| With the appetite for contemporary Indian art growing, the art auction business is expected to double in the coming two years and has the potential to grow five to seven times, said M Maher Dadha, chairman and managing director, Bid & Hammer. |
| Bangalore can make up a significant part of the growth. Bid & Hammer, the newest entrant into the art auction scene, offers valuation and authentication among other services to vendors and buyers. |
| The firm foresees an initial investment of Rs 2 crore which can go up to Rs 4-5 crore, including the cost of infrastructure and recurring cost, added Dadha. |
| Bid & Hammer auctioneers is set to hold its first auction in Bangalore on January 24. The entire collection for the auction was unveiled for the opening preview on Monday. |
| On offer in the paintings category will be 131 works collectively valued at a conservative Rs 10 crore, with prices ranging from Rs 30,000 to Rs 50 lakh. The offer includes works of artists like Jamini Roy, M V Dhurandhar, Gaitonde and F N Souza and a host of contemporary artists. |
| A section, comprising 58 lots are works of art from Rococo, art noveau, art deco and colonial periods. These include porcelain, silver, glass, frames and furniture. The prices of these are expected to range from Rs 20,000 to Rs 35 lakh. |
| The board of directors and advisors of Bid & Hammer include Maharaja of Jodhpur Gaj Singh II, Rukmini Varma, Savita Apte who was until recently head of Sotheby's South Asian Art, London and New York, and Deepak Chopra. |
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