Tuesday, February 24, 2009

Osian's auction nets Rs 3.38 crores

Source: samaylive.com


New Delhi, Feb 24 : Noted auctioneer Osian's has clocked Rs 3.38 crore in sales at its second auction this year with contemporary artist Atul Dodiya's work dedicated to former Team India captain Rahul Dravid fetching the highest bid of Rs 57.6 lakhs.

A total of 25 out of 50 selected lots that went under the hammer were sold with a registered average lot price at Rs 13.5 lakhs at the auction held here on February 21. Osian's first auction was the ABC series last month in Jaipur.

While Dodiya's "Wall" fetched over Rs 57 lakhs, modern masters such as F N Souza, V S Gaitonde and Bikash Bhattacharjee also figured among the top five sellers in results released by the auction house Another highlight of the auction was K K Hebbar's portrait of Indira Gandhi fetching Rs 19.2 lakh.

"Figure," a brass sculpture by Meera Mukherjee fetched Rs 34.8 lakhs, while works by leading artists Chittaprosad, Manu Parekh, Sajal Roy, Amalnath Chakladar were also sold.

Both Mukherjee and Himmat Shah's "Untitled" works were auctioned at prices above lower estimates, which the auction house said proved that "art of the highest historical significance holds its value far better than most other financial assets. " Nevile Tuli, Founder-Chairman, said, "The art market is suffering like all other assets. This is thus the time to build when everyone has gone into hibernation."
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