You could own a Husain or Raza for Rs 20,000!

You could own a Husain or Raza for Rs 20,000!

 

Over 90 lots of exclusive works of art by Indian Contemporary artists, and many masters including artworks by M.F.Husain, S.H.Raza, F.N.Souza, Ram Kumar, Anjolie Ela Menon, Shakti Burman, Krishen Khanna, Akbar Padamsee, Jogen Chowdhury, and numerous more are up for auction on astaguru.com, an online auction house set up in 2008 by the chairman of SAFSET Group Vickram Sethi. What is interesting is that the price of the same for these priceless works of arts starts at 20,000 INR with no reserve auction which means, you could get a S.H Raza or a Husain for 20,000 INR only.

Why works of art at Rs 20,000, that is no reserve auction? “We envisioned an online platform where art lovers and patrons alike could connect from all over the world to the Indian market place to bid for works at their given convenience. We started the “No Reserve” Auction to expand our horizons and target various segments of the society. There is a perception in the India market space that only sophisticated rich people purchase art, hence the auction starts at a minimum estimate of  20,000 INR,” elaborate Vickram Sethi and Tushar Sethi.

The Auction consists of The lots of this auction can be seen at astaguru.com, buyers who are interested in making a bid for the painting can fill up the registration form on AstaGuru website. In order to bid one can view the terms and condition of the auction house, register online and request the auction house to activate bidding access. Once the screening process has taken place and the account is activated, the bidder can bid online on the 15th and 16th of July 2014.

A viewing for the artworks will also be held at the Institute of Contemporary Indian Art at Kala Ghoda, Mumbai for those interested, the gallery will be functional from 10:30 am to 7 pm from Monday to Saturday. The auction starts on 15th July 10:30 am and shall be concluded on the 21th July at 7.30pm I.S.T. Closing time for specific lots are mentioned online. Interestingly, such auctions like the astaguru.com one could see a change in the better for the art market. Agrees Vickram Sethi, “the art market has seen an exponential increase over the past two decades. The contributory factor being is the rapid economic growth along with an increasing number of UHNI’s and HNI’s taking interest in cultural enrichment has ensured a need for acquiring art, which has shown a tremendous growth and potential of the market. Currently the market is valued at 1000 – 1400 cr, however, like any other industry, the art market is not immune to its macro environment and so it did see a dip in its performance during the 2008 – 09 economic meltdown; however this was temporary in nature and its slowly and steadily picking up again.”

Rajendra Ganotra is the Editor of Spicy Stars Mumbai

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