Christie's unable to sell SH Raza's work 'Bindu' at auction, opts for private sale

At Christie's third auction in Mumbai last December, a large work titled 'Bindu' by Indian painter SH Raza went unsold. At an estimated price of Rs 10 -15 crore, it was expected to be a highlight of the sale. But with aspersions cast on its authenticity just days before the auction, bidders chose to give the lot a pass.
However, as per sources in the know, soon after the auction, Christie's sold the painting privately, though the final sale price of the work is unknown. At the auction, bids for it did not cross even Rs 7.5 crore.

When contacted for details, a spokesperson for the auction house responded over email , "Unfortunately we are unable to comment on the status of any work of art that does not sell during our auctions as this information is not a matter of public record."

At the time, as a Dubai-based art house questioned the authenticity of the Raza in question, Christie's stood by the work, but was unable to make the sale.



SH Raza (Image: Raju Shinde/BCCL)


Sources from the fraternity s ay that works command the best prices in an open auction. In a private sale, their pricing gets compromised. Experts say that since Christie's passed the sale at Rs 7.5 crore and Rs 10 crore was at the lower end of the estimated price band, the sale would have gone through at a figure in between. But that is just an educated guess.


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