Showing posts with label Saffronart. Show all posts
Showing posts with label Saffronart. Show all posts

Monday, 28 September 2015

Are Souza’s prices being buoyed?

'Birth' by F N Souza that sold at $4.1 million at Christies

An overdose of Agatha Christie novels coupled with an unabashed admiration for Sherlock Holmes has rendered me incorrigibly inclined towards investigation especially when clues are falling like showers of meteors. It is not shrewish suspiciousness but a serious desire to “get to the bottom of it” usually for my own understanding. It has almost become second nature to add up clues to make the larger picture and being proven correct too often has made me more convinced about its veracity. This twitchy nose for news in years of working in journalism, exploring dimensions of the art world has not gone waste: After all, one can figure out whether the rice is cooked by the proverbial single grain of rice.
The reason of these self-congratulatory musings is the recent spate of developments in the art world that has catapulted Francis Newton Souza to center stage in a far bigger way than ever before. It is not as if the cartels that control art have suddenly awoken to the fact he was part of the Progressive Group or that his lines have suddenly become more expressive. The very same art world that shunned his rather explicit nudes as repulsive and obscene is now running after his works with bushels of bucks to grab those same nudes. And interestingly it is not new collectors who are acquiring them, but senior and older investors who have seen 
Souzas floating around for a while. So it makes me wonder if investors have acquired a big cache of his works and want to prop up his prices. 

My Sherlock Holmes brain is twitching away for there seems to be an almost orchestrated attempt to buoy up his prices especially in the international arena. Actually it is about time he got his share in the sun, shunned as a pervert for his nudes in his lifetime. I remember in the 90s he had come to meet me in my office with his then muse and companion Shrimati Lal. His cap, smile and intense eyes are vivid in my mind still. 
At the recent Christie’s New York auction Souza sold for a mind boggling $ 4.1 million bought by the Delhi-based Kiran Nadar Museum that is an amazing piece where a woman in labour is seen delivering a child with a still life on a window sill and through the window a landscape can be seen. 
At the Saffronart auction in New Delhi too, the top lot was Souza’s Man and Woman Laughing (1957) that sold for Rs 16,84,00,000 (US$ 2,590,769) breaking all previous records for the artist at auction. Formerly from the collection of Harold Kovner, Souza’s most important patron, it belongs to a particularly vital period of the artist’s career. 
Kovner discovered Souza’s work in 1956 and financially supported the artist to promote his works. The duration of this patronage, which lasted four years, was instrumental in allowing Souza more freedom to paint, and achieve greater creative success than ever before. As a strong modernist Souza’s early work made an impact both in India and abroad. His strong, bold lines delineated the head in a distinctive way where it was virtually re-invented the circles, hatchings and crosses. In later years his forms retained their plasticity but became less inventive.
The other favourites at the auction remained the evergreen stable buys M.F. Husain and Tyeb Mehta. S.H. Raza’s market seems to be looking up too, after a slump. 
It is auction time again in Delhi with the Artdeal coming up with its autumn auction ‘Framed Sentiment’. This time the most promising attraction is a ceramic bowl by Pablo Picasso, a medium he began experimenting with in 1946 after visiting the Madoura pottery workshop in Vallauris. There are drawings and paintings by modern masters like F.N. Souza, M.F. Husain, S.H. Raza, Ramkumar, Krishen Khanna. The Souza work is a passionately created canvas that emulates a raw energy with its powerful form, a remarkable work of the artist. The auction also boasts of unusual works by celebrated Bengal Masters like some early works by Jamini Roy and letters by Nandalal Bose. 
This time Rajasthani miniatures that are hard to come by will also go under the hammer. These belong to the known schools of miniature art in India such as Nathdwara, Jaipur and Jodhpur, among others. There is one with a beautiful depiction of the battle of Kurukshetra in Jodhpur style; the gold still lustrous despite its age. Another Mewar-style miniature depicting a wedding scene with text describing it is an exemplary artwork of the time. 
For me, only those pieces that are important works from the point of the artists’ journey or those that have an artistic/historic importance or are one of a kind deserve to be part of the auction circuit and not just any work of any artist. And auctions cannot be used as watermarks to decide/position prices. Hope investors and buyers are listening.

Thursday, 30 April 2015

The 5 biggest unresolved Indian art scams of the decade

Image Courtesy: Economic Times Newspaper

2006: Christies & their partner Vadehra Art Gallery offer fake works at auction
On 30th March 2006, Christies, in consultation with its Indian partner Vadehra Art Gallery of Delhi, withdrew as many as six lots from its SALE 1762 of Modern & Contemporary Indian Art in New York. No explanation whatsoever is available in the public domain explaining why those lots had been published in the catalogue in the first place, thus establishing that an auction house just by virtue of being one of the oldest or largest ones is not necessarily the most reliable ones when it comes to distinguishing between counterfeits and original works. 

As per a report in the Hindustan Times the works, that included two watercolours by MF Husain, three works by FN Souza and a tempera by Ganesh Pyne, also had dubious provenance.

In the past also Christies have been caught in similar controversies –
1998 - two of Ajoy Ghose's award winning Chaitanya paintings were listed in Christies catalogue as Nandalal Bose's. Ghose's signature had been replaced with a scrawl that read Nando. Their sale, at Rs 3.64 lakh each, was revoked later.
Source: Hall of fakes – India Today, 21 Feb 2000 
2001 - a Manjit Bawa was withdrawn from the Christies auction after the artist informed the auction house that he had nothing to do with the painting and that his signature appearing at the right-hand bottom corner was forged.
Source:
1. Mystery of the fake Bawa – Tribune, 14 Jan 2001 

2. Two Coats of Paint: Welcome to the dark world of art fakes – Indian Express, 6 July 2014 

2009: Saffronart and Osians under Income Tax Dept scanner

Rigging Auctions?
An investigation into the business practices of Osians and Saffronart had revealed several irregularities in their account books, including a possible attempt to rig the price of artworks and dupe investors, according to an income-tax (I-T) department official involved in the probe.
Saffronart was also charged for carrying out numerous cash transactions.
While Neville Tuli and the already beleaguered auction house Osians have been declared defaulters as recently as 11th March 2015 by IDBI bank, it would be in the interest of the art collectors if Saffronart can throw light on what was the final outcome of these investigations.

Inspite these investigations Saffronart continues to offer works at such low prices as evident from its upcoming auction of Modern & Contemporary Art on 12-13 May 2015  wherein a work by S H Raza (lot 21, titled ATMARAS) estimated at Rs 80 Lakhs - Rs 1 crore is available for an unseemly low starting bid of Rs 1,550 – Are there actually such gullible sellers who would be willing to even consider giving away such works at such prices or is it not a a way of misleading prospective bidders? Therefore, it is not a surprise that the IT department accused Saffronart of rigging the price of artworks during its raid in 2009.

Related Links:


2009: Fake Raza's at Dhoomimal Art Gallery
The discovery of Raza fakes in January 2009 at Dhoomimal Art Gallery in Delhi, at a show the artist himself visited, sent the art fraternity in a shock as the event was hosted by his nephew and at a gallery with whom he has had a relationship for several years.
The following quote from Dr. Alka Raghuvanshi in an article in The Asian Age on 9th April 2015 sums up the fact that this controversy has still not died down "A case in point being S.H. Raza’s show at Dhoomimal’s where he had declared that each one of those works hanging there were fake. Why would an old gallery with a reputation to protect hold a show of fakes and invite the artist himself to inaugurate the show is an unresolved point. Incidentally his market crashed soon after when galleries were approached to buy back stuff painted by him".
An important point to reiterate here is that family members cannot and should not be thought of as qualified authenticators of their kin's art. The more worrying aspect is that the gallery owners authenticated the work solely basis the provenance and not on the merits of the work when many experts claimed that the works were not even well rendered fakes. However, it would be even more disturbing if the following information published in the Economic Times on 30 Nov 2014 is to be believed “Art industry insiders suggest that Raza, who will turn 93 in February, is in indifferent health and a lot of assistants who are artists are working in his studio to produce paintings that should not be signed by Raza as his own”.

Related Links:

2011: Tagore - Fake or Not?
An entire exhibition of Tagore paintings by the Government College of Art was alleged to be fake. The principal of the college Dipali Bhattacharya was suspended a month before her retirement in the wake of the controversy and the matter landed up with the State Crime Investigation Department and the courts. The Archaeological Survey of India (ASI) was asked to comment on the authenticity of the paintings and they filed a report stating that these were not original Tagores.  (Source: 30 Nov 2014, Economic Times)
However, the Government Art College, stood its ground. In a statement, Dipali Bhattacharya wrote: “On behalf of the organising committee of the Tagore Show, I can only express my shock, disappointment and disgust at such an irresponsible statement made by someone [referring to Pranabranjan Roy] who has neither cared to personally inspect the exhibits nor cared to put them through any established method to verify their authenticity. The Government College of Art and Craft is proud to host the Tagore Show and dismisses such comments with the contempt that they deserve.” (Source: The Telegraph, 2 March 2011)
As per an article published in Economic Times on 30 Nov 2014, the matter is still in the courts. It remains to be seen whether R. Siva Kumar and Susobhan Adhikary, teachers at Kala Bhavan Viswa-Bharati University and also the whistleblowers of this matter, are found guilty of conspiracy or is it Dipali Bhattacharya who is to be held accountable.

2014: Sex, Lies and Art Theft: How Sheetal faked a Rs 100 crore heist
This is easily as big a counterfeit controversy as others and came to light after approximately 2.5 years of botched up conspiracy theories and half-baked investigations. The works forged were by Manjit Bawa, V S Gaitonde and others and had been restored for Sheetal Mafatlal by Pundoles Art Gallery & Auction House. Like a bollywood potboiler this tale of deceit involved many bizarre twists and unbelievable turns. 



Thursday, 2 April 2015

Saffronart to conduct its first live auction in Bangalore


Email from Saffronart:
We are expanding base with our inaugural auction in Bangalore, one of India’s largest cosmopolitan cities. Unlike our previous auctions, The Discerning Eye: Important Furniture, Jewellery, and Works of Art one features a mix of Modern, Contemporary, folk and tribal art, vintage interiors and mid-century furniture, and jewellery inspired by Indian and international designs. 


Keep an eye out for artists such as Jangarh Singh and Baua Devi, famed for their intricate works resonating with the traditions of India's traditional arts; works by Modernists including M. F. Husain, S. H. Raza, F. N. Souza and Jogen Chowdhury; furniture inspired by 19th and 20th century designs and the clean, functional forms of post-war Europe; jewellery set with pearls, rubies, emeralds, tanzanite and diamonds, and much more.

Viewings and Live Auction:
Wednesday, April 15, 2015 
Viewing: 11:00 am till auction start
Registration: 6:30 p.m. onwards
Auction: 7:30 p.m. onwards

ABOUT SAFFRONART:
A global company with deep Indian roots, Saffronart was founded in 2000 on the strength of a private passion. Remaining committed to this passion and personal values, today Saffronart is a strong and successful international auction house that both embraces and drives change.

A platform for fine art and collectibles with over fourteen years of experience in auctions, Saffronart is committed to serving the growing community of Indian collectors, while also creating a cultural bridge to India for both the global Indian diaspora and the international community at large. Saffronart has set several global benchmarks for online auctions and is the subject of a case study at Harvard Business School.

Saffronart has held several highly successful online and live auctions, accompanied by physical catalogues and preview events in cities like Mumbai, New Delhi, New York, London, Singapore and Hong Kong. These auctions allow bidders around the world to participate simultaneously in exciting sales. In October 2008, Saffronart extended its unique online auction platform beyond fine-art to host its inaugural sale of Fine Jewels and Watches, adding a new dimension to its market presence. Since December 2011, Saffronart has offered Indian antiquities including sculptures, artefacts and miniature paintings on its auction platform, in auctions conducted by Collectibles Antiques India Private Limited. In 2012, Saffronart held its inaugural auctions of Modern & Impressionist Art, Carpets & Rugs, Folk & Tribal Art, Art Deco and the Art of Pakistan, followed by its first Travel & Leisure auction in 2013.