Auction Picks V: Bottoms up

All else being equal, the proportion of lots unsold at auctions is inversely related to the market growth rate so it is not surprising to see, as in the accompanying graph that the percentage of lots unsold has steady declined from over 30% in 2003 to below 10% in 2006. There can only be two reasons for this. Either the quality of lots is going up or the buyers are becoming less discerning. I suspect it’s a little bit of both.


Now, it is only reasonable to expect a small proportion of painting to be of passable quality and this gigantic sale is no exception. On last count I encountered about 30 duds that managed to find its way into the auction catalogues, which is really not too many considering there are over 600 lots on offer.

So what qualifies as a dud? Now that a million dollar question for which there is no one right answer. It is ultimately a matter of taste and personal assessment of the price-value-quality equation of a given picture, its relative weightage against the artist known body of work and to a lesser degree against the artists peer group. The price, provenance, condition are all additional factors that aid in the decision making – and finally, it all happens at the blink of an eye

With that here is my top 5 or should I say bottom 5 lots that


FN SOUZA (lo. 40, Bonhams)
1958. Portrait of a Man

Est. $228,000~ 285,000

Souza rarely went wrong in the 50's but this is one is a disaster.




TYEB MEHTA (lo. 56, Sothebys)
Seated Figure
$250,000~$350,000

This series of works simply fail to excite or inspire yet there are deep pocketed buyers who will pay top dollars for them!



FN SOUZA (lo. 54, Sothebys)
1961, Untitled


Technically not a terrible work but tepid scenery not worth spending looking at. There are many better candidates in the $200,000~$300,000 price bracket so hang on to your paddles


N.S. BENDRE (lo. 5, Osians)
Flower

Est. $80,000~ $100,000







An uncharacteristic picture by the late master that looks more like an overexposed photograph of flowers in a field.



B. PRABHA (lo. 30, Bonhams)
Waiting

Est. $38,000~57,000

This picture is simply too green, looks too fresh and almost too amateurish...did I mention green!