Art Radar Asia

Contemporary art trends and news from Asia and beyond

  • Photobucket
  • About Art Radar Asia

    Art Radar Asia News conducts original research and scans global news sources to bring you selected topical stories about the taste-changing, news-making and the up and coming in Asian contemporary art.
  • Advertisements

Posts Tagged ‘market watch’

Sotheby’s to hold first ever international auction house sale of calligraphy in Doha

Posted by artradar on July 28, 2010


ART MARKET ART AUCTIONS CALLIGRAPHY DOHA

Sotheby’s London recently announced it will hold the first ever international auction house sale dedicated solely to calligraphy in Doha, Qatar, at The Ritz-Carlton Doha hotel, on 15 December. The groundbreaking calligraphy auction Hurouf: The Art of the World will showcase various works ranging from very early Islamic calligraphies to a mix of modern and contemporary Arabic, Farsi and Ottoman Turkish works.

Highlights of the forthcoming auction will travel through the Gulf Region prior to sale, one of which being Ali Omar Ermes’ The Fourth Ode which has an estimated price ranging from USD250,000 to USD350,000.

Ali Omar Ermes's 'The Fourth Ode' (acrylic and ink on paper).
Ali Omar Ermes’s ‘The Fourth Ode’ (acrylic and ink on paper).

Calligraphy is an art form that has influenced the Doha art scene for many years, and Sotheby’s believes this sale represents the region’s past and present talents. Says Roberta Louckx, Sotheby’s Executive Vice President and Head of Sotheby’s in Qatar, in a the press release announcing the sale:

We are delighted to return to Doha later this year with an inaugural auction devoted to ‘calligraphy’, a theme that has inspired and informed the art of this rich and diverse culture throughout the ages – from the production of the first Kufic Qur’ans to the modern and contemporary artworks of Farhad Moshiri. Sotheby’s is strongly committed to the region, and we are extremely excited to present for sale, in Qatar, the creative endeavours of some of the region’s most talented artists, past and present.

According to the press release, the forthcoming calligraphy sale is built on the success of last year’s Doha sales. After opening an office in Doha in 2008, Sotheby’s held maiden sales in March last year during which an Indian carpet made of pearls and gems fetched USD5.5 million, although the Bloomberg article which reported on this sale also mentioned that the prices of the auctions were disappointing in general. As Dalya Islam, Director of Sotheby’s Middle East Arab & Iranian Art Department, states in the press release,

Last year at our Doha sales Sotheby’s achieved solid success for works by highly sought-after Arab artists such as Chafic Abboud, Nabil Nahas, Ayman Baalbaki, Yousef Ahmad and Ali Hassan. In order to build on this, we have decided to devote a sale to works of significant interest to the region, focusing on calligraphy. The Arabic script has stimulated artists for more than a millennium, and is still a highly regarded and revered art form that reflects the rich history of the region. The auction will emphasise the enduring legacy of Islamic art by tracing the development of calligraphy, with a focus on its contemporary manifestation.

CBKM/KN

Related Topics:  market watch – auctions, calligraphy, Middle Eastern artists

Related Posts:

Subscribe to Art Radar Asia for more auction and event news

Advertisements

Posted in Artist Nationality, Auctions, Business of art, Calligraphy, Market watch, Middle Eastern, Qatar, Styles, Words | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

Indian art market hits peak 2008 figures – modern art favoured

Posted by artradar on July 27, 2010


ART MARKET INDIAN ART MODERN ART AUCTIONS

For some time now, the Indian art market has been reviving after the post-2008 buying slump. New Delhi-based journalist John Elliott, who runs the current affairs blog Riding the Elephant, reports in a recent post that now it may well be on the first step towards similar pre-2008 peak figures. However, the artists raking in money this time around are not contemporary but modern Indian artists.

In June this year, Sotheby’s raised USD7.9m in a mostly Indian art sales. In the same month, Saffronart sold art worth USD6.7m, and together with a Christie’s two day sale of USD18.1m, Indian art sales for the month of June totaled a substantial USD32.7m.

Rabindranath Tagore. Portrait of a woman.

Rabindranath Tagore's 'Portrait of a Woman' sold for over USD461,000 at Sotheby's.

Elliott reports that ArtTactic, a London based art market analysis firm believes that average auction prices and volumes for modern Indian art are now back to levels seen at the market’s peak in June 2008. Anders Peterson, who runs the firm, adds that,

The return in the confidence for the Indian art market is at the high end of the market.

A significant change from the trends of 2008 is the consistent sales of established veteran artists of Indian modern art rather than contemporary artists. However, given the overall push in the performance of the market, contemporary sales have also picked up. ArtTactic reports that previously popular contemporary artists such as Subodh Gupta and Jitish Kallat are still lagging far below 2007-2008 prices.

Saffronart founder and owner Dinesh Vazirani agrees with ArtTactic’s line on modern art. He says,

Auction prices are reasonably close to their 2008 peak. Serious collectors are there and this is backed with confidence in the Indian economy and with people investing as a hedge against inflation.

But how much do these results tell us about trends in buying Indian art? Anders Peterson from ArtTactic believes that,

Auctions are now a filtered version of the reality in the art market. Lots that are likely to sell are works of high quality, rarity and outstanding provenance. Works that do not demonstrate these qualities are still selling at lower prices or not at all. Therefore the return in confidence is at the high end of the market.

SH Raza. Rajasthan.

SH Raza's 'Rajasthan'.

The highlight of the Sotheby‘s sale were the works of Indian modernist painter, poet, philosopher and Nobel Prize winner Rabindranath Tagore, while Saffronart relied on modern art veterans like S.H. Raza, who was part of the Bombay Progressive Artists’ Group and now lives in Paris. His wife, Janine Mongillat, died in April 2002.

AM/KN/KCE

Related Topics: Indian art, Bombay Progressive Artists’ Group, market watch- auctions

Related Posts:

Subscribe to Art Radar Asia for more art market analysis

Bookmark  and Share

Posted in Auctions, Business of art, Classic/Contemporary, Collectors, Indian, London, Market watch, Painting, Progressive Artists' Group | Tagged: , , , , , , , , , , , , , , , , , , , , , | 6 Comments »

Saffronart once again pioneers new technology within art industry

Posted by artradar on July 22, 2010


ART AUCTIONS NEW TECHNOLOGY MOBILE PHONES

Art Radar Asia has found a new tool available to collectors when bidding for artworks at auction – lots can now be won via mobile phone bids.

M. F. Husain, 'Kerala - V', serigraphy on paper. Taken from the Saffronart website.

M. F. Husain's 'Kerala - V'.

As reported on the Saffronart website, the online auctioneer concluded its most recent sale on 17 June, with ten lots won by the company’s new mobile application.

Ten lots were won via Saffronart’s new mobile application, which allows bidders to bid from Blackberrys and iPhones. Those lots totaled $934,272. M.F. Husain’s Untitled was the highest lot sold via mobile, making $235,750.

Saffronart, a specialist in Indian art, was founded in 2000 by art collectors Dinesh and Minal Vazirani. It is renowned for its innovative use of new technologies within the art industry; their online auction model was recently the subject of a case study at Harvard Business School. The company has galleries and offices in Mumbai, New York and London. This most recent online auction grossed $6.7 million.

KN

Related Topics: business of art, market watch – auctions, Indian artists

Related Posts:

Subscribe to Art Radar Asia for more on innovative technology use within the arts

Bookmark  and Share

Posted in Artist Nationality, Auctions, Business of art, Indian, Market watch | Tagged: , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »