Aiming for new records at Saffronart’s summer online auction

Last year, two of the most valuable works of modern Indian art were sold in two different auctions. These were an Untitled work by VS Gaitonde that fetched Rs 42 crore at a Pundole’s auction in February 2022, and a work by Tyeb Mehta — Untitled (Bull on Rickshaw) — that sold for Rs 41.97 crore at a Saffronart auction in April 2022.

Whenever such new records are set, many figures hitherto incredible start appearing standard and market watchers begin expecting more bewildering figures and bigger records. But, is it realistically possible? It has been more than a year and those two records have not been matched so far. That is also slightly unlikely to happen very soon, simply because fantastical records are meant to last a while, like most centuries in One Day International cricket by Sachin Tendulkar, a record that is not likely to be surpassed easily. Even when it does, most probably by Virat Kohli, it would be a rare feat.

Tyeb Mehta’s Monochrome Bulls

Coming back to Indian modern art, an upcoming auction features one work by Tyeb Mehta (1925-2009) whose pre-auction estimate is that rare number, which if met (or surpassed) would place it in the bracket of top five works of Indian art by price. That’s a late career canvas by Mehta, titled Bulls (2005-2007), estimated at Rs 28.70 crore – Rs 36.90 crore ($3,500,000 - $4,500,000) at Saffronart’s Summer Online Auction of modern and contemporary South Asian art, to be held on June 28-29.

In trademark Tyeb Mehta stylization, the monochrome work (78 x 120 in.) featuring a pair of bulls stands out in the artist’s well-known oeuvre for its lack of colour. Both the bulls are in black, which is rare, if not altogether unknown, in Mehta’s repertoire — some of his most well-known works featuring bulls (also record breaking one) have a multi-colour palette. It stands out for the brilliant use of the device of deconstruction that the artist so famously employed in his works, often with a diagonal slash adding perspective to the picture. The dismembered heads, torsos and hind limbs of the two bulls do not take away any depth from the picture, nor do they add any gruesomeness to it. Given the rarity of the work, it will not be a surprise if the pre-auction estimate is actually surpassed at the auction.

The top estimates

While the Tyeb Mehta work will, indeed, generate interest for obvious reasons, there are other superlative works on offer at this auction, featuring, as expected, a mix of the usual sought-after signatures and some lesser-known yet deserving masters. The other four in the top five are:

The next best estimate belongs to Untitled (Two Figures) by Ram Kumar (1924-2018), a riveting work by the master from a seminal year of his career, 1960, when he would visit Benaras with his friend MF Husain, and soon experience a complete turnaround in his artistic practice. He would abjure figuration in his work as a result of his Benaras experience and turn permanently towards abstraction. In that sense, this is an important work by the artist and may exceed its pre-auction estimate of Rs 2.46 crore – Rs 4.10 crore ($300,000 – $500,000).

Bindu by SH Raza (1922-2016), made in 1990, is the third most expensive canvas on offer, which too, is a superlative work from the artist’s long career. As is evident from the title, it belongs to the most famous series by the artist who lived in Paris for sixty years, and where he achieved his artistic apogee with his exploration of ancient Indian philosophy through his art. Raza made several canvases exploring bindu or dot — interpreted as shunyata or nothingness of Indian philosophy and the offer of one such work on the market is a plum opportunity indeed. It is estimated at Rs 1.64 crore – Rs 2.46 crore ($200,000 – $300,000).

At number four, in terms of pre-auction estimate is a work by Ganesh Pyne (1937-2013), though not among the usual suspects but a highly deserving master whose works have become hot on the market since last year. Sleep, a 2005 tempera on canvas, is an atypical work by Pyne, who translated the pathos of life on the streets on to his canvases through great sensitivity. It is estimated between Rs 1.5 crore and Rs 2 crore ($182,930 – $ 243, 905).

No list of top Indian artworks can ever be complete without a work by the country’s most maverick modern master, MF Husain (1913-2011). A stunning Untitled work from Husain’s well-known series on Mother Teresa is on offer at the auction. Made in 1989, years after his first meeting with the Nobel Prize-winning humanitarian figure, this work along with others from the series, is known for his faceless depiction of Mother Teresa, who is instantly identifiable with her blue-bordered saree. It is estimated at Rs 1 crore – Rs 1.5 crore ($121,955 – $182,930).

Tribal and other South Asian art

The rest of the auction is structured on the same, safe lines as most auctions of Indian and South Asian art are. The tribal art component comprises only four works, all by the best known Indian name in the genre, Jangarh Singh Shyam (1962-2001). If the auction circuit has to make any substantial contribution to the expansion of the tribal art market, it will have to feature more names and a wider variety of the broad genre of tribal art in the country.

As for South Asian representation, there are works by four non-Indian artists on offer. These include Bangladeshi-born British artist Rana Begum, Melbourne-based Pakistani artist Nusra Latif Qureshi, and other two Pakistani artists Ali Kazim and Adeela Suleman.

Back to Indian art, there are some interesting takeaways for those wishing to snag a great signature at relatively affordable prices. There are enticing drawings by FN Souza and Amrita Sher-Gil and also some smaller works by the likes of MF Husain. SH Raza and Sadananda Bakre. There are three VS Gaitonde works as well, all estimated at under Rs 1 crore, which makes them highly alluring, considering that the master rules the Indian art market at figures unachievable for many for a long time to come.

As collectors browse through this sumptuous catalogue on offer, it would be interesting to watch the new records that this auction will set.