Sotheby's Auction Sets New Records for South Asian Art Sales

On March 17, 2025, Sotheby's New York hosted its "Modern & Contemporary South Asian Art" auction, achieving a total of $16.82 million and surpassing pre-sale estimates. The auction featured 67 works, with a 94% sell-through rate, underscoring the growing global interest in South Asian art.

The highlight of the auction was Jagdish Swaminathan's 1973 triptych, "Homage to Solzhenitsyn," which sold for $4.69 million, significantly exceeding its $1 million low estimate. This sale set a new auction record for Swaminathan, whose previous highest auction price was $312,000 in 2007.

Another notable sale was K.C.S. Paniker's "Christ Healing Leper; Monk" (1961), which sold for $127,000, vastly surpassing its $5,000 low estimate by 2,440%. Jehangir Sabavala's "The Journey of the Magi" (1963) was also among the notable sales, highlighting Sabavala's expert handling of color and light.

The auction also featured significant works by renowned artists such as Francis Newton Souza, Maqbool Fida Husain, Ganesh Pyne, George Keyt, and Zubeida Agha.

The success of this auction indicates a heightened appreciation for modern Indian artists. This trend is further evidenced by Christie's upcoming auction on March 23, 2025, featuring significant works from the South Asian subcontinent.

Sotheby's has a history of successful auctions in this category. For instance, in September 2024, their London auction achieved $15.29 million, with Sayed Haider Raza's "Terra Amata" (1984) selling for $3.38 million.

The success of this auction underscores the growing global interest and investment in South Asian art, highlighting its evolving significance in the international art market.