Imperial Indian paan-daan breaks Sotheby's estimate

Sotheby's inaugural auction of 'Art of Imperial India' here has attracted bidding from around the globe to hit a whopping sales figure of Rs 182,598,304.
The star lot of the sale, an extremely rare 18th century enamelled and bejewelled gold tray and casket (paan-daan), sold for Rs 65,819,539 (662,500 pounds) - more than double its pre-sale estimate of 200,000-300,000 pounds.
Over 90 exquisite lots reflecting the broad artistic traditions of Imperial India came up for this first-ever sale by the world-famous auction house, encompassing almost 500 years of every kind of decorative art produced in the region.
"The auction captured the attention of collectors from around the world. Bidders from the west coast of America to South-east Asia gathered at Sotheby's to compete for the exquisite Indian works of art, with museum-quality pieces attracting bids from institutions and private collectors alike," said Benedict Carter, director and head of auction sales for Middle East at Sotheby's.

"Interest in Indian works of art has been growing in recent years and the strong prices achieved at yesterday's auction bear testament to the strength of this market and the increasing demand for desirable works relating to the Indian world," he added.
A group of 11 works relating to Mysore ruler Tipu Sultan were among the prized collection, selling for a combined amount of Rs 38,689,470 (389,425 pounds).

Tipu's sword, fitted with an English blade, was bought for Rs 9,785,999 or (98,500 pounds) by a mystery bidder on the phone.
An 11-bore silver-mounted flintlock duck gun from the personal armoury of the warrior king fetched 88,900 pounds and a presentation sword taken as booty at the Siege of Seringapatam, of Eastern European manufacture, sold for the same amount as well.

Among some of the other highlights included a gem-set gold pocket watch with painted cover depicting Maharaja Mahendra Singh of Patiala, which went under the hammer for 62,500 pounds and a Mughal jade-hilted dagger (khanjar) and scabbard, which fetched double the estimate amount of 20,000 pounds.