Gaurav Bhatia Sotheby’s “Boundless: India”

0
533
Gaurav Bhatia Sotheby's Ex MD

Sotheby’s Former Managing Director, Gaurav Bhatia sheds light on one of Sotheby’s biggest auctions “Boundless: India” in our country.

After ruling the art auction market across the globe, Sotheby’s, during Mr. Gaurav Bhatia’s tenure as the Managing Director marked its presence in India with “Boundless: India” in Mumbai. Starting on a great note, the inaugural sale featured 60 artworks, including some of the best pieces of South Asian artists along with masterpieces from western artists. These artworks on display were broadly inspired and influenced by culture, geography, and the people of South Asia.

Tyeb Mehta’s painting, Durga Mahisasura Mardini (1983) was among the highlights; it was sold for Rs 20.49 crores. Directly commissioned from the artist in 1993, the painting was kept in a private collection ever since. Sketched in his familiar sharp, edgy lines, the artwork is Tyeb Mehta’s earliest depiction of the deity, wherein the saffron Durga stands tall over the green vanquished buffalo demon Mahishasur against the backdrop of a “hope” hued blue sky.

The Little Girl in Blue, Sotheby’s first sale at the maiden auction also fetched a record price in India at Rs 18.69 crores. The unique artwork of Amrita Sher Gil depicts the artist’s 8-year-old neighbor, Lalit ‘Babit’ Kaur. Her mother, Lady Buta Singh, who was a close friend of Sher-Gil’s paternal uncle, Sunder Singh Majithia lived next door to them at Nowshera House.

The painting has been treasured in the same family collection ever since the painting was acquired at the artist’s first solo show in 1937 by Charles Fabri. Extraordinary artwork by the renowned Hungarian-Indian artist Amrita Sher-Gil (1913–1941), nicknamed the ‘Indian Frida Kahlo’, was tagged as the much-deserved bestseller.

The auction witnessed a total sale of Rs 554 million. The event turned out to be a testament to the international expertise of Sotheby’s across the globe, over the last few decades.

“The growing presence of Indian collectors at international sales and the development of an increasingly vibrant domestic Indian art market influenced Sotheby’s decision to debut in India, which was being mulled for a long time. The auction house portrayed a diverse image of Indian art, which the world did not get to see before,” said Ex MD Sotheby’s Mr. Gaurav Bhatia.

Sotheby’s left no stone unturned for their debut auction to make a mark in India. A major component of Sotheby’s strategy in India was the appointment of now-former Managing Director Gaurav Bhatia, who previously headed LVMH India as its marketing director. A Mumbai-based art connoisseur and luxury expert with more than 20 dedicated years in luxury and lifestyle, Mr. Gaurav Bhatia Sotheby’s Ex MD was highly instrumental in helping the company come up with its maiden auction in the country.

Ever since its inception in 1744, Sotheby’s has been uniting collectors with world-class artwork. It became the first international auction house by expanding its operations from London to New York in 1955.

Today, Sotheby’s presents auctions in ten different salerooms, allowing the visitors to view all the auctions live online and place bids from anywhere across the world. Known as one of the world’s oldest auction houses, Sotheby’s boasts of an incredible global network of 80 offices in 40 countries.

Ex Managing Director Sotheby’s Mr. Gaurav Bhatia was also responsible for opening up new markets, creating new categories, working on business development, and expanding customer base across South Asia and the United States. Apart from being an opinion leader in luxury and lifestyle, he is on the Power List of the Luxury industry as well.

With Mr. Gaurav Bhatia at the helm, it was probably the perfect time for Sotheby’s to make an appearance in the Indian luxury market. The enthusiasm that was seen at the exhibition in Mumbai is going to serve as a confidence booster for the auction house that will keep it in good stead. It was a milestone moment for Sotheby’s, as the company had harbored a vision that required great planning, determination, and execution.

In its first auction at Mumbai, Sotheby’s brought an international touch to the Indian artwork and introduced the concept of specialist auctions covering modern and contemporary art, along with the luxurious segment of decorative art, jewelry, precious collectibles, etc. The artworks were beautiful, unique, and had unparalleled histories, which played a massive role in attracting art collectors not only from India but from other parts of the world as well.

On the other hand, a relatively new concept in India has started gaining traction, opening doors to the luxury brands like Sotheby’s. On the back of super high net worth buyers and NRIs, luxury marketers are shepherding a prodigious demand. By attracting big shots and creating endless opportunities, India’s luxury market has been crafted through a new paradigm.

Ex MD Sotheby’s Gaurav Bhatia believes “ India’s luxury goods market has witnessed decent growth in the last couple of decades. The growth is fueled by the rapidly growing urban middle class, transparent operations, and a customer-centric approach. Although it is still early days, the foreign luxury real estate brands like Sotheby’s International Realty have found their home in India.”

A luxury real estate arm of the auction house, Sotheby’s International Realty banked on the scope offered by the Indian luxury market and made its debut in Mumbai in the second half of 2017. It signed a 25-year exclusive master franchise agreement for all of India with Realpro Realty Solutions, signally exponential growth in the brand’s footprints in India. Since 1976, Sotheby’s International Realty global network has over 20,000 independent sales associated with around 880 offices across 70 countries and territories. The group achieved a global sales volume of $95 billion in 2016.

During Mr. Gaurav Bhatia’s term as the Managing Director, Sotheby’s played a key role in bringing new technologies and internationally acclaimed architects to meet the luxury real estate demand in the country. The potential of the luxury market was visibly quite massive which as a result,  paved the way for increased demand in the nation. Even after the introduction of various reforms, the Indian luxury market is one of the best amongst all luxury categories.

Sotheby’s has been instrumental in bringing international investment to the Indian art world, introducing the concept of specialist auctions covering modern and contemporary art in its debut auction.  Evolving into one of the most vibrant art markets in the world, India’s potential as a South Asian giant is no longer a secret.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here