Dubai – ARTIANA’s total auction sales in 2018 crossed the USD 3.5 million mark after the conclusion of the South Asian Art ‘Classical, Modern and Contemporary’ sale on 10 December 2018, which realized USD 1.8 million and achieved sell-through rates of 92% by lot and 102% by value.
The first of the two South Asian Art auctions held in May was Artiana’s first white glove sale with a 100% sell-though rates and 111% of the total lot value sold. Both auctions were held with Artiana’s ‘No Buyer’s premium’ policy ensuring the minimum transaction cost for both buyers and sellers.
Growth continues
Continued growth and engagement of clients from within UAE, India, and other parts of the world – many of them first-time buyers, were equal contributors to the overall sales.
Highest prices were bid for paintings by M.F. Husain – ‘Trinity of Mother Teresa’ (USD 320,000) and ‘Arjun and Sudarshan Chakra’ (USD 300,000). Work of artists S.H. Raza and F.N. Souza also performed well in the auctions confirming the continued demand for modern Indian art.
Other established modernists Sakti Burman, Krishen Khanna and Ram Kumar completed the top ten list of highest prices realized.
Sculptures and company paintings attracted good interest from collectors throughout the year and opened up the accessibility of this genre to enthusiasts in the region.
Exceptional prices for Zarina Hashmi’s pieces were achieved on the back of increased demand for her works. The artist’s delicately executed prints, crafted through handmade paper, have become one of the most sought-after pieces for contemporary art collectors. Zarina and other leading printmakers work will be showcased in our upcoming Prints and Multiples Art Auction in early 2019.
Future plans and engagement
The increase in the overall sell-through rate cements Artiana’s presence in the South Asian auction calendar whilst concluding another year of successful sales.
With its expanding client base and continued diversification across collecting categories, clients can look forward to rare pieces and wide range of artworks in the following year. Artiana’s line-up include Prints and Multiples, South Asian Art and Art Beyond Borders Auctions for 2019. For more details, visit the website at www.artiana.com.