Competitive Bidding Drives Prices Past Estimates at Saffronart’s Autumn Online Auction

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NEW YORK, NY.- Saffronart, the world’s largest online fine-art auction house, concluded its Autumn Online Auction on September 9th, 2010 with more than half the lots selling above their higher estimate. The auction achieved a total of $6.4 million, reaffirming the strength of the Indian art market. The two-day auction of Modern and Contemporary Indian art was marked by top prices for several modernists. S.H. Raza garnered great interest with ‘Bhartiya Samaroh’ selling for $905,000. Competitive bidding saw Jogen Chowdhury’s ‘Couple I – Man and Woman’ selling for more than double its estimate at $354,583. The sale also witnessed strong prices for notable works such as the ‘Last Howl from the Cross’ by F.N. Souza which sold for $345,000 and M.F. Husain’s ‘Untitled’ work which sold for $287,500. Leading contemporary artist Subodh Gupta’s ‘Untitled’ work sol