Gaitonde, Raja Ravi Varma, Akbar Padamsee high value art belonging to Nirav Modi to go under the hammer today
A previously unseen untitled work by modernist V S Gaitonde fetched Rs 9.52 crores, doubling its lower estimate at Saffronart's annual Summer Online Auction recently.
The 1958 vivid red work, created during the crucial period when the artist began his journey into abstraction with architectural forms, was part of the collection of renowned art patrons and collectors Urmila and the late Gunvant Mangaldas.
Another work by Gaitonde -- an early figurative work from 1953 -- was also featured in the auction. It sold for Rs 74.5 lakhs surpassing its higher estimate.
F N Souza's tempestuous Untitled (Hampstead), 1964, never before seen in public, almost doubled its higher estimate, selling for Rs 4.55 crores.
The oil and polyvinyl acetate painting, likely a depiction of London's Hampstead Village, demonstrates Souza's fluid and skilful handling of line techniques, and represents a highly successful and innovative time in the artist's career.
Another untitled landscape by Souza, created in 1997 using his trademark chemical alteration process, also crossed its higher estimate to sell for Rs 19.2 lakhs.
"Both the top lots by the distinguished modern artists Gaitonde and Souza sold for double their estimates. These works proved even more compelling as they have never been seen before, and come from collectors that were deeply involved in the formative years of Indian art, or have an interesting history of ownership.
"In addition to the strong aesthetics that both these works display, it was this element of discovery and intrigue that attracted collectors," Minal Vazirani, Saffronart's Co-Founder and President, said.
Among the top five lots were S H Raza's "Bindu" (1992) that sold for Rs 1.37 crore, Bikash Bhattacharjee's verdant untitled landscape from 1983 that fetched Rs 1.03 crore, and Akbar Padamsee's mesmerising 1961 abstract painting titled "Classic Metascape" that sold for Rs 99.36 lakhs.
World records were achieved for artists Huma Mulji, whose installation "Arabian Delight" (2008) sold for Rs 19.9 lakhs, and M Sivanesan, whose untitled painting from 1984 sold for Rs 4.6 lakhs.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)