Gaitonde Painting Fetches Rs 4 Crore
VS Gaitonde's oil on canvas that fetched Rs 4.4 crore
It was the final day of the Bhabha Estate auction, and up for grabs was an eclectic collection of artefacts, paintings, jewellery and furniture, all classified under the Modern art section. But the piece de resistance was a VS Gaitonde oil on canvas, which was priced at Rs 1.5 crore.
As soon as the painting was flashed on the screen, there was a mad scramble among the bidders who clearly had been eyeing the masterpiece for a while. The mood in the auction hall was electrifying as paddles shot up in the air with remarkable frequency and bids started pouring in from those present as well as on the phone.
In fact, in less than 10 minutes the 152 x 100.3 cm untitled work signed and dated 1968 was sold for a handsome Rs 4.4 crore. A close second was a Tyeb Mehta 1969 oil on canvas which went for Rs 3.5 crore. Probably, the Tyeb Mehta will soon grace one of the classier homes in the city, but we will reveal more in the days to come.