mardi 29 juin 2010

Sotheby's Contemporary Art Auction

Source Art Daily
Bharti Kher’s celebrated sculpture The Skin Speaks a Language not its Own established not only a record for the artist at auction but also a new record for any work by a Contemporary female Indian artist at auction, when it sold for the remarkable sum of £993,250 ($1,493,947 /€1,211,273) (est. £700,000-1,000,000). The life-sized elephant is one of the most iconic and most talked-about works of art by a contemporary Indian artist and the masterpiece of the leading female artist of her generation.
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lundi 28 juin 2010

Five Indian art galleries at Art Basel

Source The Economic Times
The inclusion of Indian galleries at Art Basel this year was preceded by a long overdue trip to India last year by Art Basel’s new directors and the selection committee consisting of leading Western galleries.
Obviously Marc Spiegler and Annette Schönholzer, the new co-directors of Art Basel since the 39th edition, appreciate both the economic and symbolic significance of including galleries from India. However, it’s also true that Indian galleries have in recent years undergone a major upgrade in quality and are now ready to be tested tête-à-tête with the best of the West.
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vendredi 25 juin 2010

Could China Become A Major Market For Indian Art?

Source Jing Daily
However, another aspect to this that is particularly interesting is that it’s not strictly limited to top historical Western artists like Warhol and Picasso. At recent auctions in Hong Kong and art exhibitions in Beijing, we’re seeing more pieces by artists from neighboring countries like India piquing the interest of Chinese collectors and art lovers.
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jeudi 24 juin 2010

Art’s everywoman

Source Livemint by Sanjukta Sharma
A lot of contemporary art follows directly or indirectly from Western trends and Western technical and digital ingenuity. Their universal appeal is often a matter of technique rather than form or subject. In Reddy’s work, it is easy to spot the provincial in the universal, and yet the universality is what you react to, on first and later viewings—Reddy recently told me, over the phone from his Visakhapatnam studio, that it was “a kind of an amalgam of Egyptian and Mexican figures, Nigerian bronzes, real-life women in rural Andhra Pradesh and Warholian pop sensibility”. The faces could be as close to Kalighat paintings as to African folk art.
The Indianness of his works attracted French collector and curator Hervé Perdriolle, who visited Reddy many times. “The heads are iconic because of their eloquent simplicity,” Perdriolle says. “As with Subodh Gupta’s Very Hungry God, he has found with this the universal in the local.”
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lundi 21 juin 2010

Art and Design to Raise Funds for Literacy in London

Source Artdaily
PRATHAM is one of the world’s leading and most respected non-profit organisations. It is known for its enduring literacy movement in India and for achieving annual donations of more than 2 million pounds to help provide quality education to underprivileged children. With six international offices chaired by the movers and shakers of India's financial world and several awards including the CNN IBN Indian of the Year in 2009, the charity has changed the lives of 34 million children in 22 of India’s 28 states.
PRATHAM UK, the charity's London headquarters, is proud to announce the launch of ARTiculate, a new fundraising platform with the sole mission of transforming the lives and learning conditions of a further 11 million children by the beginning of 2011. More than six hundred guests will congregate from all parts of the globe at the Old Billingsgate on 11 September 2010 to celebrate the launch of this new venture and support the charity’s unwavering efforts in India.
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vendredi 18 juin 2010

Gupta Painting Fetches Double Estimate as Indian Art Revives

Source Bloomberg by Arijit Ghosh
A Subodh Gupta oil painting showing three bicycle-riding doodhwalas, or milk sellers, sold for more than double its estimate at an online auction as demand revived for Indian artists.
The untitled work by Gupta, 46, in the semi-photorealist technique, had a presale high estimate of $240,000 and sold for $494,500 at the auction by Saffronart yesterday. A work by Syed Haider Raza titled “La Provence Noire,” fetched $746,111. Raza, 88, graduated from the Ecole Nationale des Beaux-Arts in Paris.
Bidders sought works by painters such as Raza and Maqbool Fida Husain, India’s best-known artist, as economic recovery revives demand for the country’s art. Asia’s largest economy after Japan and China may grow at between 9 percent and 10 percent annually in the coming years, Chakravarthy Rangarajan, chairman of the Prime Minister’s Economic Advisory Council, said yesterday.
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jeudi 17 juin 2010

Tagore Works Lead Sotheby's South Asian Art Sale to $8.2 Million

Source Art Info by Louise Chen
Indian Nobel laureate Rabindranath Tagore headlined the Sotheby's South Asian Art Sale in London last night, not with his famous manuscripts, but with 12 paintings that fetched £1.6 million ($2.37 million), massively exceeding their £250,000 ($370,000) estimate. The evening sale, which also featured works by prominent South Asian artists Raza, Souza, and Chandra, managed a 78 percent sell-through rate and brought in £5.5 million ($8.2 million) for the house. Other highlights of the auction included Haider Raza’s Rajasthan, which went for £527,250 ($780,000). Last week, Christie’s London sold Raza’s Saurashtra for an artist-record $3.4 million.
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mercredi 16 juin 2010

Indian Art Sales Report Predicts Increased Demand

Source Buzzine Bollywood by Simran Mody
A section of the report lists gallery ratings and analyzes the trends, spotlights on infrastructure, art banking perspective, conservation, and provides writing space to connoisseurs.
“Many fundamental changes are expected within the infrastructure of the Indian art market in the coming months as the responsibility grows about becoming a major player and market at the global level,” Tuli explained in his statements to the press. “China has become the world’s third largest market. India is not yet among the Top 20 at present.”
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Tagore artwork fetches record sums at auction

Source India Today by Archana Khare
The most keenly watched auction of Indian art this season, of 12 paintings by India's first Nobel laureate Rabindranath Tagore, ended in London on Tuesday on a high note.
The auction house Sotheby's sold the set of paintings at a sum of £ 1.6 million (approximately Rs 11 crore) against an estimated pre- auction figure of £ 250,000 (approx. Rs 1.7 crore).
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The Bidding Business

Source The New York Observer by Sallie Brady
It was a decade ago when Saffronart, an online auction house specializing in modern and contemporary Indian art, held its first sale. "We sold $125,000 in art and we thought that was amazing," said the house's co-founder Minal Vazirani, 38. Six years later, when just one online auction made $17 million, the Harvard Business School knew they had a subject for a case study. Today, Saffronart has an office in the Fuller Building on 57th Street and galleries in Mumbai and London, and runs half-a-dozen online auctions annually, selling not just art but vintage and contemporary Indian jewelry and has recently added real estate. They also have competition: Both Sotheby's and Christie's accelerated the pace of their Asian sales after the region's economy, and Saffronart took off.
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dimanche 13 juin 2010

Raza's painting Saurashtra sold for £2.4m ($3.5m) in London on Thursday.

Source BBC News
Officials at Christie's told the BBC that the large-scale painting was produced during a key period of Raza's career. He painted the work in 1983 as a "homage to his homeland". Christie's say that the painting - an acrylic on canvas - was bought by an Indian museum for well above the estimated price. It was sold by a private French collector who acquired it directly from the artist. The painting was one of several pictures by South Asian artists - including Francis Newton Souza and Tyeb Mehta - that were sold for millions of pounds.
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Catch Raza’s record work in Noida

Source The Telegraph by Amit Roy
Syed Hyder Raza’s colourful and vibrant painting, Saurashtra, bought for a record £2,393,250 at a Christie’s auction in London yesterday will be open for viewing at a private museum in Noida by ordinary members of the public, the new owner has promised.
“I am delighted and would love to see people come and see the painting at my museum,” Kiran Nadar, wife of Shiv Nadar, chairman and chief strategy officer of HCL Technologies, said in a statement. “The size and quality of this painting makes it a very sentinel work.”
The 200cmx200cm work which Raza painted in 1983 was acquired by a collector in France where the 87-year-old artist lives though he has always said he carries India within him.
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L'art, valeur refuge en temps de crise

Source L'Express par Annick Colonna-Césari
"Le marché de l'art est aujourd'hui mondialisé, explique la galeriste parisienne Nathalie Obadia, et tous les pays ne sont pas touchés de la même façon par la crise." Les nouveaux acheteurs, russes, asiatiques, ou moyen-orientaux, peu soucieux du lendemain, contribuent largement à faire monter les enchères.
Les mentalités évoluent également. "Aujourd'hui, l'art, y compris contemporain, a sa place dans un portefeuille de valeurs, au même titre que l'immobilier ou la Bourse", poursuit Nathalie Obadia. Dans une époque économique chaotique, un tableau de Warhol ou de Rothko apparaît comme un meilleur placement que les actions.
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jeudi 10 juin 2010

Indian Artist Souza’s Work Raises $7.9 Million, Double Estimate

Source Bloomberg By Scott Reyburn
A collection of works by India’s priciest modern artist, Francis Newton Souza, sold last night for more than double its estimate as dealers saw recovery in the country’s art market.
The 152 lots fetched 5.4 million pounds ($7.9 million) with fees, exceeding a presale upper forecast of 2.3 million pounds, based on hammer prices, said London-based auction house Christie’s International.
The paintings, drawings, prints and sketch books were offered directly from Souza’s estate. The co-founder of India’s postwar Progressive Artists Group died in Mumbai in 2002.
Auction prices for modern and contemporary Indian art have risen -- and fallen -- spectacularly in recent years. Values of modern Indian works fell during the financial crisis, though not as much as their contemporary counterparts. Prices for contemporary works increased seven-fold between 2000 and 2008, according to the French-based database Artprice.

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mercredi 9 juin 2010

It's record time in London - again!

Source Business Standard by Kishore Singh
The price estimates for the June auctions are setting the rumour mills buzzing over the revival of the Indian art souk
Two years ago, this month, a painting by F N Souza sold at Christie’s for Rs 10.5 crore. And though prices for masters have since “corrected” themselves, and for contemporaries pretty much collapsed, June 2010 could end up setting a new benchmark for both. Take S H Raza whose Saurashtra has a scorching estimate between Rs 8.8 crore and Rs 12.27 crore at the Christie’s auction in London on June 10 — so extraordinarily valued that it could see prices for other works by Raza commensurately harden. Already, Raza is probably out-selling M F Husain in both prices and volume, and any increase in his prices will see the bar rise for his fellow progressives in particular but also the moderns in general.
But the big surprise could be in the rising eminence of the contemporaries with Bharti Kher’s quite extraordinary The Skin Speaks a Language Not Its Own coming up for auction at Sotheby’s Contemporary Art Evening Auction on June 28 in London. Estimated at a low of Rs 5.4 crore and a high of Rs 8.1 crore, this massive work which shows a (dying? dead?) elephant entirely covered with her trademark bindis, which was first exhibited in London in 2006, was snatched up by collector Frank Cohen, while art impresario and promoter Charles Saatchi went on to showcase her work at his Saatchi Galleries on several occasions. If Kher is able to best, or even arrive at the estimated value, she will single-handedly inject an adrenaline shot into the market for her peers, not least of them her husband Subodh Gupta who once ruled over India’s contemporary scene. Even though Gupta remains popular, his prices have tanked — consider his Chimta installation at Christie’s sale on June 10 which has been modestly estimated between Rs 1.3 crore and Rs 2 crore.
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lundi 7 juin 2010

Creating a legacy

Source Deccan Herald
For a man who grew up knowing nothing about art, Rajiv Savara has amassed quite a collection. In a decade, Savara, a first-generation entrepreneur, and his wife, Roohi, have built a museum-worthy selection of Indian works spanning the late-19th to mid-20th centuries.
Housed in a gated residence in New Delhi that overlooks the Idgah, a 600-year-old monument, the Roohi and Rajiv Savara Family Collection, as they call it, can be distinguished by its focus on specific artists who the Savaras say they believe will, “50 years hence, define pre-Modern and Modern Indian art.” By this they refer to the periods spanning pre-independent India from 1890 to 1947 and after independence, from 1947 to 1985.
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