CULTURE & ARTS
07/16/2013 09:35 am ET

Christie's To Hold Its First Sale In India

AP

London-based auctioneer Christie’s said it is planning to hold its first sale in India this winter in an expansion that reflects the growing clout of Indian collectors in the global art marketplace.

India’s art scene has been a rollercoaster for the past decade, with collectors paying nearly $1 million apiece for abstracts by Indian modernists like Vasudeo Gaitonde even as the country’s contemporary galleries and artists have soared and shrunk with the vagaries of the broader economy. Today, the local competition is scattered, with a handful of top galleries in Mumbai and New Delhi and a smattering of domestic auction houses like Saffonart and Pundole’s selling modern and contemporary Indian art, often online.

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