Osian's new auction focuses on old masters
Frontline domestic auctioneer Osian’s is introducing a fresh auction brand in its menu. Dubbed the Masters Series, the sale is attempting to embrace a wider base of new and seasoned collectors.
By Ashoke Nag, TNN |
KOLKATA: Frontline domestic auctioneer Osian’s is introducing a fresh auction brand in its menu. Dubbed the Masters Series, the sale is attempting to embrace a wider base of new and seasoned collectors who will be given access to a range of high-quality modern and contemporary artists. The auction is being positioned as a small format one which is limited to around 46 lots sporting an average lot value of Rs 15-20 lakh. The total estimated value is also lower, at Rs 5.8-6 crore.
"This is the third series on our auction list. While the first to unfold was the Masterpieces and Museum Quality Series, the second off the block was the ABC Series. The Masters Series is focusing on works by senior artists who have given 30-35 years of creativity to the field. These artists have achieved historical significance and critical acclaim in varying degrees," Mr Neville Tuli, Osian’s chairman, told ET.
"Against this backdrop, a work of aesthetic quality will definitely hold its value over time. This series is aimed at providing the opportunity to new and seasoned collectors to access top quality works on a regular basis. Ideally, we will stage such an auction monthly from 2008," he said.
He went on to add that the auction is not only intended to throw open the doors to new collectors, but will infuse a greater historical structure in the collection building process. "The average value in the Masters Series is lower than the levels seen in the Masterpieces Series which sees an average price bracket of around Rs 45-55 lakh. That does not imply that the artists or the standard of works are any less. To begin with, we want to attract a larger mass of collectors. Secondly, since the market is far more mature now, one doesn’t need to push the values too much. They will find their own levels," Mr Tuli said.
A selection of the highlights will allow a peep into the picture on the estimates front. KH Ara’s The Temptation of Buddha from the early 1940s is placed in the band of Rs 40-50 lakh, Jogen Chowdhury’s Two Women, a 1994 work, is in the range of Rs 36-45 lakh and a 1986 Untitled by Satish Gujral is hovering at the level of Rs 32-40 lakh. In the same breath, K.K. Hebbar’s 1962 Untitled is hovering at Rs 24-30 lakh, Bikash Bhattacharya Rs 32-40 lakh, Reddeppa Naidu’s 14-set Shakuntala series Rs 50-62.5 lakh, A Thousand and One Desires by V Ramesh Rs 10-12.5 lakh, while B Vithal’s striking Nude from 1978 reflects an estimate of Rs 10-12.5 lakh.
"This is the third series on our auction list. While the first to unfold was the Masterpieces and Museum Quality Series, the second off the block was the ABC Series. The Masters Series is focusing on works by senior artists who have given 30-35 years of creativity to the field. These artists have achieved historical significance and critical acclaim in varying degrees," Mr Neville Tuli, Osian’s chairman, told ET.
"Against this backdrop, a work of aesthetic quality will definitely hold its value over time. This series is aimed at providing the opportunity to new and seasoned collectors to access top quality works on a regular basis. Ideally, we will stage such an auction monthly from 2008," he said.
He went on to add that the auction is not only intended to throw open the doors to new collectors, but will infuse a greater historical structure in the collection building process. "The average value in the Masters Series is lower than the levels seen in the Masterpieces Series which sees an average price bracket of around Rs 45-55 lakh. That does not imply that the artists or the standard of works are any less. To begin with, we want to attract a larger mass of collectors. Secondly, since the market is far more mature now, one doesn’t need to push the values too much. They will find their own levels," Mr Tuli said.
A selection of the highlights will allow a peep into the picture on the estimates front. KH Ara’s The Temptation of Buddha from the early 1940s is placed in the band of Rs 40-50 lakh, Jogen Chowdhury’s Two Women, a 1994 work, is in the range of Rs 36-45 lakh and a 1986 Untitled by Satish Gujral is hovering at the level of Rs 32-40 lakh. In the same breath, K.K. Hebbar’s 1962 Untitled is hovering at Rs 24-30 lakh, Bikash Bhattacharya Rs 32-40 lakh, Reddeppa Naidu’s 14-set Shakuntala series Rs 50-62.5 lakh, A Thousand and One Desires by V Ramesh Rs 10-12.5 lakh, while B Vithal’s striking Nude from 1978 reflects an estimate of Rs 10-12.5 lakh.
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