First live Saffronart auction on Souza fetches over Rs 8 cr

A 1968 acrylic painting by F N Souza titled "The Man from After" fetched top bid in a sale of works sourced from his daughter's collection, included in the first phyiscal auction by Saffronart, here recently.
Held on September 11, the auction, "Francis Newton Souza: Works from the Collection of Keren Souza Kohn," billed as the first ever in the country dedicated to the legendary artist, realised a total of Rs 8.12 crore (USD 1,268,813) according to a statement released by the auctioneers.
The sale, which Saffronat has termed a "White Glove" saw three hours of active bidding in the auction room, online and on the phones achieving 100 per cent sales and exceeding the total high estimate of Rs 3.35 crore (USD 5,24,000)

Ninety seven per cent of lots sold above their high estimates and many works sold for several multiples of their estimate.
A 1967 oil-on-board painting "Head (Weeping Woman)" estimated at Rs 10,00,000 - Rs 15,00,000 (USD 15,625 - 23,440) fetched Rs 48,00,000 (USD 75,000). The work represents Souza's interpretation of Pablo Picasso's well known series of works from 1937 featuring the weeping woman from his epic mural Guernica, painted earlier that year.
The auction catalogue predominantly featured works on paper by Souza, many of which saw their values skyrocketing to as much as ten times or more of their estimated values.

"Untitled (Study for a Gentleman of our Times)", a 1955 work on paper sold for Rs 10,80,000 (USD 16,875), against an estimate of Rs 70,000 - Rs 90,000 (USD 1,095 - 1,410).

"Untitled (Head of a Saint)", a 1967 collage with watercolor and gouache, also generated great interest, despite being the last lot of the sale.
Estimated at a Rs 1,50,000 - Rs 2,00,000 (USD 2,345 - 3,125), bidding had just opened when a paddle went up for Rs 10,00,000 (USD 15, 625).
After several minutes of competitive bidding, the lot eventually hammered down for Rs 30,00,000 (USD 46, 875).

One of the earliest works in the auction was "Untitled (Landscape in Goa)", painted in 1945, which realized Rs 26,40,000 (USD 41,250).
Painted when the artist still went by the name Newton, it is inspired by the quiet beauty of Souza's verdant and idyllic birthplace, Goa.
The auction, said Saffronart, was a first for them not only in terms of being a live room auction with phone and online bidding, but also as a single artist auction.
The Souza auction and its preview, attended by over 400 collectors, were held as part of the first annual Art Week at Four Seasons Hotel Mumbai and supported by BMW India.

The Art Week included a art appreciation course and evening talks by noted experts from around the country.