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Masterpieces Triumph: Raja Ravi Varma, Gaitonde, Padamsee Rule Pundole’s Fine Art Auction!
Pundole’s recent ‘Fine Art Sale’ Auction in Mumbai showcased the dominance of Raja Ravi Varma, Vasudev Gaitonde, and Akbar Padamsee, with their artworks contributing significantly to the total sale of INR 116.47 Crores. The auction highlighted the vibrant Indian art market and the timeless allure of masterpieces.
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In the illustrious world of fine art auctions, where brushstrokes tell stories and canvases whisper history, the recent ‘Fine Art Sale’ at Pundole’s Auction House in Mumbai was nothing short of a spectacle. Held on Thursday, 7th December, the auction unveiled a symphony of colors, emotions, and legacy, with three artistic maestros – Raja Ravi Varma, Vasudev Gaitonde, and Akbar Padamsee – stealing the spotlight and commanding unprecedented sale values.
A total of 79 lots, showcasing the works of 44 artists, graced the auction floor. The outcome was nothing less than spectacular, as 78 out of the 79 lots found new homes, amassing a staggering total sale value of INR 116.47 Crores. What truly captivated the connoisseurs and collectors, however, were the top 5 lots, each fetching prices exceeding INR 10 Crores, with the trinity of Raja Ravi Varma, Vasudev Gaitonde, and Akbar Padamsee reigning supreme.
Raja Ravi Varma, celebrated for his lithographs, emerged as the undisputed star of the auction. Three of his masterpieces – ‘Dattatreya,’ ‘Pandurangavittal and Rakhumaye (Krishna and Rukmini),’ and ‘Rama, Sita and Laksmana Crossing the Sarayu’ – collectively commanded a jaw-dropping sale value of INR 45 Crores. This impressive sum constituted almost 40% of the entire auction’s total sale. Notably, these pieces hailed from the Fritz Schleicher family collection, steeped in history as Fritz Schleicher acquired them in 1903 along with the Ravi Varma Fine Arts Lithographic Press.
Vasudev Gaitonde’s ‘Untitled’ painting, a vivid creation from 1963, claimed the second-highest spot, selling for INR 16 Crores. What makes this sale even more noteworthy is that the proceeds from this artwork will be directed towards the Kadri Foundation, supporting the education of girls and addressing the medical needs of the underprivileged, a gesture that echoes the spirit of art for a noble cause.
Akbar Padamsee, with his painting ‘Metascape I’ from the late Amy Kharas collection, emerged as the dark horse of the auction. Surpassing all expectations, this masterpiece fetched a staggering INR 13.00 Crores, more than seven times its estimated range of 1.20 to 1.80 Crores, making it the most surprising and lucrative deal of the event.
A closer look at the data reveals intriguing patterns, especially in the top 11 highest sale value paintings.
The top Two of Raja Ravi Varma’s paintings, ‘Dattatreya’ and ‘Rama, Sita and Laksmana Crossing the Sarayu’, exceeded their estimated prices by six times and three times, respectively, showcasing the enduring allure and investment potential of these timeless works.
|
Lot Nos. |
Artist – Title |
Estimate range (INR Crores) |
Sale value (INR Crores) |
|
12 |
Raja Ravi Varma – ‘Dattatreya’ |
2.00 – 3.00 |
18.00 |
|
37 |
Vasudev Gaitonde – ‘Untitled’ |
15.00 -20.00 |
16.00 |
|
10 |
Raja Ravi Varma – ‘Pandurangavittal and Rakhumaye (Krishna and Rukmini)’ |
3.00 – 5.00 |
14.00 |
|
11 |
Raja Ravi Varma – ‘Rama, Sita and Laksmana Crossing the Sarayu’ |
8.00 -12.00 |
13.00 |
|
35 |
Akbar Padamsee – ‘Metascape I’ |
1.20 – 1.80 |
13.00 |
|
38 |
Tyeb Mehta – ‘Untitled’ |
2.00 -3.00 |
4.20 |
|
46 |
Ganesh Pyne – ‘The Conversation’ |
1.50 -2.50 |
4.00 |
|
50 |
Rameshwar Broota – ‘New Arrivals’ |
3.00 – 5.00 |
3.80 |
|
42 |
Jagdish Swaminathan – ‘Untitled’ (Bird, Tree and Mountain Series) |
2.00 – 3.00 |
3.20 |
|
49 |
Rameshwar Broota – ‘Spectators’ |
1.20 – 1.80 |
2.60 |
|
54 |
Krishen Khanna – ‘Meeting at Emmaus’ |
1.20 – 1.80 |
2.60 |
The subsequent lots in the auction continued to enchant bidders, with artworks by Tyeb Mehta, Ganesh Pyne, Rameshwar Broota, Jagdish Swaminathan, and Krishen Khanna securing places among the top lots totaling up a value of INR 20.4 Crores. Overall, the price spectrum of the top 11 paintings demonstrates the diversity and richness of Indian art, ranging from INR 18 Crores to INR 2.60 Crores.
The subsequent six top lots (Not shown in table) were sold at price range of INR 1 to 2 Crores consisting of art works by Ganesh Pyne, M F Husain, Bhupen Khakhar, F N Souza, and Ram Kumar.
The success of Pundole’s Fine Art Sale not only underscores the enduring appeal of masterpieces from iconic artists but also highlights the thriving art market in India. As these canvases change hands, they continue to tell stories, creating a legacy that transcends time and resonates with the hearts of art lovers and collectors alike.
Vineel Bhurke
Information Source: https://www.pundoles.com/
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