Contemporary Asian/Indian Sales Underscore Market Momentu

Vol. XXXII, No. 22                                                                                                                       by Raj S. Rangarajan

NEW YORK—The continuing momentum of the market for contemporary Asian and Indian art was underscored by sales at Christie’s in London and Hong Kong last month. Christie’s London sale of modern and contemporary Indian art on May 21 realized £4.5 million ($8.8 million).

In Hong Kong a week later, sales of Asian contemporary art and modern and contemporarySoutheast Asian art—part of a larger series of Asian art sales that included jewelry andclassical Chinese paintings—fetched HK$325.6 million ($42.3 million). Several prominent Indian artists and three young contemporary artists—Subodh Gupta, Justin Ponmany andTalha Rathore—achieved record prices in the U.K. sale. In Hong Kong, auction records were set for ten Indian artists and one Pakistani artist.

In London the top lot was La Terre, 1985, by Indian artist Syed Haider Raza, which sold for £720,000 ($1.42 million) to an Indian private buyer (estimate: £400,000/600,000). Next came the painting Untitled, 1968, by abstractionist Vasudeo S. Gaitonde (1924-2001), which was acquired by an Indian private buyer for £490,400, or $967,559 (estimate: £450,000/550,000). Indian artist Maqbool Fida Husain, who was at the auction, saw his Untitled, circa 1960, sell for £132,000, or $260,436 (estimate: £100,000/150,000).

“The auction was packed and buzzing with numerous private and trade clients, some traveling from India for the sale,” reports Yamini Mehta, director of modern and contemporary Indian art at Christie’s.

Atul Dodiya Record at Hong Kong Auction

At the spring sale of Asian contemporary art in Hong Kong on May 27, a selection of 25 Indian and Pakistani works totaled $1.03 million. Says Mehta: “The sale reaffirms the vibrancy of the Indian contemporary art market, with new collectors bidding robustly across the globe, vying for top-quality works.” She notes that “the sale appeals to the international audience, as witnessed by record sales by Indian artists Atul Dodiya, T.V. Santhosh, and Jiten Thukral andSumir Tagra.”

After spirited bidding Vishal, a 1989 oil on canvas by Dodiya, fetched HK$3.1 million ($405,600) from a private Indian buyer; and Santhosh’s Hundred Square Feet of Curses,2005, earned HK$780,000 ($101,400) from a private Taiwanese buyer. Somnium Genero—Aeris 05, by Thukral and Tagra, 2006, took $85,800 from a French private buyer.

Among other records set: Portrait of the Artist and His Friends, 1991, by Chinese artist Yue Minjun (b. 1962), sold for HK$20.5 million ($2.66 million) to a private Asian buyer; Mask Series 1996 No. 8, by Zeng Fanzhi, fell for HK$12.6 million, or $1.64 million (estimate: HK$1/1.5 million)—another auction record; And Blue Sea, 1998, by Liu Ye (b. 1964), set a record when it garnered HK$7.9 million ($1.03 million).

The modern and contemporary Southeast Asian art sale also set two auction records: Women Around the Lotus Pond, 1950-51, by Belgian artist Adrien-Jean Le Mayeur de Merprès,brought HK$17.1 million ($2.22 million); and Street Musician, by Indonesian artist Hendra Gunawan (1918-1983), sold for HK$3.6 million ($468,000).

Ruoh-Ling Keong, vice president and head of the Southeast Asian pictures department at Christie’s Hong Kong, says the sale saw “vibrant and enthusiastic bidding . . . indicating a coming of age for contemporary Southeast Asian art. The robust results signify a continued rise in interest, with an unprecedented level of appreciation from collectors worldwide.”

"On demand: Krrish"

Online edition of India's National Newspaper
Friday, Jun 08, 2007


Hindi films on American TV

RAJ S. RANGARAJAN

Fans of Hindi cinema in the U.S. can now watch their favourite films in the comfort of their living rooms.

Bollywood buffs in the U.S. can now watch Hindi films on American TV, thanks to Cox Cable of America and Time Warner Inc. Of the 14 foreign language films that grossed over $ 2 million at the U.S. box office in the past year, seven were Hindi. I ndustry watchers in the U.S. and India are profoundly interested in the courtship. A sample: ‘A Mighty Heart’ with Brad Pitt and Angelina Jolie has been produced in India and will be released in U.S. on June 22, Johnny Depp and Amitabh Bachchan are in Mira Nair’s ‘Shantaram,’ Wes Anderson is in ‘The Darjeeling Limited’ and African-American actor Will Smith and George Clooney are reportedly interested in forthcoming productions.

New category

Now, BODVOD and Cox Communications in San Diego and Orange County have launched a new ‘Bollywood’ category on Cox’s ‘On Demand’ channel line-up. Cox’s digital cable subscribers will be able to order the latest Bollywood hit films whenever they want, using their Cox remote controls.

Not to be outdone, Time Warner Cable’s digital customers in states such as New York, New Jersey, California, Texas, North Carolina and Ohio can search for movie titles by surfing ‘On Demand Channel 1,’ selecting the ‘Movies’ folder, then the ‘By Category’ sub-folder and the ‘International.’

Each title may be viewed at any time for U.S. $3.95 with unlimited access within 24 hours. Viewers can pause, fast-forward or rewind. These media companies see growth potential in Indian cinema in the U.S. as well.

Through Channel 1, customers can access ‘Movies on Demand,’ they can click on ‘Foreign Films,’ and then ‘Bollywood.’ One of the highest-grossing films in India last year, the Adlabs’ sci-fi action thriller ‘Krrish,’ has also made its premiere on Cox’s ‘On Demand.’

Shah Rukh Khan’s action film ‘Don,’ the New York-set comedy ‘Jaan-e-Maan,’ and the Moghul-era romance ‘Umrao Jaan’ starring Aishwarya Rai and Abhishek Bachchan will be available later this year.

When asked why they are promoting Bollywood and South Asian content now, Suzanne Giuliani of Time Warner Cable of New York and New Jersey, says, “We started working with BODVOD during a Deepavali celebration about four years ago.”

Roger Keating, executive vice-president, Time Warner Cable, approved 1.9 million customers’ (in Southern California) access to Bollywood and South Asian movies and created a separate international category to showcase films from around the world.

A perfect strategy

In response to a question, Vin Bhat, head of BODVOD Networks, says, “Currently our distribution focuses on 11 million digital cable homes and we are in conversation with operators who will deliver Bollywood movies to hotels and motels in America. We acquire, package, and distribute Bollywood and other South Asian films, TV shows and music on ‘On-Demand’ media platforms.”

Calling this “ …a perfect strategic fit between Time Warner Cable and IFFLA,” Anjali Jindal, head of programming for the BODVOD network, says, “In addition to content, we focus on developing innovative, mutually beneficial partnerships for the viewing community.”