At the Modern and Contemporary Indian Art sale held in New York on Wednesday, Indian Francis Newton Souza’s ‘Man and Woman’, 1954, realised 1,360,000 dollars - more than quadrupling its pre-sale estimate - and was bought by an Indian hedge fund manager, leading auctioneer Christie’s said.

“Reflecting back on our first sale of modern and contemporary Indian art in New York which took place in 2000 and realized 600,000 dollars, this event was a tremendous testimonial to the buoyancy and the energy of Indian art, its collectors and its supporters,” said Yamini Mehta, Head of Modern and Contemporary Indian Art, Christie’s.

“We are extremely excited that the artists and their collecting base have become an integral part of the international art market and with our presentation of modern and contemporary Indian art in our sales in New York, Hong Kong and Dubai, Christie’s continues to vigorously support this category,” she said.

Posted: 09|25|06 at 8:39 am. Filed under: Auction News.