Scribd Logo
Upload

Welcome to Scribd!

  • Newly Discovered Masterwork by V.S. Gaitonde Leads London Sales of Modern and Contemporary South Asian Art

    Uploaded by

    Gavel
    12 views1 page
    GAITONDE'S “PAINTING NO. 1” OF 1962 SELLS FOR £698,500 / $1,088,403 MORE THAN DOUBLE PRE-SALE ESTIMATE Sotheby's London achieved the highest price of the summer season for Modern and Contemporary South Asian Art yesterday, when a newly discovered work by Indian master Vasudeo S. Gaitonde sold for £698,500 / $1,088,403, more twice its pre-sale low estimate of £250,000-450,000. Works by modern masters such as M.F. Husain, S.H. Raza and Bhupen Khakhar also performed strongly, with exciting estimates attracting bidders from the US, Europe, the Far East and India. Coming to the market for the first time in 50 years, Gaitonde’s luminous Painting No.1, of 1962, was acquired in New York during the 1960s. Consigned to an attic for many years and discovered during a valuation by one of Sotheby’s New York specialists, the work’s owners were unaware that it was a painting by one of India’s most important artists. The painting is the first of a series of works Gaitonde produced in 1962. Painting No. 4 from the same series is currently in the permanent collections of the Museum of Modern Art in New York. Gaitonde will be the subject of an historic forthcoming solo retrospective at the Guggenheim Museum in New York which would be the first time a Modern Indian painter has featured in a major American institution. Works by M.F. Husain achieved some of the highest prices in the sale. Two outstanding paintings, Jhoola of 1961 and Untitled (three women with sitar) of 1979, sold for £242,500 and £188,500 respectively. Bhupen Khakhar’s Air, Steam and Speed soared above its pre-sale estimate of £100,000-150,000 to achieve £182,500. Yamini Mehta, Sotheby’s International Head of Indian and South Asian Art commented: “We were thrilled, but not altogether surprised that Gaitonde’s exquisitely subtle and incandescent Painting No. 1 was the pick of the week’s sales in London. There was intense competition for this important and exceptionally rare work. Following on from the hugely successful Amaya Collection in New York in March, we have demonstrated that there is a keen appetite amongst international collectors for works by Modern Masters which are new to the market and attractively priced. This was a truly global sale with bidding and underbidding from around the world - from India, the Far East, the US and Europe.”

    Original Title

    Newly Discovered Masterwork By V.S. Gaitonde Leads London Sales Of Modern And Contemporary South Asian Art

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    GAITONDE'S “PAINTING NO. 1” OF 1962 SELLS FOR £698,500 / $1,088,403 MORE THAN DOUBLE PRE-SALE ESTIMATE Sotheby's London achieved the highest price of the summer season for Modern and Contemporary South Asian Art yesterday, when a newly discovered work by Indian master Vasudeo S. Gaitonde sold for £698,500 / $1,088,403, more twice its pre-sale low estimate of £250,000-450,000. Works by modern masters such as M.F. Husain, S.H. Raza and Bhupen Khakhar also performed strongly, with exciting estimates attracting bidders from the US, Europe, the Far East and India. Coming to the market for the first time in 50 years, Gaitonde’s luminous Painting No.1, of 1962, was acquired in New York during the 1960s. Consigned to an attic for many years and discovered during a valuation by one of Sotheby’s New York specialists, the work’s owners were unaware that it was a painting by one of India’s most important artists. The painting is the first of a series of works Gaitonde produced in 1962. Painting No. 4 from the same series is currently in the permanent collections of the Museum of Modern Art in New York. Gaitonde will be the subject of an historic forthcoming solo retrospective at the Guggenheim Museum in New York which would be the first time a Modern Indian painter has featured in a major American institution. Works by M.F. Husain achieved some of the highest prices in the sale. Two outstanding paintings, Jhoola of 1961 and Untitled (three women with sitar) of 1979, sold for £242,500 and £188,500 respectively. Bhupen Khakhar’s Air, Steam and Speed soared above its pre-sale estimate of £100,000-150,000 to achieve £182,500. Yamini Mehta, Sotheby’s International Head of Indian and South Asian Art commented: “We were thrilled, but not altogether surprised that Gaitonde’s exquisitely subtle and incandescent Painting No. 1 was the pick of the week’s sales in London. There was intense competition for this important and exceptionally rare work. Following on from the hugely successful Amaya Collection in New York in March, we have demonstrated that there is a keen appetite amongst international collectors for works by Modern Masters which are new to the market and attractively priced. This was a truly global sale with bidding and underbidding from around the world - from India, the Far East, the US and Europe.”

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    12 views1 page

    Newly Discovered Masterwork by V.S. Gaitonde Leads London Sales of Modern and Contemporary South Asian Art

    Uploaded by

    Gavel
    GAITONDE'S “PAINTING NO. 1” OF 1962 SELLS FOR £698,500 / $1,088,403 MORE THAN DOUBLE PRE-SALE ESTIMATE Sotheby's London achieved the highest price of the summer season for Modern and Contemporary South Asian Art yesterday, when a newly discovered work by Indian master Vasudeo S. Gaitonde sold for £698,500 / $1,088,403, more twice its pre-sale low estimate of £250,000-450,000. Works by modern masters such as M.F. Husain, S.H. Raza and Bhupen Khakhar also performed strongly, with exciting estimates attracting bidders from the US, Europe, the Far East and India. Coming to the market for the first time in 50 years, Gaitonde’s luminous Painting No.1, of 1962, was acquired in New York during the 1960s. Consigned to an attic for many years and discovered during a valuation by one of Sotheby’s New York specialists, the work’s owners were unaware that it was a painting by one of India’s most important artists. The painting is the first of a series of works Gaitonde produced in 1962. Painting No. 4 from the same series is currently in the permanent collections of the Museum of Modern Art in New York. Gaitonde will be the subject of an historic forthcoming solo retrospective at the Guggenheim Museum in New York which would be the first time a Modern Indian painter has featured in a major American institution. Works by M.F. Husain achieved some of the highest prices in the sale. Two outstanding paintings, Jhoola of 1961 and Untitled (three women with sitar) of 1979, sold for £242,500 and £188,500 respectively. Bhupen Khakhar’s Air, Steam and Speed soared above its pre-sale estimate of £100,000-150,000 to achieve £182,500. Yamini Mehta, Sotheby’s International Head of Indian and South Asian Art commented: “We were thrilled, but not altogether surprised that Gaitonde’s exquisitely subtle and incandescent Painting No. 1 was the pick of the week’s sales in London. There was intense competition for this important and exceptionally rare work. Following on from the hugely successful Amaya Collection in New York in March, we have demonstrated that there is a keen appetite amongst international collectors for works by Modern Masters which are new to the market and attractively priced. This was a truly global sale with bidding and underbidding from around the world - from India, the Far East, the US and Europe.”

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Sale Results

    London, Bond St

    Sale L13500 Modern and Contemporary South Asian Art


    Grand Total
    Sold by Lot:
    Sold by
    Value:
    Lot

    Exch Rate:
    Lots Offered:
    Lots
    Sold/Unsold:

    2,522,375 GBP (3,930,365 USD)


    58.9%
    72.1%

    Price (GBP)

    Estimate (GBP)

    11 JUN
    13
    1.56
    90
    53 / 37

    Buyer

    34
    698,500 (1,088,403 USD) 250,000 - 450,000
    VS Gaitonde, Painting No. 1, 1962, oil on canvas,

    US Private Collector

    6
    242,500 (377,864 USD)
    MF Husain, Jhoola, 1961

    220,000 - 250,000

    US Private Collector

    50
    188,500 (293,721 USD)
    MF Husain,Untitled, 1979,

    140,000 - 180,000

    US Trade

    28
    182,500 (284,372 USD)
    100,000 - 150,000
    Bhupen Khakhar, Air, Steam and Speed, 1972

    Asian Private Collector

    3
    128,500 (200,229 USD)
    Husain, Elephants One, 1964,

    100,000 - 150,000

    Asian Private Collector

    40
    122,500 (190,880 USD)
    Syed Haider Raza, Untitled, 1980

    120,000 - 180,000

    Asian Private Collector

    25
    104,500 (162,832 USD)
    Jehangir Sabavala, Untitled, 1977,

    100,000 - 150,000

    Indian Private Collector

    35
    86,500 (134,784 USD)
    Syed Haider Raza, Black Moon, 1968

    50,000 - 70,000

    Indian Private Collector

    4
    86,500 (134,784 USD)
    Maqbool Fida Husain, Untitled, 1971

    35,000 - 50,000

    Indian Trade

    24
    80,500 (125,435 USD)
    100,000 - 150,000
    Krishen Khanna, Untitled (Blue Piet) 1978

    Specialist in Charge: Yamini Mehta

    European Private Collector

    Press Office Contact:Leyla Daybelge

    Please note all prices include buyer's premium. Sale session totals are net aggregate figures plus premiums. **Estimates do
    not include buyer's premium**
    SOTHEBY'S: REGISTERED AT THE ABOVE ADDRESS NO. 874867

    You might also like