Saffronart March sale sees strong demand for modernists

With an impressive sale of 80 per cent lots, the recently held Saffronart evening sale achieved Rs 27.6 crores, witnessing an overwhelming demand for Indian modernists.

Tyeb Mehta's 'Falling Bird' was among the 52 out of 65 artworks that sold for prices surpassing their estimated values.

The work, estimated at Rs 5 crores, sold for Rs 6.96 crores, at the auction held on March 13 here.

Jehangir Sabavala's 1968 celestial masterpiece, 'The Star that Beckons', was initially estimated at Rs 2.5 3.5 crores and sold for Rs 3.84 crores.

The painting is said to encapsulate the subtlety and sensitivity of the artist at his best.

Also among the top lots was S H Raza's 'Rajasthan IV' (1961), an important painting from an earlier phase of the artist's life.

The work surpassed its estimate of Rs 1.5 2 crores, and sold for Rs 2.64 crores.

The auction also featured works across the spectrum of modern art.

A landscape by Sadanand Bakre, initially estimated at Rs 79 lakhs, sold for over two times its lower estimate at Rs 16.8 lakhs.

Sir Jacob Epstein's sculpture of Rabindranath Tagore, estimated at Rs 810 lakhs, doubled its upper estimate, selling for Rs 21.6 lakhs.

K H Ara's 'Yellow Roses', estimated at Rs 79 lakhs, doubled its lower estimate and sold for Rs 14.4 lakhs.

Saffronart CEO Hugo Weihe said the auction had started attracting strong interest even before the bidding day, with 50 per cent lots having received advance bids.

"Works by leading artists from different periods of Indian modernism offered welcome surprises, with works by Sadanand Bakre, A A Raiba, A A Almelkar and K H Ara being well-received," he said.