An untitled canvas by Manjit Bawa sold for Rs 1.7 crore at a recent online auction which apart from creating a world record for the late artist has also indicated a return of con dence in the Indian art market.
At its winter 2009 auction leading domestic auctioneer Sa ronart grossed a total of 20 crores by selling 78 of the 100 lots made available for bidding with 62percentoftheworksexceededtheirpre-saleestimates.
"A world record price in auction was achieved for artist Manjit Bawa's 'Untitled' canvas at Rs 1.7 crore against an upper estimate of Rs 90 lakh," reported the auction house.
13 December 2009
