FN Souza's rare gems steal the show at Christie's, netting $19.72 million
₹40 crore (including buyer's premium) setting a new global benchmark for the artist. The sale, coinciding with Souza’s 100th birth anniversary, sold 100% of the lots offered, surpassing the low estimates by a whopping 310%. Notably, the auction's success extended beyond Souza's iconic masterpiece, The Lovers.
The Christie’s auction, and Sotheby’s Hong Kong Spring Sales earlier this week, demonstrate the robust market for South Asian art, with collectors recognizing the immense talent from the region. "We are thrilled to have set a new record for FN Souza in this landmark sale that celebrated the 100th anniversary of his birth. The market for this artist and this category are stronger than ever, a testament to the brilliance of South Asia's artists," Nishad Avari, head of Indian art at the auction house, said.
Other notable deals at the Christie’s auction included Souza's Priest with Chalice fetching $3,922,000 and Gulammohammed Sheikh's Portrait of a Tree realizing $1,381,000—both exceeding the low estimates by a significant margin. Souza's Men in Boats fetched $693,000. An untitled piece by Manjit Bawa exceeded its low estimate, more than doubling its value to $693,000.
A third untitled work, Head of a Cardinal, by Souza netted $630,000. According to art critic Uma Nair, the exorbitant price fetched by Souza's artwork is primarily due to its rarity, besides its historical significance. Unlike many artworks that may have multiple similar pieces, this particular Souza is uncommon.
she added. "As time passes, the pool of rare artworks shrinks, making them even more desirable to collectors. This limited supply, in turn, drives up demand and consequently the price." According to Artprice.com, Souza, born in 1924, has had a
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