Modern Indian painter Jehangir Sabavala set a new world record with his “The Casuarina Line I” selling at Rs 1.7 crores at the Saffronart’s summer online auction.
The Mumbai-based Sabavala, whose art is a blend of impressionist and cubist styles of painting sold for a personal record price according to figures released by the online auction house.
Casuarina Line, a serene landscape, was acquired by an Indian-origin buyer for Rs 1.7 crore far exceeding the pre-sale estimate of Rs. 50 lakh.
The 88-year-old Sabavala got his initial training from the J. J. School of Arts in Mumbai in 1944. He then went to the Heatherly School of Art in London in 1947, to the Academic Andre Lhote in Paris and to the Academic de la Grande Chaumiere in 1957.
Mr. Sabavala’s 60-year career started with his first solo exhibition at the Taj Mahal Hotel in Mumbai, put up with the help of fellow artist M F Husain and some carpenters. His last exhibition was in 2008.
Even as Mr. Sabavala created a personal record in this auction, modern master S. H. Raza who had set the auction charts blazing with a record over Rs. 16 crore earlier this month topped Saffronart’s summer auction.
Mr. Raza’s “La Provence Noire” went under the hammer at Rs. 3.3 crore the highest fetched by the auction house in this season’s sale, followed by an untitled work by Subodh Gupta which sold for Rs. 2.2 crore.
“Fifty-three per cent lots sold for above the higher estimate, and 10 lots sold for over a crore each, pointing to a broad level of interest across the auction,” says Dinesh Vazirani, CEO and Co-founder of Saffronart.
M. F. Husain’s untitled work fetched the highest value sold via mobile, at Rs 1.06 crores and another of his work “8 horses” sold for Rs. 2 crores.
While an untitled work by V. S. Gaitonde fetched Rs 1.5 crores, N. S. Harsha’s “We Don’t Know Why We Are Stitching Plants” went for Rs 1.27 crores.
Gaitonde, Souza and Akbar Padamsee were among the 10 lots which fetched over Rs. one crore in the two day sales on June 16-17.
73 of the total 90 works on offer were sold successfully, grossing an total of Rs. 30 crores in lively bidding that saw 53 per cent of the lots sold exceeding their estimated price.
10 lots won via Saffronart’s mobile application, with winning bids totalling Rs. 4.2 crores registered from iPhones and Blackberrys. “This season also witnessed a number of new registrations and bidders, thus engaging a wider group of collectors. We believe this collector base will continue to grow in the art market’s new growth phase,” says Mr. Vazirani.