Sotheby’s to Launch Auctions in India

Leading international auction house Sotheby’s today announced plans to launch sales in India with ‘Boundless: Mumbai’ scheduled for December 2018. The sale will be held at the landmark venue, The Taj Mahal Palace Hotel in Mumbai.

Following the opening of the Mumbai office in September 2016, Sotheby’s affirms its commitment to South Asia by announcing sales and establishing Mumbai as a new selling location for Sotheby’s.

Jan Prasens, Sotheby’s Managing Director for Europe, Middle East, Russia and India: “In recent years, we have witnessed both the ever-growing presence of Indian collectors in Sotheby’s global auctions, and the development of an increasingly vibrant domestic Indian art market. Given these promising signs, and the projected economic growth for India in the future, it is the right time for Sotheby’s to further expand the services we offer our clients in the region, and to bring our auctions directly to the doorstep of the many collectors who live there.” 

Edward Gibbs, Sotheby’s Chairman of India and the Middle East, said: “Indian collectors have long been important participants in Sotheby’s auctions. Recently, however, we have seen exponential growth in their activity at Sotheby’s, not only in our sales of South Asian art, but also in our wider international auctions. This strong uptick is part of a global pattern of increased liquidity within the market but it is also reflective of the flourishing arts scene on the ground in India itself. These new auctions will provide collectors in India with fresh and exciting opportunities, not currently offered by any other auction house.” 

‘Boundless: Mumbai’ will include not only important works by South Asia’s greatest artists, but also artworks by western artists inspired and influenced by the art, culture, geography and people of South Asia. An exciting array of art sourced from collections across the sub-Continent and globally by a worldwide team of specialists, ‘Boundless: Mumbai’ will present an opportunity for young and seasoned collectors to acquire museum-quality works from a variety of categories such as Modern and Contemporary South Asian Art, Photography, Prints, and Design.

One of Tyeb Mehta’s most important works, Durga Mahisasura Mardini has been confirmed to lead the sale. This seminal painting was commissioned directly from the artist in 1993 and has remained in a private collection since, appearing on the market for the first time later this year. It is among the most valuable works of modern South Asian art ever to be offered at auction. Two out of the three highest prices for the artist have been set at auction within the last year, attesting to the strength of Tyeb Mehta’s market. His current auction record stands at US$3.6 million.