Saffronart Sets World Records with Two White Glove Auctions

Saffronart’s recent auctions in New Delhi on September 14, 2024, achieved a remarkable milestone, not just in sales value but also in setting new world records for several prominent artists. These two back-to-back white-glove sales, the Evening Sale and the Francis Newton Souza Day Sale, saw 100% of the lots sold, garnering a cumulative total of INR 111.43 crores (USD 13.42 million), underscoring the growing enthusiasm and interest in Indian and Orientalist art.

The Evening Sale: Record-Breaking Masterpieces

The Evening Sale was led by the remarkable Hindu Temple, Bombay, circa 1884, by American Orientalist Edwin Lord Weeks, which fetched INR 24 crores (USD 2.89 million), setting a global auction record for the artist. The painting is a fine example of Weeks' meticulous draftsmanship, capturing the tropical atmosphere and temple architecture of Bombay with remarkable detail. This historic sale highlights the growing appreciation of Orientalist works and their ability to resonate with modern collectors.

Other standout works included Earthenware, 1959, by Jehangir Sabavala, which sold for INR 7.50 crores (USD 903,614), more than doubling its higher estimate. Sabavala’s work, inspired by a potters' colony in Bombay, reflects his distinctive Cubist-influenced style. S H Raza’s The Earth, 1986, sold for INR 5.04 crores (USD 607,229), showcasing the artist’s signature fusion of expressionism with geometric abstraction.

Ganesh Pyne’s rare sketchbooks were another highlight of the evening, with Untitled (Sketchbook), 1959, selling for INR 2.40 crores (USD 289,157) and Untitled (Indian Temples), 1961, going for INR 1.02 crores (USD 122,892), demonstrating strong interest in Pyne’s early works.

Francis Newton Souza Day Sale: A Celebration of an Icon

The Francis Newton Souza Day Sale, featuring 48 lots from a distinguished private collection, was a fitting tribute to the modernist giant, especially as his centenary is being celebrated this year. The leading lot, Untitled (Pieta), 1987, sold for INR 9 crores (USD 1.08 million), nearly double its higher estimate. This moving interpretation of the Pietà explores themes of motherhood and loss, with added poignancy as it was painted in the year of Souza’s own mother’s death.

Other notable sales included Untitled (Veiled Nude), 1964, which fetched INR 3.60 crores (USD 433,735), and Untitled (Head with Horns), 1966, which achieved INR 2.40 crores (USD 289,157). Both pieces exemplify Souza’s masterful handling of complex religious and cultural symbolism, combined with bold, innovative forms.

Setting New Benchmarks

Several artists set new global records at the auctions, including Jangarh Singh Shyam, Nirode Mazumdar, and Walter Langhammer. Shyam’s Untitled, 2001, sold for INR 1.44 crores (USD 173,494), and Mazumdar’s Devi and Oindri, circa late 1970s - early 1980s, surpassed expectations, selling for INR 26.40 lakhs (USD 31,807).

With enthusiastic participation from bidders worldwide, including in-person attendees, online, and mobile app users, these auctions once again highlight Saffronart’s ability to engage a global audience and drive robust demand for Indian art.

Saffronart’s Leading Role

Saffronart’s co-founder and CEO, Dinesh Vazirani, expressed his excitement about the success of the auctions, noting that “the sale of Hindu Temple, Bombay not only set a world record for Edwin Lord Weeks but also reaffirmed the growing global interest in Orientalist and Indian art.” He also emphasized the continued appeal of modern Indian artists like F N Souza, whose centenary year has heightened attention to his groundbreaking work.

As the leading auction house for Indian art, Saffronart’s latest auctions reaffirm its role in setting benchmarks, creating artist records, and showcasing the finest works of modern and contemporary Indian artists to collectors worldwide.