Ahead of its first-ever India sale set to take place in Mumbai later this year, Yamini Mehta, senior director and international head of Indian and Southeast Asian Art at Sotheby’s, tells Medha Dutta that it is the perfect time to expand their presence in the country.
Why did Sotheby’s take so long to come to India?
Sotheby’s has a long history in India, and Indian clients have been important participants in our sales for many years. We have records of a Maharaja who bought Marie Antoinette’s diamond necklace at Sotheby’s all the way back in 1937 when he was visiting London for George VI’s Coronation. Now feels like the perfect time to expand our presence and reaffirm our commitment to the region. The art scene in India has never been more vibrant with new galleries and museums opening, and a proliferation of biennales and festivals. And, beyond India, South Asian Art is inviting ever more international attention—both at art fairs and at major museums.
Any particular reason why you chose Tyeb Mehta’s Durga for this sale? Do you think this will surpass his previous auction record?
Interest in Tyeb Mehta is at an all-time high—three of the four highest prices for the artist at auctions have been set since the beginning of last year. And our painting has all the ingredients collectors look for. Not only is this one of the most important works by one of the most important modern Indian painters, it is also completely fresh to the market. Commissioned directly from the artist in 1993, it remained tucked away in private collection ever since.
Your views on the domestic Indian art market.
There are promising signs of growth in the South Asian art market. Our recent sale results have demonstrated that there’s an appetite for us to expand our auctions in this field. Our total for Indian and South Asian sales has tripled in the past three years, and we’re meeting new buyers and enthusiasts all the time. An impressive 40 per cent of buyers in our modern and contemporary South Asian art sale in New York in April had never bought at Sotheby’s before. Across all of Sotheby’s global sales, the number of Indian participants has almost doubled in the past five years.
How has the Indian art collection scene evolved?
From my perspective at Sotheby’s, we’re now seeing a new generation of collectors engaging with art, who are looking to collect something different—such as new artists who we haven’t traditionally offered at auctions before, or artists who were underappreciated during their lifetime but whose value is being reappraised. Also, our clients from India are active across the main global categories: contemporary, impressionist and modern art, jewellery, and continental furniture.
What do you think has aided to the growth?
The market is still relatively small, compared to other sectors, but it’s growing (by 17 per cent last year according to Art Tactic, an art market research firm based in London). Increasing interest from Chinese collectors is particularly exciting, as is the online revolution. We can now connect with a global network of collectors, and anyone can bid on our sales from anywhere around the world. The number of Indian clients bidding online at Sotheby’s has increased nine-fold in the past five years.
What more is needed?
We need to keep up the good work to keep showcasing Indian art globally, to encourage an international dialogue around South Asian art, and continue to demonstrate its global relevance.
Would you be taking the sales to other Indian cities in the future?
We’ll see! Let’s enjoy our inaugural Mumbai sale first. However, we’ll definitely be exhibiting sale highlights from our Mumbai sale elsewhere in India.