Masterpieces By Vasudeo Gaitonde Sell For $ 3.75 Million In New York

NEW YORK: Masterpieces by one of India's most important modern artists Vasudeo S Gaitonde were sold for about $ 3.75 million at leading auction houses here, an affirmation of the strong and buoyant market for South Asian contemporary art.

A painting by Indian artist Vasudeo Gaitonde is seen on display at the Bonhams auction house in New York on September 15, 2014.

Bonhams, one of the world's largest auctioneers of fine art and antiques, said a 1961 'Untitled' oil on canvas by Gaitonde sold for $ 1.08 million while another 1963 'Untitled' painting by the artist sold for $ 1.68 million at an auction of Indian, Himalayan and Southeast Asian Art yesterday.

Leading auction house Christie's also offered for auction an 'Untitled' oil on canvas signed and dated 'V S Gaitonde 71' valued at $ 750,000- $ 900,000. The painting sold for $ 965,000.

Another painting 'Kaltura' by Gaitonde, valued at between $ 4,000- $ 6,000, sold for $ 15,000.

Deepanjana Klein, International Head of South Asian Modern and Contemporary Art at Christie's, said that the sale demonstrated international interest, with clients bidding aggressively for works across all mediums.

The "enthusiasm and energy.... affirmed this strong and buoyant market."

Among the paintings up for auction at the two houses were works by some of the greatest Indian artists including M F Hussain and Syed Haidar Raza.