Exclusive artworks by Indian Modern Masters such as M F Husain, S H Raza, F N Souza and contemporary artists like Justin Ponmany, Milburn Cherian and Baiju Parthan are set to come under the hammer this weekend by online auctioneers AstaGuru.Com.
The fifth edition of Modern and Contemporary auction by the site features a total of 83 lots, auctioneers said in a statement.
S H Raza's artwork titled "Bhoomi" acquired from a private collection in Delhi is estimated to fetch between Rs 4 crore to Rs 6 crore (USD 689,655 - USD 1,034,483).
"Mother and Child" by F N Souza acquired from Gallery One in London that was previously from the Adler family collection is expected to be sold between Rs 1.75 crore - Rs 2 crore (USD 301,724 - USD 344,828).
"Noel", a S H Raza's rendition of the French countryside inspired by "constructions" of Cezanne, is valued at Rs 1.75 crore to Rs 2 crore (USD 301,724 - USD 344,828).
The auction is scheduled to being on September 7 at 10:30 am and conclude on September 8 at 9.30pm IST.
"The Indian art market has seen an upswing in Masters and Contemporary Art over the last few months after the recent growth and faith in the Indian marketplace. There is a lot of interest and buzz from collectors living in India as well as those living abroad to participate and bid in this upcoming auction," Tushar Sethi, Director, AstaGuru.Com said.
Works by Jamini Roy, H A Gade, Lalu Prasad Shaw, Manu Parekh, T Vaikuntam, Jogen Choudhury, Ganesh Pyne, Krishen Khanna, Bikash Bhattarchjee, Akbar Padamsee, Anjolie Ela Menon, Rameshwar Broota, Manjit Bawa, Sakti Burman, Satish Gujral are among the others which would be auctioned.
The auction house said it would donate one per cent of the funds collected through the sale to support the cause of avoidable blindness through Standard Chartered's "Seeing is Believing" initiative.
Ane exhibition of the lots set for auction have been scheduled for viewing at the ICIA House in Mumbai.
