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Indiatimes Announces Art Auction; Saffronart Does Rs.19 Crores In Sales

The Saffronart online art auction closed with sales of arond Rs.19 crore, and Ravinder Reddy’s Radha 2007 selling for Rs. 1.5crore, reports IBNlive.
Now Indiatimes has announced its auction, featuring works of S.H. Raza, Sakti Burman, K.G Subramanium, M.F.Hussain and others. Some works of art will be displayed at Indiatimes Art from the 12th to the 15th of March when the site will accept bids online. Other works of art, priced higher than those at the online auction will then go under the hammer at an offline auction on the 17th of March in Delhi. The last auction had seen the sale of three works of art for a couple of crores. As was the case with the last Indiatimes auction, Indiatimes has constituted a panel for guiding buyers by means of interactive sessions.
Indiatimes To Host Online Art Auctions; Auction Does Rs.70 Crore In Transactions Kicks Off Winter Auction Of Paintings Online
— <a href="" title="Saffronart

3 Responses to “Indiatimes Announces Art Auction; Saffronart Does Rs.19 Crores In Sales”

  1. Jack the Reaper

    Nikhil may be right. But he may also be wrong. History doesn't necessarily determine the future. If Art is indeed such a big space, it's good to see some action happening online rather than in just the snooty galleries. Perhaps Indiatimes is doing this deliberately – i.e. following SaffronArt – because it knows it's the follower as of now. Fun though.

  2. Well, there's another thing worth noticing — the Indiatimes auction is <i>after</i> the Saffronart auction. It was the same in December, so looks like they're feeding off the hype, and also adding to it, instead of competing. Maybe, after they get a few big ticket sales, they will look to compete as a means of creating more hype.
    in the same vein, do you think there's something brewing at Yahoo too? they've been quiet too…I wouldn't take quietude as an indication of something brewing…unless you know better.

  3. Jack the Reaper

    So, Indiatimes has also joined the party… question is, will it spoil SaffronArt's party? Can't see Indiatimes not succeeding in this… the Group must be one of the biggest collectors of art in this country and if no one knows, it must be deliberate. Also: can't help feeling that something's brewing at Indiatimes… they've been way too quiet for too long. Anyone know what's up?