Christie’s to hold first Indian auction in Mumbai

Britain's famed auction house Christie's will hold its first Indian auction in Mumbai this December, a move, which Christie's says is a reflection of the growing participation of Indian collectors in the world art marketplace.

Christie's has had a presence in India for almost 20 years through its office in Mumbai. However it has never actually held an auction in the country.

A total of £2.4 billion worth of artwork was sold by Christie's globally in the first half of 2013, which is an increase of 9 per cent on the equivalent period last year, said the auction house in an statement released today.

''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,'' said Christie's.

Christie's chief executive Steven P Murphy said, ''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.

''Our inaugural Mumbai sale reinforces 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.''

For the first six months of 2013, Christie's sold 422 works at above $1 million and 34 above $10 million.

The number of clients from Asia increased 15 per cent, representing 23 per cent of all registrations.

Founded in 1766 by James Christie, Christie's conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. It offers over 450 sales annually in over 80 categories, including all areas of fine and decorative arts, jewelry, photographs, collectibles, wine, and more. Prices range from $200 to over $80 million.

Christie's has 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai and Hong Kong.