India is finally getting presence on the international auctions map as Christie’s announced on Tuesday that it will hold the inaugural sale in Mumbai in December.
The first sale will focus on Indian art, the auction house said. The Indian sale comes just after the top international auction houses entered the mainland China market. Most auction houses only hold sales in Hong Kong and Dubai in Asia. Christie’s will hold a sale in Shanghai in September 2013, becoming the first international auction house to operate independently in mainland China. Sotheby’s has entered mainland China through a joint venture with state-owned Beijing GeHua Art Company. Hong Kong, which is not seen as part of mainland China, has been a major auction venue for international auction firms since the mid-1980s. The three big auction houses, Christie’s, Sotheby’s and Bonhams, hold annual sales of Indian art in June to attract Indian diaspora and Indian clients.
“The decision to hold auctions at this time is a reflection of the strong momentum in the domestic art marketplace, the increased international appeal of Indian art and the growing participation of Indian collectors across international sale categories,” the auction house said. Christie’s has had an office in Mumbai for 20 years.
“We are delighted to announce that we will hold auctions in India, allowing Indian collectors domestic access to works of art sourced by Christie’s, international collectors access to the very best of Indian art, and opening channels to our global network and specialist expertise,” Steven P. Murphy, chief executive of Christie’s, said.
The inaugural Mumbai sale will reinforce Christie’s longstanding commitment to the artistic and cultural heritage of India. “We are honoured to play a part in the further development of the domestic and international Indian art marketplace,” he added.
Christie’s had supported the India Art Fair in New Delhi in January and partnered with the British Council for Homelands, a touring exhibition of contemporary art, to New Delhi, Mumbai, Kolkata and Bengaluru.