Christie’s debut auction in India rakes in $15 mln

London – The first-ever auction held by the global auction house Christie’s in Mumbai, India, managed to rake in 15 million dollars, which is double the pre-sale expectations.

Abstract painter Vasudeo A Gaitonde’s mustard-hued oil on canvas painting, which had gone under the hammer for 3.7 million dollars, was the top seller at the auction, followed by Tyeb Mehta’s painting of Hindu demon-king ‘Mahisasura’ that sold for 3.1 million dollars, the BBC reported.

The auction house sold 83 art works by famous artists, including Maqbool Fida Husain, Ram Kumar, Jamini Roy and SH Raza, Rabindranath Tagore, Amrita Sher-Gil and Nandalal Bose.

Hugo Weihe, Christie’s international director of Asian art, said that the result of the sale was beyond their wildest dreams and proof that the market is discerning and understanding of quality.