Auction stArs
Bazaar contributing editor Anju Chulani on the two art auctions that form the highlight of the London summer season
Sotheby’s senior director and international head of department, Yamini Mehta
pulled out all the stops with a spectacular viewing of paintings from the Modern
and Contemporary South Asian Art sale. At the brunch for this annual
event were over 400 of Sotheby’s top clients, including patrons and collectors alike such as Amrita Jhaveri,
Bhansari and Rajesh Shah, and Lalitha Mallya. The sale was just as superb. One of its highlights, a piece by Vasudeo S Gaitonde, with
a reserve price of £2,50,000 realised a staggering £6,98,500, whilst the Bhupen Khakhar, conservatively
priced at £1,00,000-1,50,000 achieved £1,82,500. “We were thrilled with the results, and though some of the works were modestly
estimated, we achieved the highest prices for summer,” said Mehta.
At the brunch that preceded the sale, delicacies included bite-sized
quails eggs Benedict on English muffins, hickory-smoked mini pancakes smothered
in maple syrup and melted butter, and a vast array of warm pastries, bagels, and
buns. Drinks on offer were even more unusual, and included molecular
mocktails, smoothies, and Bloody Marys with celery air.
IN CONVERSATION WITH YAMINI MEHTA
WHAT IS THE FUTURE OF THE INDIAN ART MARKET? Over the last two decades,
the Indian art market has been growing steadily, and we are seeing strong
demand for top quality, fresh-to-the-market works by the modern masters from buyers around
the world. Our Indian client base at Sotheby’s continues to grow with every sale, and in
the last year alone, the number of buyers has increased by nearly 40 percent. International
institutions, such as the Tate Modern, The Museum of Modern Art, the British Museum,
and the Guggenheim, are all increasing their holdings of South Asian Art, and
the profile of Indian Art is on the rise ANY INTERESTING STORY FROM
YOUR INTERACTIONS WITH AN INDIAN ARTIST? I am thinking a lot
about Husain, as the 100th anniversary of his birth nears. One of the
last times that I had met him, he was like an excitable child, animatedly telling
me about his future projects, and that he was working in new media as well. I recall thinking that even aged 97, here was a man ever
ready for adventure, bubbling with new ideas, and able to seize the moment. There was much to be learnt from him. IF YOU
COULD PURCHASE ANY ONE PIECE OF ART... One of the wonderful things about working at Sotheby’s, is that I get to rotate
my favourite works on the wall of my office for several months before our sales. I couldn’t possibly choose
just one! ARE THE BUYERS AT THE SOUTH ASIAN SALES MOSTLY INDIAN, OR DO THESE
ARTWORKS NOW APPEAL TO A BROADER AUDIENCE? The market for modern and contemporary
South Asian Art is now truly global. In the London sale in July, we witnessed bidding
from India, Europe, and the US. Indian art is on the rise, and besides
institutions, international collectors are entering the arena too. Collectors
from India are also expressing interest in other categories, such
as Impressionist Art, Art Deco, fine furniture, and jewellery. MOST
MEMORABLE SALE? The Amaya Collection, a world-class,
single-owner collection, was my first sale for Sotheby’s, which
happened in March 2013. It was our first Evening Sale of Modern
and Contemporary South Asian Art, and an honour we bestow only on
our most high profile sales categories. SOTHEBY’S RECENTLY BROKE ALL
PREVIOUS AUCTION RECORDS. TELL US MORE ABOUT THIS? In June, Sotheby’s New York set a new record for a carpet and
any Islamic work of art at auction, when the important and revered 17th-century Clark Sickle-Leaf carpet sold for US$ 33.8
million, which was more than four times the high estimate. AUCTION DOS AND
DON’TS Always research before bidding on a work. An informed buyer is our best
client. Auctions can be incredibly exciting, so set a maximum budget and try not to get
carried away by the thrill of the bidding process.