Princely sums for Bengal art

KOLKATA: Artists from Bengal, who were seen to be underpriced for quite some time, have started picking up at auctions. The demand for Bengal art from the collectors’ end is clearly evident in the prices that are being coughed up for the pieces. A look at the results in the current auction circuit shows that the top Bengal artists are fetching double the levels of the lower presale estimate.

“A 12 by 10.5 inches KG Subramanyan oil-on-board estimated between Rs 4 lakh and Rs 5 lakh has sold for Rs 12 lakh. Another work by Subramanyan, an acrylic and gouache on paper measuring 29.5 inches by 22 inches which was estimated at Rs 10-12 lakh was picked up for Rs 32 lakh,” an art market source told ET.

In tandem, a Ganesh Haloi gouache on paper pasted on board which saw an estimate of Rs 4-5 lakh went for Rs 20 lakh. Bikash Bhattacharjee left his mark too. A 42 by 40 inches Bikash estimated in the range of Rs 25.8 lakh to Rs 30.10 lakh was acquired by buyers for Rs 60 lakh which is double the estimate.

Continuing the Bengal story, a small Jogen Chowdhury’s ink and pastel on paper pasted on board sized 14 by 11 inches and sporting an estimate of Rs 20-25 lakh was lapped up for Rs 33.5 lakh. In the same breath, a Jogen Chowdhury mixed media on paper with a size of 11.5 by 17.5 inches estimated between Rs 18 lakh and Rs 22 lakh is finding buyers at Rs 36 lakh.

A Ganesh Pyne mixed media jotting on paper has sold for double the estimate. Reflecting an estimate of Rs 2-2.5 lakh and measuring 10.5 by 8.5 inches, the work won a final bid of Rs 4.4 lakh.

A small Shakti Burman oil on canvas with a size of just 9 by 7 inches and estimated at Rs 2.5 lakh to Rs 3 lakh sold for a whopping Rs 20 lakh. “This is a record of sorts for a painting of this dimension,” the source said. Veteran painter Paritosh Sen also underscored this surge in demand for Bengal artists.

An acrylic on paperboard by him estimated at Rs 3-4 lakh was sold for Rs 8.4 lakh. Simultaneously, a largish acrylic on canvas work by him measuring 59.5 by 53.5 inches with an estimate of Rs 15-18 lakh, sold for Rs 31.5 lakh, which is double the lower estimate.

Two Meera Mukherjee sculptures also swung hefty sums. While a bronze estimated at Rs 6.45-8.6 lakh sold for Rs 34 lakh, another valued at Rs 8-9 lakh was bought out for Rs 21 lakh.

“Investors are visibly turning their sights also on Bengal art which is still affordable. It is likely other underpriced artists will also trace the upward graph. One feels it’s an opportune moment to lap up some more of these artists before they go beyond reach,” the source said.