Shane Ferro
Art market news and commentary by the staff of Art+Auction

MARKET WATCH: Art market news and commentary by the staff of Art+Auction

Sotheby’s Bets on Indian Art Market, Dedicating an Evening Auction to the Amaya Collection

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In March, Sotheby’s will host its first evening auction of Indian art. The auction house has secured the Amaya collection of 20th and 21st century Indian art, compiled by the author and collector Amrita Jhaveri. The top lots are expected to be an untitled 1982 work by Tyeb Mehta, which is estimated to sell for $800,000-1.2 million (pictured below), and S.H. Raza’s “Rajasthan I” (est. $600,000-800,000, pictured above). Work by Indian masters M.F. Husain, Francis Newton Souza, and Vasudeo Gaitonde will also hit the block.

The 43-lot auction is estimated to bring $5-7 million. According to the auction house, the proceeds will underwrite a project space and lecture room at Khoj International Artists’ Association in New Delhi. Amrita Jhaveri will also donate a work by sculptor Mrinalini Mukherjee to the Tate Modern.

This sale could be a major test for the Indian art market in New York, which has been relatively weak over the last few seasons.

— Shane Ferro

(Image: S.H. Raza’s “Rajasthan I,” courtesy Sotheby’s)

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