Art works by noted artists Ram Kumar and SH Raza fetched over Rs 3 crore each as the OSIANs' fourth 'Art, Book & Cinema' (ABC) Series Auction registered Rs 23.10 crore sales.
Hundred and 96 per cent sale was recorded in the books and film memorabilia section respectively at the auction, held in the Capital city last night. In the Art Section, Ram Kumar's 'Sisters' and an Untitled work by SH Raza crossed Rs 3 crore mark, an indicator of sustained interest in the art market.
Of the 199 lots auctioned, 156 lots were sold, thus registering a total sale of 78 per cent. While the Average Lot Price registered for the Art Section was Rs 24.76 lakh, the Average Lot Price of the Book Section was Rs 3.5 lakh.
All 23 lots of the books were sold, with bidders fighting hard to acquire the lots. The film memorabilia section included fascinating vintage posters and 44 of the 46 lots were sold and a record was set for the posters, with the Average Lot Price being Rs 58,282 (from less than Rs 10,000 in 2005).
The Average Lot Price of the ABC Auction is Rs. 14.81 lakh. Several records were created for artists such as Qamrool Hassan, Amrut Patel, Serbjeet Singh, Shankar Palsikar among others.
Significant and high quality works of the most reputed artists like Ram Kumar, M F Husain, S H Raza, and Atul Dodiya drew the collector's attention and were much sought after. The works by Sultan Ali were much appreciated and have reached a new threshold.
The auction presented a comprehensive collection of Indian Modern and Contemporary Art, Books and Film Memorabilia. The art, book and film memorabilia sections witnessed a discernable response, registering a sale of 68, 100 and 96 per cent respectively.
In the books section, two sets of books carrying Sadequain's works were sold for an astounding 28.80 lakh. A Russian release poster of Kabuliwala fetched Rs 2.28 lakh.
Said Mr Neville Tuli, Founder Chairman, Osian's, "the markets for art, books and film memorabilia are holding their own very well amid these times of turmoil and volatility. The major financial institutions of the world are now firmly convinced that art will be a significant part of all credible asset portfolios.
It is in historical uncertain periods such as these that clear re-examination makes sense. The collector base is rapidly increasing and the awareness is growing exponentially across sections of the population."
Hundred and 96 per cent sale was recorded in the books and film memorabilia section respectively at the auction, held in the Capital city last night. In the Art Section, Ram Kumar's 'Sisters' and an Untitled work by SH Raza crossed Rs 3 crore mark, an indicator of sustained interest in the art market.
Of the 199 lots auctioned, 156 lots were sold, thus registering a total sale of 78 per cent. While the Average Lot Price registered for the Art Section was Rs 24.76 lakh, the Average Lot Price of the Book Section was Rs 3.5 lakh.
All 23 lots of the books were sold, with bidders fighting hard to acquire the lots. The film memorabilia section included fascinating vintage posters and 44 of the 46 lots were sold and a record was set for the posters, with the Average Lot Price being Rs 58,282 (from less than Rs 10,000 in 2005).
The Average Lot Price of the ABC Auction is Rs. 14.81 lakh. Several records were created for artists such as Qamrool Hassan, Amrut Patel, Serbjeet Singh, Shankar Palsikar among others.
Significant and high quality works of the most reputed artists like Ram Kumar, M F Husain, S H Raza, and Atul Dodiya drew the collector's attention and were much sought after. The works by Sultan Ali were much appreciated and have reached a new threshold.
The auction presented a comprehensive collection of Indian Modern and Contemporary Art, Books and Film Memorabilia. The art, book and film memorabilia sections witnessed a discernable response, registering a sale of 68, 100 and 96 per cent respectively.
In the books section, two sets of books carrying Sadequain's works were sold for an astounding 28.80 lakh. A Russian release poster of Kabuliwala fetched Rs 2.28 lakh.
Said Mr Neville Tuli, Founder Chairman, Osian's, "the markets for art, books and film memorabilia are holding their own very well amid these times of turmoil and volatility. The major financial institutions of the world are now firmly convinced that art will be a significant part of all credible asset portfolios.
It is in historical uncertain periods such as these that clear re-examination makes sense. The collector base is rapidly increasing and the awareness is growing exponentially across sections of the population."
