Indian art market is one of the most exciting we've seen in recent years: Christie’s CEO Cerutti
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Subscribe to enjoy similar stories. ‘The Lovers’, a Francis Newton Souza artwork that made headlines at an auction of South Asian Modern and Contemporary Art by Christie’s in New York in March, is one of the 10 most expensive paintings sold by the iconic British auction house this year.
In an apt tribute to the Indian modernist who would have celebrated his 100th birth anniversary this year, ‘The Lovers’, a visual representation of a tender moment between two lovers, fetched $4,890,000 ( ₹40 crore-plus, including buyer’s premium), a new record for the artist. Guillaume Cerutti, chief executive officer (CEO) of Christie’s, said the Indian art market is evolving rapidly, and the auction house has sharpened its focus on the South Asian nation.
Also read | Villa companies set to greet a happy holiday season on uptick in Christmas, New Year travel There has been a 64% increase in bidders from India between 2019 and 2023, reflecting a growing domestic interest and an influx of younger collectors, particularly millennials. International demand is also on the rise, with a 37% increase in participation from clients in the Americas.
Additionally, a small but growing number of Chinese and other Asian collectors are beginning to recognize the potential of Indian modern and contemporary art, he added. Christie’s said that the Indian, Himalayan and South-East Asian market has become the most important region for it in Asia after mainland China when it came to art sales and collection this year.
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