A painting by VS Gaitonde (1924–2001) sold for Rs 35.5 crore on September 17, 2020, at an evening sale by auction house Saffronart. The painting, an untitled green work from 1974, is now the second-highest selling Indian artwork. The first, also by Gaitonde, sold for Rs 36.8 crore earlier this month at an auction by Pundole’s. It’s important to note that among the ten most expensive Indian artworks, seven are by Gaitonde.
Reason for Gaitonde’s popularity Gaitonde had mastery over colour and technique, and there is hence a high market demand for his kind of artwork. Gaitonde was less prolific and created only a handful of carefully crafted works each year. Even today, only a finite number of works of his are available for circulation in the art market.
Gaitonde’s technique Gaitonde graduated from Sir JJ School of Art, Mumbai, in 1948, and became associated with the iconoclastic Progressive Artists’ Group. He followed abstract form of art, and called it “non–objective”. His main talent was to make pigment behave like light. So, his works have an inherent luminosity, remarkable for their translucence and texture.
Gaitonde’s artistic career went through different phases. In the 1960s, he had embraced Zen Buddhism, both in life and art. It was reflected in enigmatic patterns and calligraphic forms which appeared in his paintings during that time. By the end of the decade, Gaitonde had moved completely to vertical canvases, with complex textures achieved using just rollers and brushes. The two most expensive Indian artworks are from the 1970s, when Gaitonde’s works had achieved the meditative qualities they are famous for.
Indian and Internatioght-after Indian artists, with works that made their way into important collections, both Indian and international. However, it is doubtful if any of his works could sell for even up to a crore during his lifetime. The top-selling work came from the Glenbarra Art Museum in Japan. The second highest was from the private collection of Mumbai-based actor and aesthete Sabira Merchant.
Experts believe that the Indian art market, which is still in its infancy, will only grow in the coming years.
However, we are still way behind the kind of prices other Asian markets are able to achieve. For instance, in 2017, Chinese artist Qi Baishi joined the $100 million club when a set of his ink brush panels sold for $140.8 million.
According to art market intelligence firm, Artery India, though Gaitonde’s individual works command high prices, the collective sales figure for his work is lower than Husain’s. In a ‘power list’ of the last five years drawn up by Artery India, Raja Ravi Varma comes first, with just 15 works that have sold for a total of Rs 88 crore. In comparison, Gaitonde ranks second, having achieved a net sales figure of Rs 395.9 crore but with a sizeable 89 works. Experts believe that, in the near future, there is enough scope for new artists to surface in the top ten selling list.
Courtesy: The Indian Express, Sept 25, 2020