London, 28 October 2024

Painting by Indian Modernist K.C.S. Paniker Soars Sixty Times Over Low Estimate at UK Auction

28 October 2024

In brief: UK auction house Roseberys auctioned two works by K.C.S. Paniker (lots 377 and 378). Lot 378 realised a price of £78,240, over 60 times its low estimate, in an intense bidding battle won by an Indian buyer. A further work by the artist realised a price of £26,240 over a low estimate of £700. Works by Progressive Artists’ Group founder F.N. Souza realised prices of £31,440 and £20,992, exceeding low estimates of £20,000 and £10,000, respectively.

High res images here. Please credit Roseberys.

Roseberys’ Antiquities, Islamic and Indian Arts (Friday 25 October) proved the strength of the market for Indian Modernist painters, with a work by K.C.S Paniker (lot 378) selling over 60 times its low estimate. In a heated international bidding battle between phone, online and room bidders, a buyer from India triumphed, with the work realising a price of £78,240. A further work by the artist realised a price of £26,240 over a low estimate of £700. Conservative estimates were set to match the rapid demand for Modern and Contemporary Indian art, appealing to both established collectors and those looking to start or expand their collections.

Pictured: Lot 377 and 378 by K.C.S. Paniker

Two works by Progressive Artists’ Group founder F.N. Souza also performed well, realising prices of £31,440 and £20,992 over low estimates of £20,000 and £10,000 respectively.

Pictured: Lot 396 & 397 (Untitled, Head) by F.N. Souza

Roseberys demonstrated the full potential of Indian modernism and our team’s ability to position these works for success. This success comes at a moment of renewed interest in Indian modernist painters both abroad and in their home country. The recent Bombay High Court decision serves as a reminder that the artistic vision of masters like Souza deserves appreciation and thoughtful interpretation."

Alice Bailey, Director and Head of Islamic & Indian Arts at Roseberys.

Kovalezhi Cheerampathoor Sankara Paniker (1911-1977), a towering figure in the Madras Art Movement, is renowned for his abstract and metaphysical paintings. His shift from Western aesthetics to regional pictorial traditions firmly established him as a pivotal figure in post-colonial Modernism. The works sold, dated 1953 and 1956, exemplify a transitional moment from figuration towards the abstraction that would define his mature career. The sale also included high-calibre antiquities from the collection of Philip Hewat-Jaboor, with three works of Roman stone masonry rounding out the sale highlights.

The auction was timed to coincide with the influx of buyers to the UK for the annual Asian Art in London event held in the venues around the capital from late October to November 8. Roseberys is among the 32 participants.