Indian art now a top draw at Christie's

High-value Indian art has boosted sales and profits of Christie's to £1.8 billion in the first six months of 2008, the reputed UK-based auction house said today.

Christie's announced that Indian art was among the key categories that had produced record sales during the period.

In June, the auction of South Asian Modern, Contemporary Art realised £5.4 million, the highest total for the category in London.

The auction saw 12 records broken with Francis Newton Souza's Birth (1955) selling for £1.3 million, setting a record price for an Indian modern and contemporary work of art sold at auction, and becoming the most expensive lot ever sold at Christie's South Kensington.

"Christie's robust results for the first half of 2008 reflect the ongoing strength of the international art market," said Edward Dolman, chief executive officer, Christie's International.

"Collectors across the globe have remained active and confident, despite more uncertain economic conditions in some regions. Christie's extensive international network has introduced an increasing number of buyers to the international art market from growth markets, including Russia and the CIS states, the Middle East, India and China," he said.