Tyeb Mehta’s Untitled (Diagonal); Oil on canvas; 1973; 70 x 60 inches
| Photo Credit: Special arrangement
The record-breaking sale of Indian modern artworks in recent years — given Amrita Sher-Gil’s The Story Teller (₹61.8 crore) in 2023 and MF Husain’s Gram Yatra (₹118 crore) this year — puts the country’s modern artists on a prominent spot in the global art market. That should be reason enough for you to check out AstaGuru Auction House’s Masters Legacy auction, which features nearly 72 (lots) masterpieces by 40 pioneering figures of the Modernist era such as Tyeb Mehta, FN Souza, SH Raza and MF Husain.
“The idea behind this auction was to spotlight the golden era of Indian modernism. We wanted to bring together works that not only represent technical brilliance but also mark significant turning points in each artist’s journey. These are not just artworks; they’re cultural milestones,” says Manoj Mansukhani, CMO, AstaGuru Auction House.
He points to a rare, large-format work from Tyeb Mehta’s game-changing Diagonal Series, when asked to highlight one of the coveted artworks at the auction. “Painted in 1973, the untitled oil on canvas spans 70 x 60 inches and bears all the hallmarks of Mehta’s fully formed style: minimal yet emotionally dense, calculated yet urgent. Created at the height of a decade that redefined his artistic identity, it stands as both a collector’s dream and a testament to the transformative power of this pivotal period in Indian art history,” he adds.
SH Raza’s Paysage Provencal, Acrylic on canvas; 1974; 28.5 x 19.5 inches
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Special arrangement
The auction, curated over six months from October 2024 till March 2025, includes works by Indian modernists from various generations and schools of thought — early Bengal artists such as Sital Chandra Bandyopadhya, as well as works from the Progressive Artists’ Group (PAG), which included Souza, Husain, Raza and Ara. “The auction also features later-generation artists like Ganesh Pyne and Bikash Bhattacharjee from the Bengal School, along with notable figures such as GR Santosh, Sakti Burman, and Krishen Khanna. The curation highlights the diverse and evolving styles within Indian modernism, celebrating the distinct contributions of each artist to the broader narrative of Indian art,” he shares.
When it comes to the maximum number of artworks by an artist at the auction, there are four creations by Thota Vaikuntam, five by Ram Kumar and seven by Krishen Khanna. “The auction also offers more than one work by several other important artists such as MF Husain, SH Raza, KH Ara, Satish Gujral. At the same time, the catalogue also offers several other majestic pieces, like works by NS Bendre, Sailoz Mookherja, Sakti Burman. It also includes rare works by German Indian painter AH Muller,” informs Manoj.
M F Husain’s Untitled; Oil on canvas; 1970; 71 x 48 inches
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Special arrangement
While talking about the selection criteria, he shares that the process is an assessment of each piece’s importance within an artist’s overall body of work. “We examine factors such as the period it was created in, its thematic resonance, and its stylistic significance. This is coupled with an awareness of the work’s exhibition and publication history, provenance, and condition — all of which contribute to its cultural and collectible value. Equally critical is our understanding of prevailing collecting trends. In recent years, there has been a noticeable resurgence of interest in India’s modern masters, from Tyeb Mehta and MF Husain to Manjit Bawa, whose works have demonstrated enduring relevance and strong performance at both domestic and international auctions,” he says.
To the curate the auction, AstaGuru takes into account the market-based criteria, which involves a detailed analysis of recent auction results, private sales, institutional acquisitions, and shifts in collector demographics. “We consider the liquidity and price trajectory of an artist’s work, ensuring that each piece offered holds potential value and not just an aesthetic appeal. This allows us to present a catalogue that appeals to a broad audience — from seasoned collectors looking to enhance their holdings with blue-chip artworks to new buyers exploring meaningful entry points into the world of collecting,” Manoj tells.
Sital Chandra Bandyopadhyay’s Untitled; Oil on canvas; 1930; 30 x 20 inches
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Special arrangement
The paintings at the auction include MF Husain’s Untitled watercolour artwork from Ghalib Book Series, estimated between ₹12 lakh and ₹15 lakh, Sital Chandra Bandyopadhyay’s Untitled Oil on canvas painting dated 1930 (between ₹25 lakh and ₹35 lakh) and Archibald Herman Müller’s 1930-dated oil on canvas, Surya, (between ₹15 lakh and ₹20 lakh).
Since its inception in 2008, AstaGuru has been hosting several online auctions. The auction house’s most-expensive artwork sold to date is Tyeb Mehta’s 1973 oil on canvas titled Diagonal, which achieved a record-breaking price of ₹25.29 crore during their Modern Treasures auction in December 2022. Any guesses on the highest bid at this auction?
Slated from April 23 at 10.30am to April 24 at 8pm, the auction will be held online.
Published – April 18, 2025 05:41 pm IST
