Mumbai: One of the earliest book on Raja Ravi Varma and a magazine from 1911, sold at Rs 5.96 lakhs nearly 15 times its upper estimate of Rs 40,000 at a recent auction, which included books on art and limited edition monographs among others.
The 'Collectible Books and Ephemera on Indian Art' auction by StoryLTD, a platform under auction house Saffronart concluded last night to a total sale value of Rs 98 lakhs (USD 148,380), auctioneers said today.
41 out of 51 lots (80 per cent) sold, witnessing increasingly competitive bidding as the auction neared closing. Marg's 64 volume set led the sale at Rs 19 lakhs (USD 28,882), against a pre-sale estimate of Rs 4 - Rs 5 lakhs.
The set is a collection of carefully bound and well preserved issues from 1947. Several early issues are now difficult to find, and this was perhaps the most comprehensive collection of nearly all its issues till 2013.
Another lot 'Souza: Important Books, Catalogues and Rare Magazines', sold for Rs 12 lakhs (USD 18,606), four times its upper estimate of Rs 3 lakhs. A set of 16 books and magazines on Indian artists, sold at nearly seven times the upper estimate of Rs 1.5 lakhs, for Rs 9.97 lakhs (USD 15,109).
'Sher-Gil: 8 Books and Magazines', sold at 14 times its upper estimate of Rs 60,000 for Rs 8.4 lakhs (USD 12,727). The lot included some of the earliest magazines and catalogues featuring the artist and her work, and have never been in the market before, auctioneers said.
"Rare books on Indian art and catalogues of seminal exhibitions and leading galleries have become true collector's items, and we are thrilled with the response to this sale. It underlines the value of such documentation and increased appreciation among collectors for the history, provenance and context, which is integral to the value of the paintings themselves," Hugo Weihe, CEO, Saffronart said.
StoryLTD also announced its auction of Antiquarian Books in August 2016, a sale that promises to be bigger and grander in scale.
