Christies Dubai Sale: Preview and Top Lots

The Christies auction the following day in Dubai is a first for the auction house in this part of the world and they are clearly looking to establish a foothold in a region that is growing in stature and influence. There are a total of 129 lots on offer with nearly 20 countries represented including unlikely candidates such as Tunisia, Libya as well as a few pictures from Italy and the United States thrown into the mix, making it a truly International Modern and Contemporary Art sale and is representative of the diverse buying appetite of the region.

The overall selection of pictures in the Indian section (lot 49 thru lot 93) is not as strong as one usually expects from this juggernaut with many passable pictures by established names such as Husain and Raza finding their way into this sale

Making a second appearance is a 1962 untitled head by Souza (lot 60) that remained unsold at Christies in the September 2004 New York auction when the market was nowhere as heated as it is today but it should do quite well in this market climate and the consignor will not be disappointed this time around.

In this sale, there are a total of 14 lots estimated above the luminous $100,000 mark with these making the cut to my top five



FN Souza (L.65)
1958, Monsoon

Est. $180,000-$220,000

Anything under $315,000 on the hammer is cheap for this work










Collectors Mind: The indefinable art of Souza comes right through with this picture that adorns the back cover of the Christies catalogue. The bright red houses in a monsoon night lend a rather curious and mysterious quality to the work. Pictures of this period and class don’t come by every day so keep the paddles well oiled for this one



Ram Kumar (L.54)
1960, Landscape

Est. $100,000-$150,000

This should hammer down at or close to $275,000

Collectors Mind: The sensitivity of the artist is adequately represented in this early landscape with a pleasing yet identifiable palate. His market is hot and this work should not disappoint



SH Raza (L.57)
1957, Ciel Bleu

Est. $100,000-$150,000

Anything over $275,000 on the hammer would be excessive



Collectors Mind: Moderate craquelure will not deter Raza fans from going over the top for this pleasing landscape from the 50’s



Rameshwar Broota
(L.93)
1979, Numbers

Est. $80,000-$120,000

There is no saying what a Broota fan might pay for this one but my money is shy of $225,000 on the hammer








Collectors Mind: This work is not for the faint hearted but true connoisseurs will battle it out on the floor - and on the phone - to acquire this genius



Ganesh Pyne (L.63)
1980, The Wings

Est. $30,000-$50,000

Die hard collectors and savvy investors might just push this to the $100,000 mark

Collectors Mind: The Bengal master rarely goes wrong with tempra and this work is no exception. The market for Pyne has been quiet of late but this may well be the revival.

There are at least four pictures of signature artists with estimates greater than $100,000 which would have otherwise never found buyers but probably will in this buoyant market where top dollars are sometimes paid for bottom quality works. Lots 68, 76 and 83 (all later period Husain’s) as well as a 1990 goa landscape by Souza (lot 73) fall into this category.

The selection of pictures on offer combined with the aggressive estimates on some is suggestive of a stiffening market. Today’s buyers should take heart to know that even in these upbeat conditions there are not that many people willing to part with their best works. This speaks of the confidence in the future prices of Indian Contemporary Art. Happy bidding and see you at the auctions!

*Note
a) All figures are represented in US$ using conversion rate of 1 GPB = 1.8 USD
b) Images copyright Christies and original copyright holders

Disclaimer:
All opinions including estimated sale price are meant to serve as a point of reference only and the author is in no way responsible for any errors or actions that reader may take as a result of this posting