South Asian Modern Sales Show Mixed Market

      By Raj Rangarajan and Eileen Kinsella

 NEW YORK—London sales of South Asian modern and contemporary art, at Sotheby’sand Christie’s last week, presented a mixed picture of the market with widely uneven results.

At the Sotheby’s June 8 sale of South Asian modern contemporary art and Indian miniature paintings, just 37, or 42 percent, of the 88 lots offered found buyers. By value, the auction was 23.5 percent sold, one of the lowest such rates seen in any category. The sale realized a total of £546,800 ($844,915).

Sotheby’s specialist Holly Brackenbury said: “The Indian art market is undergoing a period of adjustment after the heights it reached several years ago. It is still developing and, at present, collectors are highly selective.”

She added that “there was strong pre-sale interest in many of the paintings and we anticipate that this will translate into post-sale offers for several key works.”

Still, most of the top lots met or exceeded estimates, including a work by modern masterFrancis Newton Souza, whose painting Goan Landscape, 1964, sold for £68,450 ($105,769), well above the £30,000/40,000 estimate; and A. Balasubramaniam’s fiberglass and acrylic sculpture titled Gravity, 2006, which sold for £43,250 ($66,830) on an estimate of £20,000/30,000.

An untitled oil painting by Sri Lanka-born artist George Keyt sold for £16,250 ($25,110), compared with an estimate of £8,000/12,000.

The remaining top lots, even those by the most prominent painters of this genre, fell within relatively modest presale estimates. Ram Kumar’s 1956 untitled oil sold for £55,250 ($85,372), on an estimate of £50,000/70,000, and Sayed Haider Raza’s oil Ville d’Avray,1962, sold for £34,850 ($53,850).

At Christie’s South Asian modern and contemporary art sale, the house offered 112 lots. Of these, 86, or 77 percent, found buyers. The auction was also 77 percent sold by value.

The top-selling lot was Tyeb Mehta’s Untitled (Mahishasura), 1996, which sold for £1.4 million ($2.1 million) on an estimate of £1.2 million/1.8 million.

Raza also figured in the top lots here, with Clocher du Village, 1958, taking £481,250 on an estimate of £450,000/600,000, while another of his works, an untitled 1980 painting, sold for £121,250 ($188,544) on an estimate of £120,000/180,000. Also by Raza, Untitled(Crucifixion), 1957, sold for £103,250 ($160,554) on an estimate of £40,000/60,000, andVillage au fond rouge, 1958, also cleared its £40,000/60,000 estimate to sell for £85,250 ($132,564).

Hugo Weihe, Christie’s international director of Asian art, said the sale “performed well across the board with works which were fresh to the market and from private collections securing strong prices.” Weihe said the auction “demonstrated the breadth of demand for this category with collectors, institutions and dealers from South East Asia, India, the Middle East to Europe and the United States bidding throughout.”

Among the more contemporary works, Bharti Kher’s Border in Red, 2009, comprised of bindis on aluminum panel, sold for £85,250 ($132,564), compared with an estimate of £50,000/70,000. Two works by Manjit Bawa also figured in the top lots, each selling for £85,250 ($132,564): Untitled (Goat with Aubergines), 1992, which had an estimate of £60,000/80,000; and Untitled (Acrobat), 1988, which had been estimated at £40,000/60,000.

Vibrant Bidding at Christie’s Hong Kong Sales

         —Raj S. Rangarajan 

Vol. 37, No. 37

NEW YORK—Fine art accounted for more than HK$1.4 billion ($181 million) of the overall HK$2.7 billion ($351.7 million) total at Christie’s recent Hong Kong auctions, including six-day and evening sales.

At the evening sale of Asian 20th-century and contemporary art, held on May 26, the total was HK$361.7 million ($46.6 million) and the auction was 91 percent sold by lot, 96 percent sold by value. Sanyu’s Blue Chrysanthemums in a Glass Vase, painted in the 1940s, led the sale with a final price of HK$47.7 million ($6.1 million), surpassing the high estimate of HK$28 million. Also in the top lots, and marking the sale’s third-highest price at HK$38.7 million ($5 million), was Pink Lotus, also painted in the 1940s. Zeng Fanzhi took second place with Fly, 2000, which sold for HK$39.8 million ($5.1 million). Zao Wou-Ki continues to be at the forefront of these sales, with three of the top-ten lots fetching a total of HK$45.7 million ($5.9 million) for his works, each at prices higher than estimated.

The day sale of Asian 20th-century art, on May 27, totaled HK$170.5 million ($22 million), with 85 percent sold by lot, and 96 percent sold by value. The Asian contemporary art figure was HK$97.2 million ($12.5 million), with 72 percent sold by lot, 79 percent sold by value.

Eric Chang, international director of Asian 20th-century and contemporary art, attributed “the robust results of the sale in part to Christie’s integration of southeast Asian contemporary and modern art into the overall Asian category, creating a wider pan-Asian platform.”

In the 20th-century category, Lin Fengmian’s Opera Series: Beauty Defies Tyranny, painted in the 1950s, sold above estimate at HK$11.6 million ($1.5 million). Chu Teh-Chun’s Accent d’orgue, 1995, sold at HK$9.6 million ($1.2 million) and his work figured again in the top ten with Untitled No. 221, 1965, selling at HK$4.8 million ($620,816), or two times the high estimate of HK$2.4 million. Also in this category, Zao Wou-Ki figured in the top ten with two works obtaining a total of HK$10.2 million ($1.3 million).

In the Asian contemporary art sale, the top lot Hearth, 1988, by Shang Yang, sold at five times its high estimate, for HK$6.4 million ($821,744). Zeng Fanzhi, known for his “Mask” series, placed second with his 1997 Mask selling at HK$5 million ($651,728).

The fine Chinese modern paintings sale, held May 29, fetched HK$454.1 million ($58.5 million), and was 91 percent sold by lot and 93 percent sold by value. In the top ten, five paintings by Zhang Daqian brought prices above estimate, with Separation, 1996, selling for HK$34.2 million ($4.4 million). The remaining four works totaled HK$54.7 million ($7 million).

Ben Kong, international specialist head of Christie’s Chinese paintings department, said Chinese paintings sales this season “continued to incite bidding from a diverse group of collectors, further reflecting a pattern of sustained growth in the market for Chinese paintings.”                                                                                                                     

Sotheby’s Hong Kong Sales Reap Rewards of Regional Buying

by Raj S. Rangarajan

NEW YORK—Sotheby’s Hong Kong spring sale series, held April 2–4, totaled HK$2.4 billion ($316 million), compared with a total last spring of HK$2.6 billion ($337 million).

While Chinese ceramics and works of art, as well as jewelry, continue to be the top-earning sales categories here, auctions of modern and contemporary Asian art also performed well.

In the evening contemporary Asian art sale on April 2, the total was HK$211.3 million ($27 million) with Bloodline – Big Family: Big Family No. 2, 1993, an oil on canvas by top-selling Chinese contemporary artist Zhang Xiaogang, having sold for HK$52.2 million ($6.7 million). An acrylic on canvas, 1993 No. 4, 1993, by Fang Lijun, fetched HK$28.7 million ($3.7 million). Both of these were sold to a museum in Shanghai.

Evelyn Lin, head of contemporary Asian art, said, “We were able to source numerous desirable works of Xiaogang’s for sale, notably this masterpiece.” A record was also set for Jia Aili’s It’s Not Only You Who is Pale (Triptych), 2007, an oil on canvas with a painted wooden chair. The painting sold for HK$6.6 million ($848,718), surpassing the HK$2.5 million/3.8 million estimate.

The 20th-century Chinese art category totaled HK$255 million ($32.6 million), while modern and contemporary Southeast Asian paintings on April 2 brought in HK$96 million ($12.3 million). Of the 166 lots offered, 79 percent were sold by lot, 92 percent by value. The top lot was Banyan with Two Young Balinese, by Walter Spies, which sold for HK$9.6 million ($1.2 million), followed by Self Portrait with Child, by Hendra Gunawan, which sold for HK$6 million ($771,794).

Records were set for contemporary works, including Red Ceiling by Ay Tjoe Christine, which sold for HK$2.4 million ($310,256), well above the high estimate of HK$350,000, and The Purple Curtain by Vietnamese artist Le Pho, which sold for HK$2.9 million ($371,795), again clearing the high estimate of HK$800,000.

Said specialist Mok Kim Chuan, “as in previous seasons, bidding came from all over Asia with determined interest from new markets in the Greater China region.”

Zao Wou-Ki, a pioneer in abstract work, figured in five of the top-ten lots in the 20th-century Chinese art category, on April 2, with his 25.06.86 setting a new auction record when it sold for HK$25.3 million ($3.24 million). His 25.05.70 followed, selling for HK$24.2 million ($3.1 million). Both works were bought by Asian private buyers.

On April 3, the fine Chinese paintings sale realized HK$468 million ($60 million). A pair of gold screens, Willows at the Riverside; Begonias by Qi Baishi was bought by an Asian private bidder for HK$70.1 million ($9 million), three times the high estimate of HK$20 million. Mount Lu by Fu Baoshi was sold for HK$24.2 million ($3.1 million) at three times the high estimate of HK$7 million.

Asian Art Sales Dip From Year-Ago Highs

by Eileen Kinsella and Raj S. Rangarajan

NEW YORK—Asian art sales held in New York the week of March 19–23, yielded lower overall volumes than last year, despite broad international demand for certain categories. Christie’s realized over $60 million, for seven sales, including three private collections. The top category was the house’s sale of Chinese ceramics and works of art that had realized $23.3 million as ARTnewsletter was published. It was followed by a private collection sale of Indian and southeast Asian art, assembled by dealer and collector Doris Wiener, that took a record $12.8 million. By comparison, Christie’s took in $117 million at last spring’s sales, and $60 million in 2010.
Sotheby’s realized $61.8 million for four sales, led by classical Chinese paintings, which accounted for $35 million, or more than half of the total, followed by Chinese ceramics, which brought $20.7 million. Indian and southeast Asian art yielded $3.8 million, while modern and contemporary south Asian paintings brought $2.1 million. In 2011, Sotheby’s took in $84 million, compared with $22.6 million in 2010 (ANL, 4/5/11).

Modern Masters Lead South Asian Painting Sale

Christie’s sale of south Asian modern and contemporary art on March 21 realized $7.7 million for 124 lots offered. Of these, 85, or 69 percent, were sold. By value, the sale realized 82 percent.
The top lot was Tyeb Mehta’s Untitled (Figures with Bull Head), 1984, an oil on canvas that sold for $1.8 million, compared with an estimate of $1.5 million/2 million.
The second-highest lot was Akbar Padamsee’s Cityscape, 1959, which sold for $1.3 million against an unpublished estimate in the region of $1 million.
Also by Padamsee, Mirror Image, 1996, was the third-highest lot. The diptych oil on canvas sold for $422,500, falling within the $400,000/600,000 estimate.
Hugo Weihe, Christie’s international director of Asian art and specialist in South Asian modern and contemporary art, said “works from modern masters continue to lead sales and contemporary works received renewed interest.”
The rest of the sale was led by mainstays, including Francis Newton Souza and Maqbool Fida Husain, as well as more recently executed works, including those by Subodh Gupta.
Syed Haider Raza’s Untitled (Village), 1958, sold for $410,500, compared with an estimate of $200,000/300,000. The sale included a total of seven works by Raza that brought in just over $1 million altogether. Nuage Blanc, 1956, sold for $290,500 on an estimate of $150,000/200,000.
Souza’s Chance, 1966, also sold for $290,500, meeting the estimate of $250,000/350,000. A 2007, untitled oil on canvas, by Gupta, that featured the artist’s signature steel pots and pans, sold for $218,500 to a private Asian buyer.
Husain’s Untitled (Keehn Family Portrait), 1959, sold above the $100,000/150,000 estimate, for $206,500, to a dealer.
Said Weihe: “Cross-cultural buying continues to play a significant role in the development of this market, and this season’s was no exception. Contemporary works were mostly acquired by clients from the US, Europe, the UK, India and Hong Kong, with many of them being first time bidders.”
The Indian and southeast Asian art sale, also held March 21, realized $6.3 million, with 90, or 63 percent, of the 143 lots offered finding buyers. The top lot was a buff sandstone torso of Uma, 10th century (Khmer, Angkor period, Pre-Rup). It sold for $1.1 million, far surpassing the $350,000/450,000 estimate, and to a private European buyer. Japanese and Korean art contributed a more modest sum of $1.7 million with just 36 percent sold by value.
Christie’s auction of the Doris Wiener collection saw robust demand, with 346, or 93 percent, of 374 lots finding buyers. By value, the sale was 96 percent sold. Weihe said the auction marked a “milestone” and was the highest total ever achieved for a single-owner collection of classical Indian and southeast Asian Art at Christie’s. He added that the results are a reflection of a “market that honors quality and provenance.”
The top lot was a gilt bronze figure of Padmapani, 13th century (Nepal), that sold for $2.49 million, against an estimate of $250,000/350,000. Another bronze group of Somaskanda, ca. 11th century (South India, Chola period), sold at $1.8 million, compared with a high estimate of $1.2 million.
Sotheby’s March 19 modern and contemporary south Asian art sale brought a total of $2.12 million. Of the 84 lots offered, just 48, or 57.1 percent, were sold by lot. The auction was 41 percent sold by value.
Raza topped the sale, with Jalashaya, 2000. The piece sold for $242,500, falling within the $200,000/300,000 estimate, to a private Indian buyer. It was followed by Husain’s Untitled (Scientist), 1965, which also sold for $242,500, against an identical estimate of $200,000/300,000.
Jagdish Swaminathan’s Untitled (Bird, Tree & Mountain Series), 1972, sold for $194,500, well above the $80,000/120,000 estimate, to an Indian dealer. Specialist Priyanka Mathew noted several strong prices, but conceded that the market is “selective,” and yielded “mixed results” in certain areas.
There were four other works by Husain in the top lots: Udaipur, 1962, sold for $98,500, meeting the $80,000/120,000 estimate; Untitled (Horse), an undated oil on mounted canvas, sold for $62,500, compared with an estimate of $50,000/70,000; Untitled (Woman on a Horse), undated, sold for $56,250, exceeding the $15,000/20,000 estimate; and an untitled gouache and ink on paper, 1949, depicting a woman with a broom, sold for $52,500, compared with an estimate of $35,000/55,000.
The Sotheby’s March 21 sale of Indian and southeast Asian works of art totaled $3.8 million, with 72 percent sold by lot and 74 percent sold by value. The top lot was a standing Vishnu, ca. 12th century (Nepal), which was bought by an American buyer for $590,500, against a high estimate of $300,000. The second-highest lot was a polished brown sandstone of Uma, 11th century (Khmer, Baphuon period), which was bought for $530,500, over four times the high estimate of $120,000.
Anuradha Ghosh-Mazumdar, head of the Indian southeast Asian art department said, “top lots—sculptures of Vishnu and Uma were completely fresh to the market, which helped drive prices well over the high estimates and reflected a stable market in this category.”
At Sotheby’s March 20 Chinese ceramics and works of art sale, two “Heaven and Earth” revolving brushpots from the Qianlong period led the sale. Both of the rare pieces well exceeded their respective $120,000/150,000 and $80,000/120,000 estimates to achieve a combined total of $3.5 million. Henry Howard-Sneyd, Sotheby’s vice chair of Asian art, said: “collectors are prepared to fight for objects with rarity and good provenance when offered at conservative estimates.

Chinese Buyers Compete For Top Works at Hong Kong Sales

by Raj S. Rangarajan


NEW YORK—Christie’s Hong Kong autumn sales (Nov. 25–30) realized a combined total of HK$2.85 billion ($366 million) across 12 sales of paintings, wine, jewelry, watches and works of art. Fine art and related works totaled HK$1.5 billion ($189.8 million). Last year’s comparable total for fine art (ANL, 12/28/10) was HK$512.4 million ($65.9 million).

François Curiel, president of Christie’s Asia said, “our 50th sale season in Hong Kong saw great participation from Asia (87 percent), with 73 percent of the buyers coming from Greater China.”
The evening sales on Nov. 26, which included Asian 20th-century and contemporary art, and a private collection sale, “Faces of New China: An Important Private Collection,” totaled HK$397 million ($51 million).

Five of Zao Wou-Ki’s paintings led the evening and exceeded their presale estimates. Both Cerf volant et oiseaux, 1955, and 22.7.64 sold for HK$35.4 million ($4.6 million) compared with an estimate of HK$10 million/15 million and HK$15 million/20 million, respectively.

A more recent work by Japanese artist Aya Takano also saw intense demand from bidders; You Want to Get Out of Here, Don’t You?, 2007, sold for a record HK$3.4 million ($435,683). At the private collection sale, The Massacre at Chios, 1994, by Yue Minjun, sold for HK$32.6 million ($4.2 million).

Eric Chang, Christie’s international director of contemporary art in Hong Kong, said: “Overall we are pleased to see an uptake in cross-cultural buying by international collectors.”

The day sales of Asian contemporary and 20th-century art totaled HK$307.5 million ($39.4 million) with 76 percent selling by lot and 90 percent by value.

Sales of fine Chinese modern paintings totaled HK$595 million ($76.3 million) and fine Chinese classical paintings and calligraphy totaled HK$183 million ($23.5 million). Lotus, a set of modern scrolls by Cui Ruzhuo, dated “early summer, xinmao year (2011),” realized HK$123.9 million ($15.9 million), far exceeding its estimate and setting a new auction record for the artist.

Regional Demand Drives Hong Kong Sales

by Eileen Kinsella and Raj. S. Rangarajan

NEW YORK—Sotheby’s large and wide-ranging fall auctions in Hong Kong—the offerings of which ran from blue chip Bordeaux wines to antiquities, classical Chinese paintings and contemporary Asian art—once again underscored the intense demand from wealthy Asian buyers for fine art and other luxury goods.

The series was off to a strong start on Oct. 2 with Sotheby’s second offering of contemporary Chinese art from Belgian collectors Guy and Miriam Ullens. The sale, subtitled “Experimentation and Evolution,” featured 90 works, of which 84 (or 93 percent) were sold, for a total of HK$132.4 million ($17 million), well above the high HK$106 million estimate. By value the auction realized 94 percent. Combined with the earlier offering of works from the Ullens collection last spring (ANL, 4/19/11), the house has now sold a total of HK$556 million ($71.5 million) of the couple’s art.

The recent auction featured early works by major artists such as Zeng Fanzhi and Liu Ye with private Asian collectors accounting for all ten of the highest lots.

The top price of the sale was HK$20 million ($2.6 million) paid for Zeng’s Mask Series 1998 No. 26, an oil on canvas, 1998, that cleared the high end of the HK$20 million estimate. It was followed by Liu’s Portrait of Qi Baishi, an acrylic on canvas, 1996, that sold for HK$14 million ($1.8 million), well above the HK$7 million/9 million estimate. Evelyn Lin, head of contemporary Asian art said the results demonstrate a healthy market, adding that, “many of the top lots sold for multiples of the estimates and works created in the 1990s by established contemporary Chinese artists continue to achieve strong prices.”

The following day, Sotheby’s sale of modern and contemporary Southeast Asian paintings took in HK$83 million ($10.6 million) with 95 percent of the lots selling by value and 81 percent sold by lot. Tuak Manis (Sweet Wine), 1979, by Indonesian artist Hendra Gunawan sold for HK$7.2 million ($925,461) at four times the low estimate of HK$1.8 million.

The sale was notable for the number of lots sold at better-than-expected prices and several auction records were set for artists from Indonesia, Singapore and the Philippines. Mok Kim Chuan, Sotheby’s head of modern and contemporary Southeast Asian art said, “collectors responded with enthusiastic competition for appealing canvases. Record prices were achieved for Nanyang artists Cheong Soo Pieng and Georgette Chen, as well as for Swiss artist Theo Meier whose career was spent in Bali.”

Women In The Garden by Meier sold for HK$3 million ($402,564), compared with an estimate of HK$850,000/1.3 million, while Untitled (Balinese Girl) by Cheong sold for HK$2.1 million ($269,704), compared with an estimate of HK$240,000/380,000. Layers for the Circles by Ay Tjoe Christine sold for HK$1.8 million ($233,333), compared with an estimate of HK$200,000/300,000, and Chen’s Lotus sold for HK$1.1 million ($141,026), on an estimate of HK$250,000/350,000.

The highest prices of the week were for artist Zhang Xiaogang, whose works have been at the forefront of the explosion in Chinese contemporary art prices, and for Zao Wou-Ki.

At the 20th-century Chinese art sale on Oct. 3, the top lot was Zao’s 10.1.68, which sold for an artist record of HK$69 million ($8.8 million), nearly double the high HK$35 million estimate. Works by Zao accounted for seven of the ten-highest lots, bringing in a total of $16.6 million. This included the second-highest price of the sale for Vaque, which sold for HK$30 million ($3.8 million).

Sylvie Chen, head of Sotheby's 20th-century Chinese art department, said: “The strong market response to the Spring sale of this category allowed us to source a remarkably deep group of works by the influential Chinese modern master Zao Wou-Ki from collectors across Europe and the United States, which were fresh to the market.”

Other top-selling works included oil on canvas paintings by Wu Guanzhong. His Scenery of the Lijiang River, sold for HK$26 million ($3.4 million).The sale’s total was HK$337 million ($43 million) with 94 percent of the lots selling by value and 77 percent by lot.

In the contemporary Asian art sale, also held Monday, the totals were HK$228 million ($29.2 million) with 88 percent sold by value and 73 percent by lot.

A work by Zhang Xiaogang led the sale, when the 1994 oil on canvas, Bloodline: Big Family No. 1, was bought by a private European collector for HK$65.6 million ($8.4 million), compared with an estimate of HK$58 million/65 million. A record was set for Zeng Fanzhi with five of his oil paintings in the top lots. His oil on canvas, Mask Series 1998 No. 5, sold for HK$31 million ($4 million), compared with an estimate of HK$27 million/35 million. Series 2, No. 11, painted in 1991-92 by Fang Lijun was bought by a European bidder for HK$10 million ($1.3 million), on an estimate of HK$3.5 million/4.5 million.

Sotheby’s specialist Lin said that there was “strong international participation at all levels of the market. We were privileged to be able to offer a core group of masterpieces by key artists, sourced from collections in the U.S. and Europe, and the market pursued them with vigor.”

Sotheby’s said its Oct. 4 sale of fine Chinese paintings marked the highest grossing sale in this category to date, realizing a total of HK$738 million ($95 million), for 364 lots offered. Just a fraction of that group, 15 works or four percent, did not find buyers. By value the sale realized 99.3 percent.

The top lot was Zhang Daquian’s Self Portrait in the Yellow Mountains, which sold for HK$47 million ($6 million) compared with an estimate of HK$8 million/12 million. It was followed by Fu Baoshi’s Boating Under the Willows, which sold for HK$31 million ($4 million), on an estimate of HK$12 million/15 million. Many of the top lots far exceeded expectations, such as Fu’s Pavilion in the Solitude of the Mountains, which sold for HK$30 million ($3.8 million) compared with an estimate of HK$12 million/15 million.

Sotheby’s: Indian Contemporary Art Sale Fizzles; Welch Sale Sizzles

by Raj S. Rangarajan


NEW YORK—Sotheby’s modern and contemporary South Asian art sale, on May 31 in London, met with lackluster interest from buyers. Of 60 lots offered, just 33 were sold. By value, the auction was 47 percent sold, achieving a total of £1.6 million ($2.7 million).
An oil on canvas, Rue des Fossés St Jacques, 1957, by Sayed Haider Raza (b. 1922), sold for £337,250 ($557,609), on an estimate of £300,000/500,000. The work shows a view from the studio window that Raza and his wife, painter Janine Mongillat, rented in Paris in the ’50s.
An untitled painting by Manjit Bawa (1941–2008) was bought by a trade buyer for £157,250 ($259,997), compared with an estimate of £100,000/150,000, and another by Bawa, also untitled, sold for £61,250 ($101,271), against an estimate of £50,000/70,000.
Two more untitled pieces, these by the recently deceased Maqbool Fida Husain (1915–2011), were bought by private U.S. buyers, one for £87,650 ($144,921), on an estimate of £50,000/70,000, the other for £63,650 ($105,239), compared with an estimate of £30,000/40,000.
Records at Auction of Welch Collection
Titled Arts of India, the second part of the sale of the Stuart Cary Welch collection of Islamic and Indian art was held at Sotheby’s London on May 31, realizing £8.4 million ($13.9 million); combined with the first part (held in April), total sales were £29.3 million ($48 million). The April sale had a sell-through rate of 96.2 percent by lot, while Arts of India posted sell-through rates of 98 percent by lot and 99.6 percent by value.
Welch (1928–2008), a curator of Islamic and Indian art at the Harvard Art Museum, was also a special consultant for the department of Islamic art at the Metropolitan Museum of Art; he began collecting Indian art as a young boy.
The May sale saw an auction record for a Nepalese painting: Vasudhara Mandala, 1365, by Jasaraja Jirila, sold for £825,250 ($1.4 million), doubling the £300,000/400,000 estimate.
The top lot however, was Sri Bhairavi Devi with Shiva, ca. 1630–35, attributable to Payag, Mughal, which sold to a “North American institution,” for £1.4 million ($2.3 million), far higher than the £30,000/40,000 estimate.

Asian Art Continues to Surge at Christie’s Hong Kong

Raj S. Rangarajan


NEW YORK—Christie’s spring sales of Asian art in Hong Kong, including paintings, ceramics and works of art, as well as watches and jewelry, held May 28–June 1, realized a total of HK$3.9 billion ($496 million), a much higher figure than last year’s total of HK$2.3 billion ($294 million). At the recent sales, fine art accounted for HK$1.9 billion ($243.56 million).
In the evening sale of Asian 20th-century and contemporary art on May 28 (93 percent sold by lot and 95 percent sold by value), the total was HK$492.7 million ($63.3 million). The top lots were works by Zao Wou-ki (b. 1920), whose 2.11.59 sold for HK$41 million ($5.3 million) and 14.11.63 sold for HK$38.7 million ($5 million).
The Leopard, 2010, by Zeng Fanzhi (b. 1964) sold for HK$36 million ($4.6 million) amid intense bidding, to Chinese entrepreneur Zhao Zhijun. All proceeds of this sale went to the nonprofit The Nature Conservancy, and Christie’s also waived its commissions. The Leopard will be housed at Zhao’s private museum in Beijing, according to Christie’s.
In the Asian contemporary-art day sale on May 29, where the total was HK$160.2 million ($20.6 million), Zeng also led the top ten. The artist’s painting Andy Warhol, 2005, sold for HK$9.6 million ($1.2 million), while Sky No. 2 sold for HK$9 million ($1.2 million) surpassing estimates of HK$2.5 million/3.5 million.
Golden Wedding, 2008, by Xin Dongwang (b. 1963) sold at HK$5 million ($650,210), far above the high estimate of HK$900,000, to an Asian bidder. Two of Yu Youhan’s paintings fetched healthy prices from European private bidders. Yu’s White Cat, Black Cat, 1993, (estimate: HK$1 million/1.5 million) sold for HK$4.6 million ($588,530), while his Mao Image in Rose, 1992, sold at HK$3.4 million ($434,330), compared with an estimate of HK$2.5 million/3.5 million.
Auction records were achieved for a wide range of works, including twelve lots by Chinese artists, three by Japanese artists, two by Korean artists and one for an Indian artist. Also a record was the HK$2.4 million ($310,970) given for A passerby hears a fair maiden’s laughter in the garden ring, by Chinese artist Pang Jiun (b. 1936), against an estimate of HK$1.2 million/1.6 million.
François Curiel, president of Christie’s Asia said, “strong bidding with moments of passionate enthusiasm was the hallmark of the week of spring auctions in Hong Kong. With sales up 65 percent over the same period last year, the growth of the art market in Asia is greater than anywhere in the world. This is due to the strength of the economy in the region and also to the great appetite of Asian collectors for works of art of the finest quality.”
The sale of Chinese modern paintings totaled HK$958 million ($123.1 million) and was 98 percent sold by lot and 99.8 percent by value. Works by Zhang Daqian (1899–1983) accounted for the top three lots, and a total of six in the top ten in this category. Lotus, 1981, sold for HK$56.7 million ($7.3 million), compared with an estimate of HK$6 million/8 million, and was bought by an Asian private buyer. Landscape along Highway Hengguan, 1965, went for HK$52.2 million ($6.7 million)—six times the high estimate of HK$8 million—and Contemplating upon an Autumn Landscape, 1967, was sold for HK$51 million ($6.6 million), far higher than the estimate of HK$8 million/10 million.
Ben Kong, international specialist and head of Christie’s Chinese paintings department, said the session “saw a consistently packed auction room where buyers, particularly from Greater China, vied throughout the ten-hour sale for the best works from modern masters,” such as Zhang Daqian, Wu Guanzhong, Xu Beihong, Lin Fengmian and Li Keran while affirming that “the Chinese paintings market is going from strength to strength.”
The day sale of Chinese 20th-century art totaled HK$108.6 million ($14 million), and was 88 percent sold by lot and 98 percent by value. Again Zao figured in the top lots, with 5.6.63 selling for HK$18.6 million ($2.4 million), doubling the estimate of HK$6 million/7 million, and Ciel de Paris, 1954, selling for HK$6.5 million ($835,250), three times the high estimate of HK$1.5 million/2 million. Sharing a Secret, 1992, by Ai Xuan (b. 1947) sold at HK$5.8 million ($742,730) compared with an estimate of HK$1.5 million/2.5 million.
The Southeast Asian modern and contemporary art category totaled HK$49 million ($6.3 million), with 76 percent sold by lot, 90 percent by value. The top lot, Temple Festival in Bali by Adrien-Jean Le Mayeur de Merprès, realized HK$7.7 million ($989,450), compared with an estimate of HK$1.9 million/2.6 million, and was bought by an Asian corporation. Indonesian artist Affandi (1907–90) had two works that fetched strong prices: Ayam Jago (Man with a fighting rooster), 1968, was bought by an unidentified Asian corporation for HK$3.6 million ($465,170), far higher than the estimate of HK$800,000/1 million while Penjual Tuwak (Tuwak seller), 1970, also by Affandi, was purchased by a private Asian bidder for HK$2 million ($264,710), well above the estimate of HK$600,000/800,000.
Ruoh-Ling Keong, head of Christie’s Southeast Asian modern and contemporary art department, said the “highly positive reception for the sale shows it struck a solid balance between the two pillars of modern and contemporary art, with significant cross-buying from the regions.” Two records were set in the modern art category: La Piedra IV, 1973, by Filipino artist Fernando Zobel (1924–84), which sold for more than four times its estimate, at HK$1.6 million ($203,030), and Anxiety, 2010, by BenCab, aka Benedicto Yeyes Cabrera (b. 1942), which sold for HK$740,000 ($95,090), against an estimate of HK$350,000/450,000.

Hong Kong Sales Point to Soaring Asian Art Market...Again

by Raj S. Rangarajan

NEW YORK—Sotheby’s Hong Kong Spring sale series totaled HK$3.49 billion ($447 million), up considerably from last year’s total of HK$2 billion ($256.2 million).

Amid skepticism from some observers, prices for contemporary Chinese artworks have once again soared past expectations, leaving some to wonder if this second boom, which has come so quickly on the heels of the market downturn, is sustainable.

The auction house’s headline offering, “The Ullens Collection–The Nascence of Avant-Garde China,” was assembled by Belgian collectors Baron Guy Ullens and his wife Myriam. It, included seminal works of Chinese contemporary art from the 1980s and 90s, several of which have rarely been seen since their creation and acquisition. The auction was 100 percent sold and contributed HK$427.2 billion ($54.8 million) to the total.

Forever Lasting Love (Triptych), a monumental oil on canvas, 1988 by Zhang Xiaogang (b. 1958), set an auction record of HK$79 million ($10.1 million), selling far above the high estimate of HK$30 million.

The rise in prices for Zhang Xiaogang has been one of the most dramatic in the contemporary art market in recent years. In 2005, New York dealer Max Protetch was selling works by the artist for under $100,000. By early 2006, when Sotheby’s held its first sale of contemporary Asian art in New York (ANL, 4/25/06), the record leapt to $979,200 for the 1998 painting, Bloodline Series: Comrade No. 120, a 74-by-59-inch oil on canvas that had been estimated at $250,000/350,000. The price stunned many collectors and dealers, including Protetch himself, who told ARTnewsletter at the time: “It took me by surprise. I thought we were getting good prices last year [2005]”.

In 2007 the artist joined the Pace Gallery, where he had his first solo show, in New York, in 2008. Since 2006, at least 50 paintings by Zhang Xiaogang have sold for over $1 million each at auction according to a database. The day following the Ullens sale, another piece from the artist’s “Bloodline Series” brought $7.3 million.

Apart from Zhang Xiaogang, additional records were set for artists including: Zhang Peili (b. 1957) for Series “X?” No. 3, 1986, which sold for HK$23 million ($2.97 million); Geng Jianyi (b. 1962) for Two People Under a Light, 1985, which realized HK$18.6 million ($2.38 million); Ding Yi (b. 1962) for Appearance of Crosses 90-6, 1990, an acrylic on canvas which sold for HK$17.46 million ($2.23 million); Yu Youhan (b. 1943) for 1985-4, acrylic on canvas, 1985, that sold for HK$14.1 million ($1.8 million); and Liu Wei (b. 1965) for No Smoking, 1998, which sold for HK$14.1 million ($1.8 million).

A work by Wang Guangyi (b. 1957), Mao Zedong: P2, 1988, sold for HK$19.1 million ($2.5 million), the third-highest auction price for the artist.

Fine art category totals included modern Chinese paintings which took HK$648 million ($83 million); 20th-century Chinese art, which realized HK$236 million ($30.2 million); contemporary Asian art, which took in HK$183 million ($23.5 million); modern and contemporary southeast Asian paintings, which took in HK$108 million ($13.8 million); as well as Chinese ceramics and works of art, which brought HK$583 million ($75 million).

In the contemporary Asian art sale, which was 88 percent sold by lot, and 93 percent sold by value, a record was set for Li Songsong (b. 1973). Li’s China Past [diptych], 2006, was sold for HK$4.2 million ($541,026). Untitled No. 11, 2001, an oil by Zeng Fanzhi (b. 1964), went for HK$10.8 million ($1.4 million).

The modern Chinese paintings auction was 99.7 percent sold by lot, and 99.2 percent sold by value. The top lot was Spring Mountains in Sichuan, 1953, ink and color on paper, hanging scroll, 1953, by Zhang Daqian (1899-1983), which sold for HK$64.5 million ($8.3 million) at three times the HK$18 million estimate. It was followed by The Lion Grove Garden, 1987, ink and color on paper, by Wu Guanzhong (1919-2010) sold for HK$28.7 million ($3.7 million).

C.K. Cheung, head of the fine Chinese paintings department said the sale “went from strength to strength with bidding pushing many prices past pre-sale estimates. While buying in today’s sale was overwhelmingly Asian, the ultimate prices were due to active participation of under-bidders from around the world.”

In the 20th-century Chinese art sale, which was 89 percent sold by lot and 94 percent sold by value, most works surpassed estimates. Appearing in the market for the first time in decades, the diptych, Inspiration Hivernale, oil on canvas, painted between 1987 and 1990 by Chu Teh-chun (b. 1920) and signed in pinyin and Chinese, was bought by a private Asian buyer for HK$28.7 million ($3.7 million). Pins Landais, 1955, oil on canvas by Zao Wou-ki (b. 1921) sold at five times the HK$4 million high estimate for HK$23 million ($3 million) and Amitie, oil on canvas, executed in 2003 by Chen Yifei (1946-2005) was bought for HK$17.5 million ($2.2 million).

The modern and contemporary southeast Asian sale posted two new artist records for Hendra Gunawan and Filipino artist Ronald Ventura. Penari Ular (Snake Dancer), oil on canvas, 1977, by Gunawan (1918-1983) sold for HK$16.3 million ($2 million) while Ventura’s Grayground, 2011, graphite, acrylic and oil on canvas, sold for HK$8.4 million ($1 million) at twenty-four times the high estimate of HK$350,000. Mok Kim Chuan, head of southeast Asian paintings said “Grayground was competed for by 15 bidders and our strong results both for established names and for younger artists making their first appearance at auction demonstrate a market in a healthy state of expansion.”

Asian Contemporary Art a Bright Spot at Subdued Hong Kong Sales

                    

      Vol. XXXIV, No. 17                                                                                                                       by Raj S. Rangarajan

Asian Contemporary Art a Bright Spot at Subdued Hong Kong Sales

NEW YORK—Sotheby’s spring sales of Asian paintings, held in Hong Kong April 5–6, were not as robust as those in recent seasons. This year’s sales totaled HK$317.33million ($40.6 million); the spring series a year ago took in HK$1.78billion ($227.5million) and in 2007, the total was HK$1.06 billion ($135.3million). However, some high prices, including several records, were posted for contemporary Chinese art, defying recent reports that this market has all but collapsed. The auctions also had solid sold-by-volume and sold-by-value rates that came as a surprise to some observers.

This year’s offerings included Chinese paintings, which took HK$129.77million ($16.6million);20th-century Chinese art, which realized HK$92.7million ($11.9million); contemporary Asian art, which totaled HK$66.4million ($8.5million); and modern and contemporary Southeast Asian paintings, which brought in HK$28.44million ($3.6million)

The auction of contemporary Asian art on April 6 was 74 percent sold by lot, 81.4 percent by value. A work by Chinese-born French conceptual artist Huang Yongping (b. 1954) scored a new auction record. Sixty-Year Cycle Chariot, 1999–2000, of copper, iron, wood and cloth, sold for HK$3.4million ($432,539), twice the HK$1.5million high estimate. A work by Chinese sculptor Sui Jianguo (b. 1956) also set a record: Legacy Mantle, 2005, a sculpture of a jacket cast in iron, sold for HK$3.14million ($401,826) on an estimate of HK$2.5million/3.5million.Yayoi Kusama’s painted ­fiber-reinforced-plastic Pumpkin, 2007, sold for HK$2.72million ($348,078), a record for a sculpture by the artist (estimate: HK$1.5million/2million).

The top lot was an untitled 2006 oil by Zhang Xiaogang, which sold for HK$4.8million ($616,815) against an estimate of HK$4million/5.5million). Yue Minjun’s oil Armed Forces,2005, was sold for HK$4.6million ($586,103), within the HK$3.5million/5.5million estimate.Evelyn Lin, Sotheby’s head of contemporary Asian art, said bidders came “from all over Asia as well as Europe and America.”

The auction of Chinese paintings on April 5 was 89.2 percent sold by lot, 96 percent by value. The top lot was Drunken Monk, 1943, a hanging scroll by Fu Baoshi (1904–65), which was sold to an Asian collector for HK$6.26million ($801,092), well above the high estimate of HK$5million.

The ink and pigment on paper Mount Jiuhua, 1979, by Li Keran (1907–89) was sold for HK$3.9million ($493,964), and Flowers and Insects by Qi Baishi (1864–1957) was bought for HK$3.62million ($463,251). C.K. Cheung, Sotheby’s head of Chinese paintings, called the results “an encouraging sign for the market that quality works are highly sought after.”

The auction of 20th-century Chinese art on April 6 was 80 percent sold by lot, 98 percent by value. Two artist records were set: the first for Lin Fengmian (1900–91), whose oil paintingFishing Harvest, circa late 1950s–early 1960s, sold for HK$16.34million ($2.1million) on an estimate of HK$3million/3.5million, and the second for Zhu Yuanzhi (Yun Gee, 1906–63), whose oil-on-silk mounted on board The Last Supper, circa early 1930s, was bought by an Asian dealer for HK$6.02million ($770,379), well above the estimate of HK$2.5million/3.5million. The latter was originally commissioned by St. Peter’s Lutheran Church in the Bronx, New York, and had been believed lost until it was rediscovered in a U.S. private collection.

Freshness to the market played a role in the strong prices. Lily Lee, Sotheby’s head of 20th-century Chinese Art, said eight of the top ten works had never appeared at auction before.

The auction of modern and contemporary Southeast Asian art on April 5 was 76.8 percent sold by lot, 86 percent by value. Indonesian painter I.Nyoman Masriadi (b. 1973) led the field withNegosiasi (Negotiation), 2008—an homage to director Sergio Leone’s Once Upon a Time in the West, the artist’s favorite movie—selling for HK$1.7million ($217,950) against an estimate of HK$600,000/800,000. Another work by Masriadi, Ingin Menang Harus Curang (Want to Win, Must Cheat), 2001, an acrylic-on-canvas depicting an illegal tackle in a soccer game, sold for HK$1.6million ($202,564). Both works sold to private Asian buyers, according to Sotheby’s.

Oh Boy, 2009, an oil painting, by Filipino artist Ronald Ventura (b. 1973), sold for HK$836,000 ($107,179), four times the high estimate of HK$180,000. Mok Kim Chuan, Sotheby’s head of modern and contemporary Southeast Asian paintings, said that there were “exceptional prices achieved for top-quality paintings by masters,” adding that this market “remains vibrant” and ­noting interest from U.S. and European collectors.

Demand for Contemporary Art Cools at Christie's Hong Kong Sales

     Vol. XXXIV, No. 8                                                                                         Raj S. Rangarajan

NEW YORK—Modern and contemporary Asian art yielded uneven results at Christie'sseries of sales in Hong Kong in late November. While more traditional collecting categories, such as Chinese modern paintings and Southeast Asian modern and contemporary art,fared relatively well, yielding sold-by-lot and sold-by-value rates above 70 percent,contemporary Asian art in particular saw a sharp decline in demand. Christie's sale of Asian contemporary art on Nov. 30 realized HK$65.9million ($8.5million), less than half its projected value. Of 32 lots on offer, just 18, or 56 percent, found buyers.

The results were hardly surprising given the current global economic turmoil and the rapid escalation in prices for Chinese contemporary art in recent seasons. On the other hand, the top lot of the sale, Zhang Xiaogang's Bloodline: Big Family No. 2, 1995, sold for HK$26.4million ($3.4million), indicating that there is still solid demand for an artist whose prices have skyrocketed into seven figures in a short period of time.

The second-highest lot was Liu Ye's painting Composition in Red, Yellow and Blue, 1997, which sold to an Asian collector for HK$7.2million ($931,380) on an estimate of HK$6.5mil­lion/9.5million.

Liu Wei's 1994 painting Swimmers '94 sold for HK$4.6million ($590,820) against an estimate of HK$4.6million/5.4million, also to an Asian collector. Cai Guo-Qiang's Project No. 143–The Mark of 921, 2000, an installation of gunpowder on paper on wood panels (estimate: HK$3.5million/5.5million), sold for HK$4.2million ($544,380).

A U.S. dealer acquired an untitled 2005 painting of pots and pans by Subodh Gupta for HK$3.6million ($466,980), just clearing the low estimate of HK$3.5million with premium. An unidentified European institution bought an untitled 2001 painting by Tetsuya Ishida, which sold for HK$2.9million ($374,100) on an estimate of HK$2million/3million).

Christie's evening sale of 20th-century Chinese art, also held on Nov. 30, realized HK$74.7million ($9.6 million) with 22 lots offered. Only ten of the lots found buyers, but by value the sale was 64 percent sold. The top lot of the sale, Zao Wou-Ki's painting Hommage à Tou-Fou, 1956, accounted for more than half the total, bringing HK$45.5million ($5.9million), a new record for the artist. Another painting by Zao, 23-1-60, 1960, realized HK$1.9million ($250,260) on an estimate of HK$1.2million/2million).

The second-highest price of the sale was the HK$8.4million ($1.1million) paid by an Asian collector for Sanyu's Potted Chrysanthemums, circa 1940s–50s, a dark-toned floral still life (estimate: HK$3million/5million).

Artist records were also set for Yun Gee, whose Old Broadway in Winter, circa 1930–40, sold for HK$5.8million ($745,620), and for Yu Chengyao, whose Magnificent Landscape, 1984, sold for HK$5.8million ($745,620).

Christie's sale of Southeast Asian modern and contemporary art realized HK$28.5million ($3.7million). Of 114 lots offered, 84, or 75 percent, were sold. By value, the auction was 88 percent sold. The top lot was Las Damas Romanas (Roman Maidens), by Filipino painter Juan Luna (1857–1899), which sold for HK$4.7million ($606,300), far below the low estimate of HK$8million. Works by Indonesian artist I.Nyoman Masriadi (b. 1973) figured prominently in the high end of the sale, with four works landing in the top ten. Marathon, a large mixed media on canvas estimated at HK$800,000/1.6million, sold for HK$2.1million ($265,740). Works by Indonesian artists Han­diwirman Sahputra (b. 1975) and Budi Kustarto (b. 1972) also sold above estimate.

Ruoh-Ling Keong, vice president and head of the Southeast Asian and contemporary art department, said that "private collectors continue to be the primary force on the market, collecting masterworks against a backdrop of a difficult economic climate." In total, the five-day Hong Kong series, which included sales of jewels, classical paintings, calligraphy and watches, realized HK$1.13 billion ($146 million).

Asian Art Auctions Upbeat Despite Financial Crisis

Vol. XXXIV, No. 3                                                                                                      Raj S. Rangarajan 

NEW YORK—Sales of Asian art at Christie’s and Sotheby’s in New York Sept. 15–19 were healthy, despite a drop in overall volume to $77 million from over $100 million last fall (ANL, 10/16/07). Contemporary Asian art—particularly by artists from South Asia—continues to show strength.

Christie’s realized $51.14 million for eight sales, up from $44.43 million for four sales last year. The top-grossing sales at Christie’s were of Chinese ceramics and works of art, which took $13.2 million, and of South Asian modern and contemporary art, which followed closely with a total of $12.6 million.

Sotheby’s realized $26 million in four sales, the lion’s share of which was for contemporary art. Two sales—contemporary Asian art on Sept. 17 and modern and contemporary South Asian art on Sept. 18—took a combined $16.4 million, accounting for well over half of the total. However, Sotheby’s overall Asia week total was less than half the $61.9 million it took in last fall. Last summer, Sotheby’s announced that, starting in 2009, it would hold all of its contemporary Asian art auctions in Hong Kong, noting that that is where the house has achieved the highest prices for the category.

At Christie’s South Asian sale, 84 of the 126 lots on offer, or 67 percent, found buyers. By value the auction was 78 percent sold. The top lot was Subodh Gupta’s Steal 2, which sold just above its $1 million high estimate for $1.2 million to an American collector, despite its having been executed just last year. Two other works by Gupta figured among the top lots: Miter, also dated 2007, an installation featuring the artist’s signature stainless steel pots, cleared its $600,000/800,000 estimate to sell for $1 million, and an untitled 2005 oil on canvas (estimate: $600,000/800,000) sold to an Indian dealer for $962,500.

Also breaking the $1 million mark was Maqbool Fida Husain’s painting Ritual, 1968, which surpassed its $600,000/800,000 estimate. An oil painting by Tyeb Mehta, Untitled (Yellow Heads), 1979, sold for $902,500. Three years ago, Mehta’s painting Mahisasura, 1997, was the first Indian painting to sell at over a million dollars when it fetched $1.6 million at Christie’s (ANL, 9/27/05).

Two works by Rameshwar Broota (b. 1941) sold well, with the oil painting Man, 1991, bringing $506,500 (estimate: $250,000/350,000) and The Same Old Story II, 1979, a painting depicting two large monkeys conversing arm-in-arm, taking in $662,500, more than triple the estimate of $150,000/200,000.

Six auction records were set for works by artists representing India, Pakistan and Bangladesh, including Jyothi Basu, Riyas Komu, Chitra Ganesh, Mohammad Zeeshan and Zainul Abedin. Indian artist Manjit Bawa’s oil on canvas Untitled, 1992, fetched a record $362,500 (estimate: $200,000/300,000).

Asian Demand Fuels Sales

At Christie’s sale of Chinese ceramics and works of art and masterworks of ancient and Imperial China, the top lot was an early Ming dynasty tianbai-glazed anhua-decoratedmeiping (a vase inspired by the shape of a female body), Yongle period (1403–1425), which sold to Hong Kong dealer Chak’s Company Ltd. for a record $2.8 million, more than three times the high estimate of $800,000.

Tina Zonars, Christie’s international director, Chinese works of art, said the sales “illustrate the continuing strength of the market.” Zonars noted that “among the stronger collecting fields were snuff bottles, white jade carvings, imperial ceramics—all Chinese-taste categories.”

The second-highest lot was a rare Qing dynasty yellow-ground “Dragon” vase decorated with green enamel, Qianlong period (1736–1795), which was won by London dealer Eskenazi Ltd. for $1.76 million (estimate: $600,000/800,000).

Theow Tow, deputy chairman, Christie’s Americas and Asia, noted “Asians in particular participated strongly in all collecting categories, both classical and contemporary,” in the sales.

Asian Contemporary Art Tops Sotheby’s Sales

At Sotheby’s “Contemporary Art Asia: China Korea Japan” session, Zeng Fanzhi’s Mask Series, 1997, was bought by a Japanese private collector for $1.1 million (estimate: $900,000/1.2 million). The second-highest lot was Kim Whanki’s Les Oiseaux Volants (Flying Birds), 1957, which an Asian dealer acquired for $434,500 (estimate: $200,000/300,000).

In all, the sale realized $8.5 million, with 137, or 65 percent, of the 211 works on offer finding buyers. The sold-by-value rate was also relatively modest, at just 64 percent.

Among the other top prices, Cai Guo-Qiang’s gunpowder-on-paper Two Eagles, 2005, sold within estimate for $422,500 (estimate: $380,000/550,000) and Zhang Huan’s Family Tree, 2000, sold for $386,500 (estimate: $120,000/180,000) to an American buyer.

Sotheby’s modern and contemporary South Asian art sale realized $7.8 million for 126 lots, of which 82, or 65 percent, found buyers. By value, the auction was 80 percent sold.

Work by many of the same artists, including Gupta, Mehta and Husain, dominated the top ten at Sotheby’s and Christie’s in this category. Mehta’s acrylic-on-canvas Falling Figure with Bird, 2003, sold for a high-estimate $1.5 million. Gupta’s oil painting One Cow, 2003, depicting a bicycle slung with containers of milk, sold for $866,500 (estimate: $600,000/800,000).

Works by Francis Newton Souza also figured prominently at Sotheby’s sale, including the painting Orange Head, 1963, which sold for $482,500 (estimate: $400,000/600,000); Christ on Palm Sunday, a 1956 oil on board, which sold for $266,500 (estimate: $220,000/320,000); andDeath and the Maiden, 1966, which brought $182,500 (estimate: $100,000/150,000).

In the Chinese ceramics and works of art sale, which included Chinese and Japanese art from a private collection, a polychrome wood and gesso sculpture of the boddhisattva Guhyasadhana Avalokitesvara, Ming dynasty, Xuande period, sold for $1.2 million (estimate: $1.4 million/1.6 million).