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M F Hussain, S H Raza ruling art market
Published on Wed, Nov 15, 2006 at 11:52, Updated on Wed, Nov 15, 2006 at 11:59 in Business section
Tags: M F Hussain, S H Raza , Kolkata
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Kolkata: M F Hussain and S H Raza are ruling the roost in the Indian art auctions with their works selling at a whopping $5.24 million and $5.37 million respectively in the
first six to seven months of the year.
According to art market sources, these two artists are among the few living artists to trigger some of the highest sales figures in 2006. Interestingly, Hussain's artwork had sold at only $27,000 in 2000.
Market sources said, ''The graph is rising every year. From just four to five figure auction sales in 2000, the seven figure barrier has been broken by several artists.''
Hussain's paintings had fetched $1,40,000, which grew every year and touched even $5.9 million in 2005.
Raza's paintings have seen a sharper rise in sales at the auctions. Raza had sold about $8,700 in 2000.
It grew to $1,200 in 2001 and jumped to a whopping $4 million in 2005, sources informed.
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