A Gandharan piece sold for INR 48CR sets a world auction record at the Christies Asian Art Week

This has been the strongest season for Indian and Southeast Asian art online

author_img IANS Published :  01st October 2020 01:49 PM   |   Published :   |  01st October 2020 01:49 PM
The gray schist triad of Buddha Shakyamuni that sold for $6,630,000. Picture courtesy: christies.com

The gray schist triad of Buddha Shakyamuni that sold for $6,630,000. Picture courtesy: christies.com

Christies Asian Art Week New York witnessed a surge in demand for Indian and South East Asian Art during the eight live online auctions that started in mid-September this year. 

The top lot of the week was a rare and magnificent gray schist triad of Buddha Shakyamuni that sold for $6,630,000 (Rs 48,72,07,539 approximately) and set the world auction record for a Gandharan work of art. Other notable results included a woodblock print by Katsushika Hokusai, "The Great Wave," which achieved $1,110,000 and set the record for the print by the artist; a rare and magnificent bronze figure of Shiva Tripuravijaya, South India, circa 1050, that sold for $4,350,000 and established the record for a South Indian sculpture; an important painting by Tyeb Mehta, Untitled from 1974 that sold for $1,110,000; and a Northern Qi grey limestone figure of Buddha that realised $2,550,000.

Deepanjana Klein, International Head of Classical and Contemporary Indian and South Asian Art, said: "This season was the strongest in over a decade for Indian and Southeast Asian art. We are incredibly proud that the week 's top three prices were for classical Indian and Gandharan works of art with records set for a South Indian sculpture with the bronze figure of Shiva from the Alsdorf collection selling for $4.3m and a record for a Gandharan work of art set by the magnificent schist relief that sold for $6.6m.

"Additionally, the modern and contemporary sales collectively set eight new artist records. These exceptional results and participation demonstrate the resilience of the market and growing breadth and depth of the collector base in the field. The success of this week of sales is owed to the strength of our global team of specialists."

Tina Zonars, Co-Chairman of Asian Art, Christie's, said: "The strong sell through rates and prices realised not only show the robustness of the market, but also our expertise in curating sales that meet current market demands across all collecting categories of Asian art. Exceptional prices were achieved throughout the week for Chinese paintings, stone sculpture, bronzes, Qing imperial porcelains, Japanese and Korean works of art, and classical Chinese furniture, demonstrating the expansion of the market and the depth of our buying audience. The overall success of the week is a testament to Christie's teamwork and innovation especially during this unprecedented time."

The auction achieved a total of $82,830,875 (approximately Rs 6,08,60,39,956) with 90 percent by value, 84 percent sold by lot, and 175 percent hammer above low estimate across the eight live auctions. It saw a global participation with bidders from 41 countries across five continents.

Additionally, unique visitors from over 110 countries visited the sale pages leading into the week. During the week 13 records were achieved and 13 lots exceeded $1m across all geographies of Asian art. Online sales continue through October 1.