Manjit Bawa sets record at AstaGuru’s ‘Modern Odyssey’ Auction!

‘Modern Odyssey’ – The latest auction conducted by AstaGuru turned out a booming success with total sale value of INR 77.73 Crores. Manjit Bawa’s painting ‘Untitled (Krishna)’ commanded the highest price of INR 25.11 Crores, far exceeding other top performing artists in the auction including F N Souza, Ram Kumar, Bikash Bhattacharjee and others. This is the highest ever price realized for Manjit Bawa’s painting, breaking the previous records.

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AstaGuru Auction House concluded their latest auction ‘Modern Odyssey’, conducted during 11-12^th December, 2023, with booming success. The auction featured a finely curated collection, taking art enthusiasts on a captivating journey through significant eras of Modern Indian Art. The auction witnessed sale of 204 lots out of the 205 lots presented, with a total sale value of USD 8,943,084 (INR 77.73 Crores).

Manjit Bawa proved to be the absolute master of this auction leading the entire auction with a sale value of USD 3,062,344 (INR 25.11 Crores) thus accounting for about one third of the total sale value of the auction, for his painting ‘Untitled (Krishna) painted in 1992. This is the highest price ever realized for the paintings of Manjit Bawa, breaking all the previous records globally. The most recent highest sale price was for his painting ‘Untitled (Shiva)’ at Sotheby’s, London auction which went under the hammer for GBP 1.86 Million (INR 18.81 Crores), in October 2023.

Bawa’s striking work ‘Untitled (Krishna) features a central figure strongly reminiscent of Krishna against a striking red backdrop. The protagonist leans over a supine lion, a symbolic gesture perhaps drawing inspiration from the Bhagavad Gita, where Krishna introduces himself as ‘Hari’ or lion. An ode to the artist’s profound connection to Indian mythology, the painting was executed in 1992 with oil on canvas.

Along with Bawa, other top performers of the auction were F N Souza, Ram Kumar, Bikash Bhattacharjee, Gulam Mohammed Sheikh, N S Bendre, J Swaminathan, and C Raja Raja Varma (Raja Ravi Varma’s brother) even though with a great difference in the sale value of their works as compared to Bawa’s. Among them, F N Souza, Bikash Bhattacharjee and J Swaminathan exceeded their respective estimated price range significantly. A close look at the top 10 lots of the auction would provide an insightful view.

Sunny Chandiramani, Vice President, Client Relations, AstaGuru Auction House said, “We are honoured to curate a collection that spans decades, showcasing the evolution of Indian art through the masterpieces of iconic modernists. The auction provided a unique opportunity for art enthusiasts and collectors to acquire exceptional pieces, each telling a compelling story of creativity and inspiration. From the vibrant symbolism in Manjit Bawa’s masterpiece to the historical narrative captured in Raja Raja Varma’s painting, the auction promised a journey through the soul of Indian art.”

Indeed, the ‘Modern Odyssey’ auction has proven to be a booming success for AstaGuru. With new highest sale value record for Manjit Bawa and several instances where the actual sale values far exceeded the expectations, it has brought the vibrant scenario in the Indian art auction market to the fore.

For further information and auction analysis, please log on to www.astaguru.com

Vineel Bhurke

Note: All sale figures are inclusive of auction house margin.