On the evening of 11 December in Mumbai, Christie’s second auction in India totaled INR75,27,45,000 / $12,092,289 selling 90% by lot and 97% by value. This is the highest total for any auction of modern and contemporary Indian Art in 2014. Christie’s welcomed a multitude of new clients both online and in the room, an indication of their continuing success in India following a decade of market leadership in Indian Art through international sales held in New York, London and Mumbai. More than 70% of the lots sold above their high estimates.
Sonal Singh, Head of Department, at Christie's Mumbai said: “Tonight’s results are an indication of the strong level of interest from clients who wish to buy exceptional works. The auction was sold 97% by value, mirroring the results from our inaugural sale in India. Our cover lot, Tyeb Mehta’s (1925-2009) Untitled (Falling Bull) sold well above the estimate for INR 17.54 crores and the list of the top ten reflects the interest from clients for works by the modern masters. I was particularly delighted to see the interest in the Tagore pocket book, which sold for four times its pre-sale estimate, the highest price for a manuscript sold in India.”