The highest bid of Rs 6,000,000 went to Souza followed by a fantasy series by K Ramanujam valued at Rs 4,800,000, establishing a new record price for the artist, according to the auction house.
Of the 120 lots put up for auction on June 21 here, 70 lots (58.33 per cent ) were sold garnering a total sales of Rs 65,788,800 (USD 1,196.160) with an average lot price of Rs 938,697 (USD 17,088).
The successful conclusion of the Creative India Series of Auctions marks an active return of Osian's to the art market after a gap of fifteen months, says the auction house. The total accruals for the four actions were Rs 40.90 crores
"These sales have helped Osian's regain its financial leadership position in the Indian market and second place in the global market behind Christie's," according to a statement released by the auction house today.
Neville Tuli, Chairman, Osian's said, "The Creative India Series has captured the imagination of the art market and collectors by its boldness of conducting such historically driven auctions during such a difficult financial period when the majority are only interested in buying the top 10 established artists." MORE
