Strong summer sales keep Indian art market buoyant

While we wait for the season in the subcontinent to take a benevolent turn, the auction circuit of Indian modern and contemporary art continues to throw interesting offerings to keep our wearied minds occupied with finer things of life. As the past few years have shown, the peak summer auctions have acquired a character of their own, which is not a shade less than the interest generated by Spring and Autumn auctions, held in March and September annually.

By the time this month ends, top names in the field of Indian art auctions would have sold some superlative works. While Pundole’s has already conducted ‘The Summer Fine Art Sale’, June 10-13, AstaGuru’s ‘Stroke & Structure’ was being conducted at the time of filing this copy. It was held June 20-21 online. Next in line is AstaGuru’s ‘Visionaries’ auction online, June 22-23, featuring works by young and emerging artists. It will soon be followed by Saffronart’s Summer Online Auction, June 26-27. Let us take a quick look at the highlights of all these auctions.

K Ramanujam on top at Pundole’s

The result of the Pundole’s auction must remain one of the most seminal highlights of all the auctions this year. The top lot of the auction in terms of the final price achieved was a 1966 ink and watercolour work on paper by K Ramanujam (1941-1973), the artist who lived a tragic and short life. He would have remained unsung and unknown but for a seminal show of his works that was hosted by Kiran Nadar Museum of Art in New Delhi in 2022. Titled ‘Into the Moonlight Parade’, the show brought focus on this artist who was mentored by KCS Paniker, the pioneer of the Madras Modern movement and principal of Madras’ Government College of Arts and Crafts. Allegedly suffering from schizophrenia, Ramanujam ended his tumultuous life at the age of 33. Ramanujam’s Untitled work at Pundole’s was estimated at Rs 2 lakh – Rs 3 lakh but fetched Rs 16 lakh, becoming the most expensive work sold at the auction.

The next best price was achieved by ‘Sati’ by Nandalal Bose (1882-1966), aquatint on paper heightened with gold, in quintessential Bengal School style. It was estimated at Rs 1 lakh – Rs 2 lakh but was eventually sold for Rs 15 lakh. As Bose is one of India’s nine National Treasure artists, this work is non-exportable.

A captivating work, ‘Still Life’, by B Prabha (1933-2001)—one of India’s most underrated artists of her generation—sold for Rs 12 lakh, against an estimate of Rs 2 lakh – Rs 3 lakh. This oil on canvas from 1961-1962, features a vase full of roses in expressionist style.

AstaGuru’s Focus on Contemporary Art

As I dealt with AstaGuru’s auction, ‘Stroke & Structure’, held June 20-21, in detail in a previous column, I would skip it here and reserve the analysis of its results for a later date.

Soon coming up, however, is another AstaGuru auction, ‘Visionaries’, to be held June 22-23. It brings focus on works by contemporary artists, which is a sort of relief from the auction circuit heavily loaded towards the masters, or artists of the older generation.

The work with the highest estimate at this auction is ‘Untitled’ by Bharti Kher, in her famous signature Bindi on painted board. It is estimated at Rs 80 lakh – Rs 1.20 crore. Anish Kapoor’s ‘Mountain’, an acrylic on fiberboard work is estimated at Rs 60 lakh – Rs 80 lakh. Nataraj Sharma’s oil on canvas, ‘The Stage’ is estimated at Rs 30 lakh – Rs 40 lakh. Valay Shende’s ‘Boy With Balloons’, made of colour coated stainless steel discs and colour coated MS base, is estimated at Rs 20 lakh – Rs 30 lakh.

Jagdish Chander’s ‘Untitled I’, an acrylic on canvas, which almost looks like a self-portrait, is estimated at Rs 5 lakh – Rs 6 lakh. Ranbir Singh Kaleka’s ‘Repose’, oil on linen canvas, featuring an abandoned train engine in an imaginary landscape, is estimated at Rs 6 lakh – Rs 8 lakh.

The line-up features a smorgasbord of contemporary art of India by some of the country’s top practitioners, which, apart from the above, include, TV Santhosh, Jitish Kallat, Vibha Galhotra, Vasundhara Tewari Broota, Ompal Sansanwal, A Balasubramaniam, Manish Nai, and Suhasini Kejriwal, among others.

Best of Masters at Saffronart’s Summer Online Auction

At Saffronart’s Summer Online Auction on June 26-27, its masters ruling the roost. The top lot is ‘Red Landscape’ by FN Souza (1924-2002), an acrylic on canvas from 1989. It is estimated at Rs 4 crore – Rs 6 crore. So far, 2024 has proved to be great for the founder of Progressive Artists’ Group, whose birth centenary is being observed this year.

The next most expensive work on offer is ‘Untitled (Village Scenes)’ by MF Husain (1915-2011). It is estimated at Rs 4.15 crore – Rs 5.81 crore. Gulam Mohammed Sheikh’s oil on canvas, ‘Talisman: Taveez’ is estimated at Rs 3 crore – Rs 5 crore. SH Raza’s beautiful European landscape in a bright red palette, ‘Untitled (Village)’, is estimated at Rs 3.32 crore – Rs 4.98 crore.

Other works estimated at more than Rs 1 crore at this auction include: Husain’s ‘Untitled’ at Rs 2.49 crore – Rs 4.15 crore; Jehangir Sabavala’s ‘Nocturnal Flight’, an oil on canvas from 1968, at Rs 2 crore – Rs 3 crore; Akbar Padamsee’s ‘Untitled’, an oil on canvas work from 2007, and Arpita Singh’s ‘Untitled’, an oil on canvas from 1999, at Rs 1.66 crore – Rs 2.49 crore each; Raza’s ‘Untitled’, an acrylic on canvas in gestural abstraction, from 1979, at Rs 1.49 crore – Rs 1.82 crore; Husain’s ‘Gaja Gamini’, an acrylic on canvas from 1999, at Rs 1.50 crore – Rs 1.80 crore; and Subodh Gupta’s atypical stainless steel sculpture, ‘Curry 2 (2)’, at Rs 1 crore – Rs 1.50 crore.

As the week unfolds, it would be interesting to watch how the contemporaries and the masters fare at two different upcoming auctions.

(The writer is a New Delhi-based senior journalist, columnist, and a commentator on art, books, market, society, and more)