An auction shot with Untitled by Vasudeo S. Gaitonde (1924-2001) being sold.
Pre-sale estimates were more than doubled at Christie’s first auction in India at the Taj Mahal Palace in Mumbai this evening. The sale totalled 96.5 million rupees or $15.4 million US dollars and 98 per cent of lots sold. The top lot, an untitled work by Vasudeo S. Gaitonde, made $3.7 million and was bought by a private US collector. The auction house said that the sale marks an historic moment for Christie’s, building on a 20-year history in India, and a decade of global market leadership in Modern Indian Art through sales in New York and London. Buyers were from India, across Asia, the US and Europe.
“It has been a true privilege to be in India where we have been honoured by the warm welcome. The response to our sale and events has been extraordinary,” said Steven Murphy, Christie’s ceo. “Holding an auction in India for the first time is the realization of a long held dream for Christie’s. We are delighted to have welcomed several thousand members of the public and clients over the course of the month. Our mission remains to serve our clients with exceptional works of art and to serve artists and all those passionate about art by convening them with our global network. We hope to continue to share the vibrant creativity we have experienced in Mumbai with a global audience as we grow our operations here in India.”