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Bonhams – Modern and Contemporary South Asian Art Auction Analysis

  • Bonhams – Modern and Contemporary South Asian Art Auction Analysis
  • Bonhams – Modern and Contemporary South Asian Art Auction Analysis
June 14, 2015

Amazing day at Bonhams, London, during the Modern and Contemporary South Asian Art Auction. Out of 44 lots offered at the auction, a great number of 40 were sold, gathering $ 1,726,624, topping the total sum of high estimates for 78 percent. Without any doubt, the highlight of Bonhams – Modern and Contemporary South Asian Art Auction was Vasudeo S. Gaitonde, whose work Composition No.5 was sold for $ 201,328, achieving the second highest hammer high estimate difference of 333.3 percent.

Vasudeo S. Gaitonde’s Abstraction

Vasudeo S. Gaitonde is considered to be one of India’s foremost abstract painters. His art is influenced by ancient calligraphy and Zen philosophy. He used to create large scale surfaces with meticulously applied pigments, from which he would thereafter painstakingly remove areas with a palette knife; and, in that way, he experimented with form and shape. Gaitonde’s works are in permanent collections of a large number of museums and galleries, including Museum of Modern Art (New York), National Gallery of Modern Art (New Delhi), and many more. He lived and worked in New Delhi, until his death, in 2001.

  • Bonhams – Modern and Contemporary South Asian Art Auction Analysis

The Overview of Bonhams – Modern and Contemporary South Asian Art Auction

Bonhams – Modern and Contemporary South Asian Art Auction is considered to be a successful one, with 90.9 percent of lots offered being sold. A stunning percentage of 40 percent of sold lots, more precisely 16 of those, changed their owners for the hammer price larger than the high estimate, as opposed to 6 lots, or 15 percent, being sold for the price smaller than the low estimate. Eighteen lots, or 45 percent of lots, were sold in range of estimated value. The highest hammer price was seen in the sale of previously mentioned Vasudeo S. Gaitonde’s work Composition No.5 which was sold for $ 201,328. Average hammer price at this auction was $ 43,166, while the hammer price median was $ 12,777. The difference between average hammer price and median was -70.4 percent.

Speaking about the most successful lots, lots that have exceeded expectations before the sale, the winner of this auction is Shakir Ali, whose work Untitled (Birds) was sold with +500 percent difference between hammer price and high estimate. We should also mention (again) Gaitonde’s Composition No.5 and Composition No.4  by the same artist, that were sold with +333.3 and +300 percent difference between hammer price and high estimate. Three pieces had the second-highest hammer price –  Gaitonde’s Composition, Composition No.3 and Composition No.4 were sold for $185,842.

Vasudeo S. Gaitonde - Composition No.5 (Lot 33). Estimated at $30,974-$46,460; sold for $201,328
Vasudeo S. Gaitonde – Composition No.5 (Lot 33). Estimated at $30,974-$46,460; sold for $201,328
Vasudeo S. Gaitonde - Composition No.4 (Lot 32). Estimated at $30,974-$46,460; sold for $185,842
Vasudeo S. Gaitonde – Composition No.4 (Lot 32). Estimated at $30,974-$46,460; sold for $185,842
Jamini Roy - Untitled (Lot 1). Estimated at $ 4,646-$7,743; sold for $6,504
Jamini Roy – Untitled (Lot 1). Estimated at $ 4,646-$7,743; sold for $6,504
Imran Qureshi - Together (Lot 45). Estimated at $9,292-$12,389; sold for $ 23,230
Imran Qureshi – Together (Lot 45). Estimated at $9,292-$12,389; sold for $ 23,230
  • Bonhams – Modern and Contemporary South Asian Art Auction Analysis

Bonhams – Modern and Contemporary South Asian Art Auction in Details

Below you will find two tables with the summary of the Bonhams – Modern and Contemporary South Asian Art Auction and detailed information on every lot auctioned at this auction.

INDEXRESULT
Total number of lots:44
Number of sold lots:40
Sold lots [%]:90.9
Total [$]:1,726,624
Number of sold lots over high estimate:16
Over high estimate (Total) [%]:36.4
Over high estimate (Sold) [%]:40
Number of sold lots in range of estimated values:18
In range of estimated values (Sold) [%]:45
Number of sold lots under low estimate:6
Under low estimate (Sold) [%]:15
Results were under estimate spread of [%]:31.6
Max Hammer [$]:201,328
Average Hammer [$]:43,166
Median Hammer [$]:12,777
Median Hammer Average Hammer Difference [%]:-70.4
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Jamini Roy Untitled4,6467,7436,504-1640
2Jamini Roy Untitled (Deer)4,6467,7436,969-1050
3Jamini Roy Untitled (Worshipper)12,38918,58412,389-33.30
4Jamini Roy Untitled (Seated Woman)4,6467,7436,504-1640
5Jamini Roy Untitled (Cats with Prawn)6,1959,29210,0668.362.5
6Jamini Roy Untitled (Dancing Gopi)9,29212,38913,1646.341.7
7Jamini Roy Untitled (Peacock)9,29212,3898,518-31.2-8.3
8Bhupen Khakhar Untitled1,5494,6462,478-46.760
9Nalini Malani 1. Woman Destroyed, 2. Adolescent Girl2,3233,0973,8722566.7
10Francis Newton Souza 1. Untitled (Christ with Disciples), 2. Untitled (Head)3,0974,6463,872-16.725
11Francis Newton Souza Untitled (Ezra Pound)3,0974,6464,646050
12Francis Newton Souza Untitled (Head)2,3234,646Not SoldNot SoldNot Sold
13Syed Haider Raza Cotton Bailing9,29212,3898,518-31.2-8.3
14Francis Newton Souza (Untitled) Still Life12,38918,58411,615-37.5-6.2
15J. Sultan Ali Bindu4,6467,7434,336-44-6.7
16Shiavax Chavda Evening4,6467,7435,885-2426.7
18Maqbool Fida Husain Untitled (Self Portrait)61,94792,92169,691-2512.5
19Maqbool Fida Husain Untitled (Woodcut Toy)15,48718,58417,035-8.310
20Maqbool Fida Husain Untitled (Horse)61,94792,92158,850-36.7-5
21Krishen Khanna Untitled (Female Figure)23,23030,974Not SoldNot SoldNot Sold
24K.G. Subramanyan Couple on Terrace6,1959,292Not SoldNot SoldNot Sold
25K.G. Subramanyan Polyptich VI1,5492,323Not SoldNot SoldNot Sold
26K.G. Subramanyan Plantation6,1959,2928,518-8.337.5
27K.G. Subramanyan Water Garden6,1959,2926,504-305
28Vasudeo S. Gaitonde Composition30,97446,460185,842300500
29Vasudeo S. Gaitonde Composition No. 138,71754,204170,355214.3340
30Vasudeo S. Gaitonde Composition No. 238,71754,204170,355214.3340
31Vasudeo S. Gaitonde Composition No. 338,71754,204185,842242.9380
32Vasudeo S. Gaitonde Composition No. 430,97446,460185,842300500
33Vasudeo S. Gaitonde Composition No. 530,97446,460201,328333.3550
34Abdur Rahman Chughtai Dancing Girl30,97446,46030,974-33.30
35Sadequain Untitled (Self Portrait)10,84113,93838,717177.8257.1
36Ustad Allah Bux Maharani23,23030,97421,682-30-6.7
37Ustad Allah Bux Sohni23,23030,97434,0711046.7
38Zainul Abedin Untitled9,29212,38927,876125200
39Shakir Ali Untitled (Birds)7,74310,84165,045500740
40Jamil Naqsh Woman with DoveWoman with Dove15,48723,23021,682-6.740
41Ismail Gulgee Untitled (Gold Abstract)12,38915,48721,6824075
42Ismail Gulgee Untitled (Nukta)6,1959,2929,292050
43Anwar Jalal Shemza The Gate2,3233,8726,50468180
44Hasnat Mehmood Cut Along The White Line3,0974,6463,407-26.710
45Imran Qureshi Together9,29212,38923,23087.5150
46Mohammad Ali Talpur Leeka6,1959,2926,504-305
47Rashid Rana Offshore Accounts - 146,46077,43446,460-400
TOTAL:693,0341,012,8321,726,62470.5149.1
TOTAL (Sold lots):659,737965,5971,726,62478.8161.7

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Featured Images:

Ismail Gulgee – Untitled (Lot 41)

Francis Newton Souza – Untitled (Lot 10)

Image in Slider:

Shiavax Chavda  – Evening (Lot 16)

All Images courtesy of Bonhams.