Souza's rare gems steal the show at Christie's
FN Souza's iconic masterpiece, The Lovers fetched a record ₹40 crore
Francis Newton Souza's artwork stole the spotlight at a recent Christie’s New York auction of South Asian Modern and Contemporary Art, netting a record $19,721,120. "The Lovers" by Souza fetched a staggering $4,890,000, or ₹40 crore (including buyer's premium) setting a new global benchmark for the artist. The sale, coinciding with Souza’s 100th birth anniversary, sold 100% of the lots offered, surpassing the low estimates by a whopping 310%. Notably, the auction's success extended beyond Souza's iconic masterpiece, The Lovers.
The Christie’s auction, and Sotheby’s Hong Kong Spring Sales earlier this week, demonstrate the robust market for South Asian art, with collectors recognizing the immense talent from the region. "We are thrilled to have set a new record for FN Souza in this landmark sale that celebrated the 100th anniversary of his birth. The market for this artist and this category are stronger than ever, a testament to the brilliance of South Asia's artists," Nishad Avari, head, Indian art, at the auction house, said.
Other notable deals at the Christie’s auction included Souza's Priest with Chalice fetching $3,922,000 and Gulammohammed Sheikh's
Portrait of a Tree realizing $1,381,000—both exceeding the low estimates by a significant margin. Souza's Men in Boats fetched $693,000. An untitled piece by Manjit Bawa exceeded its low estimate, more than doubling its value to $693,000. A third untitled work, Head of a Cardinal, by Souza netted $630,000.
According to art critic Uma Nair, the exorbitant price fetched by Souza's artwork is primarily due to its rarity, besides its historical significance. Unlike many artworks that may have multiple similar pieces, this particular Souza is uncommon. she added. "As time passes, the pool of rare artworks shrinks, making them even more desirable to collectors. This limited supply drives up demand, and consequently the price." According to Artprice.com, Souza, born in 1924, has had a prolific auction history with 3,316 recorded sales. His works primarily fall under the drawing-watercolor category. The earliest recorded auction for Souza was that of the Nude woman looking in a hand mirror in 1991 at Bonhams in the UK, and the most recent was and Untitled (Landscape) in 2024. Souza ranks 109th in top 500 best-selling artists worldwide, according to 2023 auction turnover. At separate auctions earlier this week, two large paintings by acclaimed Indian artist Sayed Haider Raza fetched a combined ₹86 crore. Previously unseen, these artworks have reignited interest in Raza's artistic legacy. The first painting, Kallisté (most beautiful in Greek), dating back to 1959, got a staggering $5,619,900 (around ₹46 crore) at Sotheby's on 19 March. The second, Paysage Agreste, was put on the block on 17 March at the Métayer-Mermoz auction house in Antibes, France. It was sold for €4.75 million (around ₹40 crore), including buyer's premium.
These remarkable sales figures cement Raza's status as one of India's most valuable artists. Significantly, this marks the second instance in the past six months where a Raza painting has commanded a multicrore price tag.
In late 2023, his piece "Gestation" sold for a record ₹51.75 crore (including commissions) at a Pundole's auction. While this achievment was briefly surpassed earlier this year by Amrita Sher-Gil's The Story Teller fetching ₹61.8 crore, Raza's consecutive high-value sales underscore his lasting impact on the Indian art market.
At the Sotheby's auction earlier this week, an important Bhupen Khakhar work titled Hatha Yogi sold for $1,814,500 (₹15 crore) and an Atul Dodiya artwork titled Roadside Temple sold for $190,500.
100% of the lots offered were sold during the sale