The sub-continental heat this summer, compiled with the see-sawing economy and general global economic blues has had a major impact on the art world. The once ever rising art index fell for the first time this millennia, only last year, and the robustly growing Indian art market saw very few sales in its last few auctions and exhibitions. However, while the art world has been feeling the heat, artists, art investors and enthusiasts have not nearly disappeared, as this next weeks itself offers art the chance to make a comeback of sorts, as well as art lovers the chance to revel in some inspired works.
On June 10 and 11 is the Saffronart Summer Online Auction, which features both modern and contemporary artists. Speaking about the auction, Saffronart?s CEO and Co-founder, Dinesh Vazirani said, ?Saffronart has always been keen on making important works of highly prized Indian artists available to collectors around the world. Today, collectors have become very selective. Keeping this in mind, we have carefully edited this sale, and are committed to presenting extraordinary works at competitive prices. This auction also promises to entice new collectors with a number of historically and aesthetically significant works by recognised modernists and younger, contemporary artists.?
The auction has 85 lots of art works, compiled by 57 artists, which will be auctioned at http://www.saffronart.com. The auction house is of the opinion that these art works are competitively priced and will offer both serious collectors and first timers a chance to invest. However, the success of the auction will remain the determining factor of the same. As of now the total lower and higher estimates of the auction are Rs 11 crore and Rs 13.9 crore respectively. In this auction, both, the estimated value and number of artworks are lower than the previous few auctions and maybe the slowdown effect on the art world can provide people with a chance to pick up some rare pieces at highly competitive rates.
The auction highlights include important modern works by VS Gaitonde, Ram Kumar, Arpita Singh, Akbar Padamsee, MF Husain and Jogen Chowdhury. Also, prominent contemporary artists featured in the sale are Subodh Gupta, Hema Upadhyay, Anju Dodiya and Riyas Komu
AVS Gaitonde?s untitled canvas from 1984 has the distinction of being the catalogue cover as well as the highest priced painting pre-auction, with the estimated worth to be between Rs 1.55-1.75 crore. This modernist is considered to be one of the most reclusive Indian artists with minimal output. His paintings during the 1980?s echo one of his best painting phases, wherein he displays his mastery to the fullest, and this piece is thus indeed considered rare. The top end of the auction also includes an untitled work by Akbar Padamsee from his ?Metascape? series, which is estimated to get anywhere between Rs 45-55 lakh. And, rounding up the higher end of the auction are two artworks from Hema Upadhyay?s Bleeding Hearts series of 2005, which are expected to sell between Rs 10-12 lakh a piece. Also, with the likes of Subodh Gupta and Anju Dodiya, one can hope to see the contemporary artists, who have unfortunately been the worst hit in the last few months, showcase some good work that should make this auction all the more exciting. Jogen Chawdhury and MF Husain too have some works on auction and while they are not part of the catalogue cover, they have been known to raise the bar of many an auction before.
Another landscape artist who is showcasing 19 of his works, up to June 9 at Jehnagir Art Gallery and then from June 12 onwards at Tao Art gallery is Somenath Maity. These oil on canvas paintings cost anywhere between Rs 1.8-3.6 lakh a piece, with the most expensive work being a four by four oil on canvas cityscape painting worth Rs 3.6 lakh. Somenath Maity told FE ?The entire theme of the exhibition is based on my cityscapes and structure. I like dealing with this theme as it offers me a chance to highlight spacing and lighting both in my art work and I?m excited about this exhibition.?
While the art world hasn?t been painting the town red off late and has been on the sidelines as they wait for the spending power to return in the economy, art enthusiasts and promoters are still promoting the talent in India in a bid to establish an art culture here. With the heat bearing down this entire summer, will the coming art exhibits and auctions signal a weather change in the fortunes of the hugely underrated Indian art market is what remains to be seen. Till then, for art collectors, this is still a time to collect some fine pieces, especially with the number of buyers still on the lower side. As far as artists go, we all know hardships and struggles have always been a part of their lives and hopefully post these rough times, we will see some really inspired works from our contemporary artists. As of now, just like many others, the art world too will be hoping for fairer weather.