Bombay, 25 March, Art Media Agency (AMA)
The Saffronart spring auction brought in 3.1 M$. Over 100 lots from the production of 57 Indian artists were on sale, including Subodh Gupta’s. The organizers of the auction expected to sell for between $1, 000 to $500, 000. The key lot was Tanava, completed in 1922 by S.H. Raza.
The work which sold for the highest price was auctioned for $420, 900. Untitled by Gupta was sold for $209, 300. Estimations were thus too optimistic. The tenth highest lot was Gathering is Evil by N.S. Harsha, auctioned for $89, 390.
78 lots were bought, which represents 65% of unsold items.
Saffronart also improved their website accessible via cell phones. It is the largest online auction website in the world.