Professional auction House AstaGuru in Mumbai auctioned works of Indian master artists under its 'Modern Indian Art Sale'. With 40 artworks on sale and the estimates for each crossing the expected price range they were put up for, the Indian market for art is visibly evolving and maturing.
An untitled painting by artist V.S. Gaitonde got sold for ₹ 9.6 crore, and Ganesh Pyne's seminal 'Raktakarabi' (1957) went under the hammer for ₹ 2.4 crore. This reflects an increased and an undying demand for works of the most talented Indian master artists.
While Gaitonde's work was estimated to be sold for anything between ₹ 8-10 crore, Pyne's 'Raktakarabi', which is based on a similarly titled play by Rabindranath Tagore, was estimated to go under ₹60 lakh.
Ganesh Pyne's 'Raktakarabi' (1957)
The auction also featured paintings and artwork by masters like M.F. Husain, Akbar Padamsee, Ram Kumar, F.N. Souza, Nandalal Bose, Bikash Bhattacharjee, Ganesh Pyne and J. Swaminathan.
A painting by M.F. Husain
Prabhakar Barwe's 1990 work titled 'Canvas Bag' got sold for more than twice the estimate for it, which was anything around ₹ 82 lakh.
A national art treasure, 'Arjuna' by Nandalal Bose sold for around ₹
72 lakh.
Nandalal Bose's 'Arjuna'
Another work which did very well was the Doll series by Bikash Bhattacharjee. The painting is from one of the artist's most important series and has been a turning point for him as it helped him garner a nation wide acclaim.
Other interesting developments include a rare work by Swaminathan from his tribal series which was sold at ₹ 1,48,84,118 and Rameshwar Broota's work from his 'Man' series which was auctioned for ₹ 1,35,00,333.
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