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Tyeb Mehta's untitled work fetches Rs 2.28 crore in Osian's auction

Tyeb Mehta , Untitled- Oil on Canvas, 1966
Tyeb Mehta , Untitled- Oil on Canvas, 1966
An untitled 1966 work by the late Tyeb Mehta got the highest bid of Rs 2.28 crore at the second of four auctions in Osian's Creative India Series which concluded on the night of January 27.
 
This was followed by a bid of Rs 1.44 crore received for a 1969 untitled work by painter Ramkumar.
 
Two rare miniatures – Folio leaf from a Harivamsha Khil Series (Kangra School) and Folio leaf from a Mahabharata Series (Kangra or Guler School) fetched Rs 52.80 lakhs each.
 
The auction featured important and rare Pahari School Miniatures (Kangra, Guler and Mandi Schools) along with modern and contemporary Indian art by eminent artists such as Sailoz Mookherjea, Satish Gujral, Ramkumar, Manjit Bawa, Biren De, Tyeb Mehta, J. Swaminathan, Vivan Sundaram, G.R. Santosh, Shanti Dave, V.S. Gaitonde, Rameshwar Broota, Sohan Qadri, R. Kaleka, Anjolie Ela Menon, Aparna Caur, V.T. Broota and Subodh Gupta, among others.
 
In all, the auction, fetched Rs 14.14 crores, a press release from Osian's said. It said that, of the  123 lots put up for auction, 82 (65.6 per cent) were sold at the auction with a total sales of Rs 14.14 crore ($ 2,719,269) with an Average Lot Price of Rs 1,724,415 ($ 33,162).
 
Total lots sold (17 out of 20) in the Antiquities Section of Pahari Miniatures were 85% valued at Rs  18,550,000 ($ 356,730) with an Average Lot Price of Rs 1,030,556 ($ 19,818). Total lots sold (65 out of 103) in the Modern & Contemporary Art Section were 62% valued at Rs 122,852,200 ($ 2,362,542) with an Average Lot Price of Rs 1,919,566 ($ 36,915).
Ramkumar- Untitled, Oil on canvas 1969
Ramkumar- Untitled, Oil on canvas 1969
According to the release, this second auction in the series manifested an improvement in terms of revenue on the ‘Bengal’ Auction (as was expected) which realized sales of Rs 7.95 crores. 
 
Neville Tuli, Founder & Chairman of Osian’s said, “These last two auctions in the Creative India Series are a clear pointer to the ongoing consolidation of Osian’s and the art market after two very difficult years. With lessons imbibed from the past, the progress of Osian’s after consolidation will reveal many new institutional changes and innovations in the coming months. These processes will naturally contribute towards the stabilization and continued growth of the Indian art market and its infrastructure. 
 
"The results of the antiquities sales at this auction were especially encouraging and underscore the huge potential for the Indian antiquities domestic market. Hopefully the government will facilitate this growth wherever possible.”
 
The next two auctions in the series will be held in in Mumbai on March 23 focusing on art from Bombay and Baroda and thereafter in New Delhi on May 28 featuring the Cholamandal School & the Art of South India.
 
NNN
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