Hammer time1 min read . Updated: 17 Mar 2009, 12:09 AM IST
Sotheby’s auction of Indian and Southeast Asian Art will be held in New York on 18 March, during the Spring Asia Week. The sale consists of fine examples of Modern and Contemporary painting and photography, Indian miniatures, and ancient Himalayan and Indian works of art. The auction house estimates that the sale will bring in excess of $2.7 million (about Rs14 crore). Lounge spoke with Maithili Parekh, deputy director, Sotheby’s, about auction in time of recession.
Sotheby’s, established in 1744, has seen many economic cycles. We believe that top quality art, with strong provenance and in good condition will always find a suitable collector. We continue to have auctions of Indian art as we believe this is a strong market and our client base is ever expanding.
With the recession, there must be a shift in the buyer profile?
Passionate collectors with means continue to buy and collect good works of art. The “investors" who were buying and selling works to make a quick buck are perhaps much lesser seen now.
Tell us about some of the artworks on offer?
Another modern highlight is Akbar Padamsee’s Nude from 1960, (estimate, $200,000-300,000). Contemporary highlights include an untitled work by T.V. Santhosh (estimate $8,000-12,000). There is also a rare 14th century Mandala of Manjushri and The Pancharaksha, from Nepal or Tibet (estimate $150,000-200,000).
Do Indian bidders have preference for any particualar kind of art?
Our Indian clients have varied tastes and some collect modern, while others gravitate toward contemporary. Older Indian art such as miniatures and sculpture also has a dedicated group of very passionate collectors. We have noticed in the past few years that some collectors who might buy a 16th century miniature are also keen buyers of, say, a Bharti Kher contemporary work.
There are quite a few miniatures up for auction.
For further details, log on to www.sothebys.com