Gaitonde's Painting No. 1 makes $1.1m at Sotheby's



2015-06-26 13:18:57

Gaitonde's Painting No. 1 makes $1.1m at Sotheby's

Vasudeo S Gaitonde's Painting No. 1 beat its estimate by 55% at the June 11 auction

Vasudeo S Gaitonde's (1924-2001) Painting No. 1 has provided the top lot at Sotheby's Modern and Contemporary South Asian Art in London.

The 1962 work sold for 698,500 ($1.1m) on June 11, trumping its 450,000 high estimate by 55.2% - just shy of the $1.3m artist record achieved by an untitled work at Christie's in 2006.

Gaitonde painting auction Gaitonde works are rare ensuring high demand from collectors

Abstract Indian artist Gaitonde produced very few works, ensuring those rare pieces that appear at auction are in great demand, especially those from the 1960s - widely deemed to be the height of his career.

The result adds to a strong year for Gaitonde. Another 1962 work sold for $965,000 at Sotheby's in March.

MF Husain's Jhoola was the second most valuable lot of the event, selling within estimate for 242,500 ($379,800).

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