Asia Week at Sotheby's
The Asia week series of auctions at Sotheby’s New York concluded today with the South Asian Art sale which made $7,547,250 to bring the overall total for the week to $27,649,251 well within the $ 21.9/31.2 million estimate. The sales stated on Tuesday with the Joe Grimberg Collection of Chinese Snuff Bottles which brought $4,931,626 and was 83% sold by lot. The Fine Chinese Ceramics and Works of Art sale the following day fetched $15,170,375 and South Asian Art today totaled $7,547,250 and was $72% sold by lot.
Commenting on today’s South Asian Art result Zara Porter Hill, International Head of Indian Art at Sotheby’s said: “The vibrancy of the Indian art market returned to Sotheby’s in this sale. Paintings from the 18th century to the latest contemporary art achieved exceptional prices with a number of artist records being set. The result far exceeded the low estimate and was a validation of our strategy. This focuses on carefully curated and strategically estimated high quality sales, and these have produced this year’s consistently strong sell through rates. Competitive international bidding resulted in more than half the sold lots achieving prices in excess of the high estimate. The highlight of the sale was undoubtedly the group of works by MF Husain which was led by Cinq Sens which sold for $782,500 exceeding the $500/700,000 estimate. The four records set today come on top of the three achieved earlier in the year to round off an exceptional year for the department.”
