Paintings from India Fetch $3.7 Million in New York

Auction houses have confirmed that paintings by one of India's most important modern artists which went under the hammer in New York fetched over $3.7 million.

Three untitled oils on canvas by pioneering Indian abstract artist Vasudeo Santu Gaitonde, who in 1964 based himself in New York, were by Christie's and Bonhams.

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The Bonhams canvases, signed and dated 1961 and 1963, came from the artist's "non-objective" series, and fetched $1.08 million and $1.68 million respectively, Bonhams told AFP.

Both sold for significantly more than their pre-auction upper estimates, and in the case of the 1961 canvas more than double.

The auction house did not identify the buyers further than describing them as international.

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Christie's sold a 1971 "Untitled" in moss green for $965,000, which it said showcases the "painter, philosopher and alchemist at the zenith of his career."

The auction house said it was bought by an Asian private buyer.

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Experts say Gaitonde, who has been compared to Mark Rothko at his best, is poised to join the international modern art canon, in the robust, emerging market in modern Indian art.

The Guggenheim in New York on October 24 opens the first museum exhibition dedicated to the famously reclusive artist, and Gaitonde work has recently set records in the Asian art world.

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In 2012 Christie's set a world record for a modern Indian painting by selling a canvas for $3.79 million. In March, Sotheby's sold another Gaitonde for $2.5 million.

Born in Nagpur, India in 1924, Gaitonde was inspired early on by Swiss artist Paul Klee, then turned towards abstraction and cultivated a lifelong interest in Zen Buddhism.

He studied in Bombay and in 1964 lived at New York's Chelsea Hotel, then a cultural hub that housed Bob Dylan, Arthur Miller and Leonard Cohen.

The last decade has seen an astonishing explosion in the global market for Asian art, fueled by new wealth in the region, particularly in China.

Source-AFP