Presenting a concurrent selling exhibition featuring contemporary art from South and West Asia, Sotheby’s is commemorating the 25th anniversary of Modern and Contemporary South Asian Art sales. Manjari Sihare-Sutin, Head of Sale, Modern and Contemporary South Asian Art, Sotheby’s, New York, believes it is largely the Indian diaspora that is pushing the rise. “The feedback has been overwhelmingly positive. Sotheby’s was the first international auction house to support this market, and our collectors took immediate notice. For them, the art represents a piece of their heritage.” Needless to say, works by Indian masters remain popular.
The artists to be featured include Raja Ravi Varma, Vasudeo S Gaitonde, Nasreen Mohamedi, Bhupen Khakhar, MF Husain, Amarnath Sehgal, SH Raza and others. Manjari says that as much as 95 per cent of the works come from private collection, and as the market continues to strengthen, more Indian masters will achieve strong results at auctions. Also, there will come about a reassessment of artists who have been historically overlooked. Elaborating on the steady growth of the auction house, she says, “Since our first sale in June 1995 of contemporary Indian paintings, which achieved a very respectable $1.2 million, we have seen steady growth. In 2019, we sold Bhupen Khakhar’s ‘Two Men in Benares’ for $3.2 million, an auction record for the artist and the most valuable work we’ve sold in the category.
It goes to show how far the market has come.” Last year, the auction house saw a 35 per cent increase in worldwide sales. The year also saw the highest number of participants in the Modern and Contemporary South Asian Art sales in a decade, with 74 per cent more bidders and 50 per cent more buyers than three years ago. Does the focus on Indian masters help mid-level Indian artists, too? “We’ve continually seen an appetite from collectors for a wider range of artists. Our March 16 auction is a prime example of how we are expanding the concept of our sales beyond the established masters.
The sale features a significant selection of sculptures led by modernists Amarnath Sehgal and Adi Davierwalla, a curated selection on ‘neo-tantra’, including works by Biren De, GR Santosh, as well as a diverse selection of works from the Bengal School of Art, and modern and contemporary art from Pakistan.” But it is not always easy to acquire the artworks. Twenty-five years of networking and nurturing have gone into establishing the market. In fact, this year the auction house is excited about India’s foremost abstractionist Nasreen Mohamedi’s painting. Only 10 paintings by the artist have ever come to market previously.
While hunting for hidden treasures, Sotheby’s is also embracing technology with live streaming and placing bids in real-time. “Across departments, we have been very successful in integrating new technology into our sales and collectors have reacted very favourably,” Manjari says. In fact, there has been a 100 per cent growth in the total value of works purchased online from 2016-2019. Also, since 30 percent of the bidders are under 40, online sales will continue to grow, Manjari says.
While hunting for hidden treasures, Sotheby’s is embracing technology with live streaming and placing bids in real-time