive work in the auction and is priced between 2 crore INR (370,375 USD) and 2.5 crore INR (462,695 USD). The third most expensive work in the auction is also by Raza – the 1995 “Germination”, priced between 1.75 crore INR (324,075 USD) and 2.25 crore INR (416, 670 USD). M. F. Husain is ranked third with his 1970 untitled work being priced between 1.4 crore INR (259,260 USD) and 1.8 crore INR (333,335 USD). However, going by the sales at this summer’s auctions in Sotheby’s and Bonham’s, where Husain and Raza were outdone by F.N. Souza and Jehangir Sabavala, Saffronart’s projections for the two masters may prove wrong.

In the Contemporary Art section, artworks by Subodh Gupta and Bharti Kher are priced the highest. Slated to go under the hammer is Gupta’s work 2007 untitled oil painting and Kher’s installation “Indra’s Net Mirror 8”. The only other contemporary artist to be priced in the range of the Modernists is Jitish Kallat. His “Dawn Chorus – 24” is expected to rake in anything between Rs 37 lakhs (70,000 USD) and Rs 48 lakhs (90,000 USD).

Saffronart’s “Modern and Contemporary Indian Art” auction will be held online on June 19 and 20. Bid here.

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