The latest GIFTEX auction delivered a string of remarkable results, with works by modern masters and contemporary artists alike soaring past their pre-sale estimates. Here’s a full rundown of how each of the top lots performed.
Topping the sale was M.F. Husain’s “Untitled,” an acrylic and pastel work on paper from circa 1960, which sold for ₹65,60,703 against a high estimate of ₹15,00,000 — an increase of 556.07 percent, cementing its place as the auction’s standout lot.
Close behind, Sheela Gowda’s “Untitled,” an oil on canvas, sailed past its high estimate of ₹12,00,000 to fetch ₹62,98,274, a gain of 424.86 percent that reflected strong demand for the acclaimed contemporary artist’s work.
Sohan Qadri’s “Untitled,” a 2009 piece in ink, dye, and incisions on paper mounted on board, sold for ₹48,02,770 against a high estimate of ₹7,00,000, marking a 586.11 percent increase and underscoring continued enthusiasm for the artist’s distinctive abstract style.
S. Yousuf Ali’s “Untitled,” an oil on canvas from 1972, delivered one of the sale’s most dramatic results, achieving ₹38,42,212 against a high estimate of just ₹3,00,000 — a 1,180.74 percent increase that pointed to intense collector interest.
Sailoz Mookherjea’s “Untitled,” an oil on board, surpassed its high estimate of ₹15,00,000 to reach ₹37,03,346, a 146.89 percent increase reflecting steady demand for the modernist master.
Paramjit Singh’s “Untitled,” a 2024 oil on canvas, sold for ₹29,62,676 against a high estimate of ₹10,00,000, a 196.27 percent increase that spoke to strong appreciation for his evocative landscape work.
Achuthan Kudallur’s “Untitled,” a 2007 acrylic on canvas, achieved ₹28,81,661 against a high estimate of ₹4,00,000, climbing 620.42 percent and highlighting enduring demand for his abstract compositions.
Manu Parekh’s “Head III,” a 2017 acrylic on canvas, sold for ₹26,19,692 against a high estimate of ₹4,00,000, a 554.92 percent increase reflecting strong interest in his expressive figurative works.
Akkitham Narayanan’s “Untitled,” a 2015 oil on linen canvas, fetched ₹26,02,596 against a high estimate of ₹6,00,000, rising 333.77 percent and reflecting appreciation for his refined abstract visual language.
The biggest surprise of the sale came from Mrinal Kanti Das’s “Untitled,” a 1979 watercolour on paper estimated at only ₹30,000 to ₹40,000. It sold for ₹25,59,007, an extraordinary 6,297.52 percent increase — by far the largest percentage gain of the auction.
Avinash Chandra’s “Untitled,” a 1961 oil on canvas, achieved ₹23,61,853 against a high estimate of ₹4,00,000, a 490.46 percent increase reflecting sustained demand for the modernist’s work.
Bimal Das Gupta’s “Untitled,” a 1989 watercolour and acrylic on paper, reached ₹17,92,420 against a high estimate of ₹6,00,000, a 198.74 percent increase reflecting growing interest in his works on paper.
Arpana Caur’s “Renewal,” a 2007 oil on canvas, sold for ₹16,72,354 against a high estimate of ₹4,00,000, up 318.09 percent, underscoring interest in her socially engaged artistic practice.
Ambadas Khobragade’s “Untitled,” an oil on canvas, achieved ₹16,29,473 against a high estimate of ₹2,00,000, a 714.74 percent increase reflecting strong collector interest in his modernist practice.
Jatin Das’s “Untitled,” an oil on canvas from 1967, reached ₹8,96,209, a 198.74 percent increase, underscoring the lasting appeal of the artist’s early modernist works.
Shyamal Dutta Ray’s “Untitled,” a 1999 mixed media work on paper, achieved ₹13,91,191 against a high estimate of ₹7,00,000, a 98.74 percent increase reflecting appreciation for his introspective style.
Shanaka Kulathunga’s “Peacock Dancer,” a 2026 oil on canvas, sold for ₹12,85,020 against a high estimate of ₹4,00,000, up 221.26 percent, a strong showing for the contemporary artist’s vibrant, theatrical work.
Closing out the top results, Dhiraj Choudhury’s “Untitled,” a 1970 oil on canvas, achieved ₹8,56,680 against a high estimate of ₹7,00,000, a modest but solid 22.38 percent increase, reflecting continued appreciation for his bold, socially charged practice.
Across the board, the auction demonstrated that works with modest pre-sale estimates can generate the most intense bidding, sometimes outpacing established names on a percentage basis, while modern masters continue to command strong absolute prices.
