Osian's art auction fetches Rs 32 cr

Mumbai, Jan 21 (UNI) Osian's 'Indian Modern and Contemporary Art' auction held here on January 19 registered sales of Rs 32.18 crore, with an average lot price of Rs 32.83 lakh and the top five crossing Rs two crore.

Jagdish Swaminathan's ''Perception XV'' and S H Raza's ''Encounter'' went under the hammer at Rs 3.12 crore each, the highest price at the auction. Other artists like Tyeb Mehta, F N Souza and M F Hussain also crossed the Rs two crore mark.

The works auctioned were from top collections like the Dr Suhridchandra Collection and Mukund and Neerja Lath Collections.

''Given the greater institutional involvement, the nature of the homework and knowledge base of the participants was much stronger this time. We expect a much more solid base for a global expansion of Indian talent and creativity,'' Osian Founder and Chairman Neville Tulli said.

UNI ZC NM SP RAI1854