The Amaya Collection of Modern & Contemporary Indian Art Totals $6.7 Million During Sotheby's Asia Week Sales

7/29/2019 The Amaya Collection of Modern & Contemporary Indian Art Totals $6.7 Million During Sotheby's Asia Week Sales

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For Immediate ReleasePress Release New York

New York | +1 212 606 7176 | Lauren Gioia | [email protected] | Ali Malizia | [email protected]|

THE AMAYA COLLECTIONOF MODERN & CONTEMPORARY INDIAN ART

TOTALS $6.7 MILLIONDURING SOTHEBY’S ASIA WEEK SALES

Vasudeo S. Gaitonde, Untitled, Sold for $965,000 (est. $600/800,000)

4 Artist Records Achieved inThe First International Evening Auction of Indian Art

NEW YORK, 19 March 2013 – The Amaya Collection, the first international Evening Sale of Indian Art and the first

single-owner sale in this category to be held at Sotheby’s in more than a decade, brought a strong total of $6,694,875,

just shy of its pre-sale high estimate of $7 million today. The 43 works on offer were assembled by esteemed collector

and author Amrita Jhaveri, and were highlighted by Untitled from Vasudeo S. Gaitonde, one of India’s most important

modern abstract painters, which sold for $965,000, above a high estimate of $800,000. Strong prices were

achieved for Sayed Haider Raza’s Rajasthan I from 1983, which brought $809,000, while multiple bidders drove



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Francis Newton Souza’s The Crucifixion to achieve $557,000 (est. $200/300,000). Additional highlights included

Manjit Bawa’s The Black Devi, which sold for $389,000, and Bhupen Khakhar’s 1988 Satsang, which fetched

$341,000 – both above their pre-sale high estimates.

Yamini Mehta, Senior Director, Sotheby’s International Head of

Modern and Contemporary South Asian Art, London and New York,

said: “It has been a privilege for Sotheby’s to handle this offering of works

from The Amaya Collection. Tonight’s strong results, which reached the high

estimate, are a testament to Amrita’s well-honed eye and decades of

experience in the field of modern and contemporary Indian art. And with

60% of the lots achieving prices above their high estimates, there is no

question that collectors are committed to pursuing works of the highest

quality. I am delighted to have been a part of this landmark sale which was my

first at Sotheby’s.”

Priyanka Mathew, Head of Sales, Modern & Contemporary South Asian Art, commented: “We have been

especially pleased and encouraged to see a number of new buyers enter the market this season. Tonight, their presence

contributed to strong prices for works by both the modern and contemporary artists in The Amaya Collection. The

resurgence of interest in contemporary works is particularly exciting for this market, with records set tonight for artists

including Banerjee and Joshi. Bidding was truly global, with equal participation coming from Asia, North America and

Europe, demonstrating strength in the Indian market.”

During this sale, Sotheby’s set four artist records at auction including ones for:

K.G. Subramanyan, whose Mask, Icon, Mount, Mascot sold for $185,000, well

above the previous record for the artist at auction (right); Anant Joshi, whose

mixed media piece, May Look Closer Than They Appear – 3, fetched

$60,000; Ranbir Singh Kaleka, whose Untitled (Twisted Rope) achieved

$32,500, above its estimate; and Rina Banerjee, whose The Strain of Fruit

Eaten Twice Produced More and More brought $27,500.

Our Asia Week sales continue tomorrow at 10am with our auction of Fine Chinese Ceramics and Works of Art and at

2pm with Indian & Southeast Asian Works of Art.

FOR MORE NEWS FROM SOTHEBY’SVisit: www.sothebys.com/en/inside/services/press/news/news.html

Sayed Haider Raza, Rajasthan I, Sold for$809,000, (est. $600/800,000)



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Sotheby’s has been uniting collectors with world-class works of art since 1744. Sotheby’s became the first international auction house when itexpanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fineart auction house in China (2012). Today, Sotheby’s presents auctions in 10 different salesrooms, including New York, London, Hong Kong andParis, and Sotheby’s BidNow program allows visitors to view all auctions live online and place bids in real-time from anywhere in the world.Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, as well as Sotheby’s

Diamonds and Sotheby’s Wine. Sotheby’s has a global network of 90 offices in 40 countries and is the oldest company listed on the New YorkStock Exchange (BID).

Estimates do not include buyer’s premium and prices achieved include the hammer price plus buyer’s premium.

Images are available upon request All catalogues are available online at www.sothebys.com or through Sotheby’s Catalogue iPad App.

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(212) 606 7000 F (212) 606 7107 WWW.SOTHEBYS.COM

Sale Results New York

Sale N08975 The Amaya Collection 19 MAR 13Grand Total: $6,694,876 (£4,435,455) Exch Rate: 0.66Sold by Lot: 93.0% Lots Offered: 43Sold by Value: 86.9% Lots Sold/Unsold: 40 / 3

Lot Price Estimate Buyer 12 $965,000 (£639,327) $600,000 - 800,000 Indian CollectorVasudeo S. Gaitonde, Untitled, 1962, oil on canvas

25 $809,000 (£535,975) $600,000 - 800,000 American Private

Sayed Haider Raza, Rajasthan I, 1983, acrylic on canvas

7 $557,000 (£369,021) $200,000 - 300,000 Indian PrivateFrancis Newton Souza, The Crucifixion, 1963, oil on canvas

15 $389,000 (£257,718) $150,000 - 200,000 Asian PrivateManjit Bawa, The Black Devi, 2002, oil on canvas

29 $341,000 (£225,918) $180,000 - 250,000 Indian CollectorBhupen Khakhar, Satsang, 1988, oil on canvas

17 $341,000 (£225,918) $200,000 - 300,000 Indian CollectorG. Ravinder Reddy, Family, 1997, painted and gilded polyester-resin fiberglass

3 $293,000 (£194,117) $200,000 - 300,000 European PrivateMaqbool Fida Husain, Puppet Dancers, 1963, oil on canvas

24 $269,000 (£178,217) $180,000 - 250,000 American PrivateJagdish Swaminathan, Bird and Mountain, 1975, oil on canvas

1 $245,000 (£162,316) $100,000 - 150,000 Indian PrivateMaqbool Fida Husain, The Horse That Looked Back, 1963, oil on canvas

2 $185,000 (£122,565) $200,000 - 300,000 Indian PrivateMaqbool Fida Husain, Woman with Spider, 1972, oil on canvas

39 $185,000 (£122,565) $120,000 - 180,000 Asian PrivateSubodh Gupta, Saat Samundar Paar V, 2003, oil on canvas

28 $185,000 (£122,565) $40,000 - 60,000 Asian PrivateK.G. Subramanyan, Mask, Icon, Mount, Mascot, 2000, oil on canvas***RECORD FOR THE ARTIST AT AUCTION***

Specialists in Charge: Yamini Mehta & Priyanka Mathew Press Office Contact: Ali Malizia (212) 606 7176Please note all prices include buyer's premium. Sale session totals are net aggregate figures plus premiums. Sotheby's buyer's premium is 25% on the first $100,000 of hammer price,20% on the portion of hammer price above $100,000 and up to and including $2,000,000 and 12% on the portion of hammer price above $2,000,000. **Estimates do not include



buyer's premium**

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The Amaya Collection of Modern & Contemporary Indian Art Totals $6.7 Million During Sotheby's Asia Week Sales