FROM RAJA RAVI VARMA TO RAVINDER REDDY
(21 March 2007)

The rapidly developing field of Modern and Contemporary Indian art has become one of the art market’s fastest growing areas. "This morning's sale reflected the continued strength and breadth of this collecting field. Led by Vasuedo S. Gaitonde's superb Untitled, 1968, from the collection of Mme Krishna Riboud which achieved $768,000, the sale saw further strong results for Progressive Movement artists with Syed Haider Raza's Untitled, 1982 ($480,000) and Francis Newton Souza's majestic Untitled (Black Nude) ($420,000).

Contemporary Indian artists also performed strongly with great prices for Ravinder Reddy, Jitish Kallat, Atul and Anju Dodiya, Sudarshan Shetty and Chitra Ganesh. Combined with the results of the modern and contemporary Indian works sold in last month's sale in Dubai, the total for Modern and Contemporary Indian art sold this season is $12.7 million. This reflects Christie's strategy of focusing on a global market at large and we are looking forward to our next sales in Hong Kong and London." Yamini Mehta, Head Modern and Contemporary Indian Art

The afternoon sale of Indian and Southeast Asian Art marked a milestone for the field. At nearly $7.5 million, it was the highest total ever achieved for classical Indian and Southeast Asian Art at Christie’s. All eyes were fixed on the magnificent circa 1400 bronze figure of Parvati from the Thomas Solley Collection, whose breathtakingly beautiful and sensuous presence had collectors from all over the world excited. Belonging to the category of cultural masterpieces that far transcend time and space, she was the well-deserved highlight of the sale at $2.7 million, setting a new world auction record for a classical Indian work of art.

Many of the star lots of the sale performed significantly above their pre-sale estimates, reflecting an informed market willing to honor quality and provenance and fully appreciative of the precious and rare in the field of classical Indian and Southeast Asian art as a whole.

Many of the star lots of the sale performed significantly above their pre-sale estimates, reflecting an informed market willing to honor quality and provenance and fully appreciative of the precious and rare in the field of classical Indian and Southeast Asian art as a whole. The sale total of nearly $7.5 million was the highest total ever achieved for classical Indian and Southeast Asian Art at Christie's." Hugo Weihe, International Director Asian Art.