Gallerists and artists elated as MF Husain's 'Gram Yatra' shatters records

The recordbreaking auction of legendary painter MF Husains work has thrilled gallerists art collectors and emerging artists alike as excitement grows over the crazy boom in the art market and the muchawaited entry of Indian artworks into the 100crore clubHusains Untitled Gram Yatra billed as one of his most important and sizable works from the 1950s went for USD 138 million over Rs 118 crore at a Christies auction in New York on March 19 setting the new record for the most expensive work of modern Indian artThe artwork according to industry sources is bought by Indian art collector and philanthropist Kiran Nadar However the Kiran Nadar Museum of Art KNMA where Nadar is a trustee has declined to comment on the acquisitionThe milestone event has sparked widespread enthusiasm across the art community some even calling it as a transformative moment for Indian art on the global stageIt is an absolute delight to see this world record being achieved for M F Hussain this was long overdue and the world is finally waking up to the glory of Indian talent For many years now from the modern and even contemporaries theres so much talent thats emerging that had not previously found a world stageWith this milestone we would bring attention to what can be achieved with talent that is present in the land of India M F Hussain has been at the forefront of attention said Arjun Sawhney avid art collector and cofounder of Delhibased Gallery Pristine ContemporaryPooja Singhal founder of Pichvai Tradition amp Beyond echoed Sawhneys sentiments and said the art market is going through a crazy boom reminiscent of the period between 2000 and 2008 when the sales peaked in 2006 and 2008Similarly buoyed by the over118crore sale of Husains masterpiece Mohit Jain of the Dhoomimal Art Centre said the staggering figure would undoubtedly impact the market and the Indian art scene as a whole which he believed is on an upward trendFortunately since 2005 the Indian art market has seen a very positive trend and will continue so This will also attract new collectors globally where they can trust Indian Modern Art and also get inspired to acquire But I believe the effect of this figure will still be limited to the era the strength the subject and the size of each artist he explainedComprising 13 unique panels spanning nearly 14 feet on a single canvas Gram Yatra meaning village pilgrimage is widely regarded as a cornerstone of Husains oeuvre The work celebrates the diversity and dynamism of a newly independent nationThe momentous sale nearly doubled the previous recordholder Amrita SherGils 1937 The Story Teller which fetched around USD 74 million Rs 618 crore at an auction in Mumbai in 2023The 1954 painting which left India the same year remained largely unseen since its acquisition by the Ukrainianborn Norwaybased doctor Leon Elias Volodarsky who was in Delhi to establish a thoracic surgery training centre for the World Health Organization WHOVolodarsky bequeathed the painting to Oslo University Hospital in 1964 The sale proceeds will support the training of future generations of doctors at the institutionBorn on September 17 1915 in Pandharpur in Maharashtra Husain remains one of Indias most important and sought after artists whose oeuvre inspires art and conversations across the globeWith FIRs and persistent death threats Husain was forced into selfexile staying in Dubai and travelling to New York and London where he died on June 9 2011 at the age of 95 leaving behind a prodigious body of workMost gallerists unanimously hope that Husain breaking the 100crore ceiling would pave the way for other artists to finally have their moment in the sun And it appears the list is endless right from emerging talents to established maestrosThere are so many more that have perhaps been denied their places under the sun For example Arpita Singh now has a show retrospective and they deserve as much attention as any artist in the worldThere are many more Ram Kumar is another artist that comes to mind Among the contemporary artists Shilpa Gupta is doing exceptional work Jitish Kallat Subodh Gupta and Bharti Kher have also created a mark and a niche for themselves globally said SawhneySo its not surprising that the mindboggling figure has put a smile on budding artist Narayan Biswass face who acknowledges that emerging artists are now empowered to confidently price their work thereby ensuring a sustainable futureIndian Modern Art is gaining global traction attracting collectors and securing a strong presence in the international market This shift benefits emerging artists who previously struggled for financial stability he addedPreviously Husains most expensive painting Untitled Reincarnation was sold for USD 31 million approximately Rs 257 crore in London last yearThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday 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