Auction Results Saffronart's 15th Anniversary Evening

Auction Results Saffronart
Highlights

Saffronart hosted its momentous Evening Sale of Modern & Contemporary artworks at The Oberoi in New Delhi on Thursday, 10 September 2015.

Saffronart hosted its momentous Evening Sale of Modern & Contemporary artworks at The Oberoi in New Delhi on Thursday, 10 September 2015.

The Live auction which attracted art patrons, collectors, dealers and connoisseurs featured 75 lots of some of the most eminent Indian artists such as FN Souza, Tyeb Mehta, MF Husain, SH Raza, Jehangir Sabavala, Bharti Kher, Subodh Gupta, and Jagannath Panda amongst other names, many coming from illustrious private collections.

The auction marked Saffronart’s 15th anniversary as a global market leader in Indian art. Since 2000, the auction house has initiated a paradigm shift in the Indian art market, having sold over 20,000 works of art and played an integral role in the art market’s growth.
Hugo Weihe, CEO said, “I am thrilled with the results of my first auction with Saffronart. The spirit in the room was exhilarating. The sale has been acknowledged as one of the most thoughtfully curated and the overall result and sold through rate was a resounding confirmation.”

The top lot of the evening F.N.Souza’s Man and Woman Laughing (1957) sold for Rs. 16,84,00,000 (US$ 2,590,769) breaking all previous records for the artist at auction. Formerly from the collection of Harold Kovner, Souza’s most important patron, it belongs to a particularly vital period of the artist’s career. Kovner discovered Souza’s work in 1956 and financially supported the artist to promote his works. The duration of this patronage, which lasted four years, was instrumental in allowing Souza more freedom to paint, and achieve greater creative success than ever before.
Tyeb Mehta’s Standing Figure (1982) sold for Rs. 11,51,25,000 (US$ 1,771,154). The Standing Figure bears a clarity of design and composition that is a departure from Mehta’s falling figures and trussed bulls. Its importance is heightened by its provenance: The Davida and Chester Herwitz Collection. The Herwitzes amassed one of the world's largest collections of Modern Indian art and helped place it on an international pedestal.
Among the contemporaries, G Ravinder Reddy’s nine foot-tall Devi (1998) achieved a bid of Rs. 2,70,00,000 (US$ 415,385). It was previously exhibited at the Arthur M. Sackler Museum in Washington DC, and was exhibited at other international institutions between 1998 and 2008. The monumental head is a striking blend of tradition and kitsch, and one of the largest he ever created.
The Live auction accepted bids in the room, on the phone, and online with buyers participating from around the world. The auction was conducted by Saffronart co-founder Dinesh Vazirani along with Hugo Weihe, CEO of Saffronart.
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