23 Dec 2020: Amrita Sher-Gil's rare portrait auctioned for over Rs. 10 crore
Modern Indian painter Amrita Sher-Gil's rare portrait of her husband Victor Egan fetched a whopping Rs. 10.86 crore at AstaGuru's recent Modern Indian Art online sale, the auction house said in a statement.
Having witnessed impressive bidding, the artwork was eventually purchased by renowned art collector Manoj Israni.
It was the highest price achieved in the sale.
Fact: Sale proves modern Indian art's 'strong and stable demand'
"The results validate modern Indian art's strong, as well as stable demand and also establishes its huge potential since the lots presented achieved significant prices and witnessed competitive bidding, said Siddanth Shetty," VP Business Strategy & Operations, AstaGuru.
Details: The painting was a parting gift to Egan's family
AstaGuru said, "The portrait showcasing Egan, a Hungarian army doctor in his uniform, garnered noticeable traction since the theme intertwined with the artist's personal life. They shared a spiritual bond, which inspired her to capture his presence in glory."
The painting was a parting gift to Egan's family after the couple decided to shift base from Hungary to India (1939), and then Lahore (1941).
Details: Sher-Gil's proficiency as a portraiture artist
The rare artwork without doubt showcases her proficiency as a portraiture artist, and elucidates Sher-Gil's academic training, AstaGuru noted.
Comprising four canvases, the magnificent artwork expands up to a total of 23.5 feet.
The second highest hammer price was Rs. 4.34 crore for an untitled artwork by Ram Kumar. The auction achieved a total sales value of Rs. 59.86 crore.
Fact: SH Raza's work became the third most valuable sale
SH Raza's Sanshari, an acrylic on canvas, created in 1994 was the third most valuable sale at Rs. 4.19 crore. The auction also featured works by artists like Jehangir Sabavala, Prabhakar Barwe, FN Souza, and Tyeb Mehta.