International auctioneer Christie’s said Tuesday it will hold its first ever sale in India as it seeks to capitalise on the country’s expanding art scene.
The London-based house, which has had an office in financial hub Mumbai for two decades, will stage its inaugural sale in December.
“The decision to hold auctions at this time is a reflection of the strong momentum in the domestic art marketplace,” Christie’s said in a statement. The sale also reflects “the increased international appeal of Indian art and the growing participation of Indian collectors across international sale categories.”
Christie’s chief executive Steven Murphy said the auction would be of domestic artwork and that other sales would follow. The auctions “will allow Indian collectors domestic access to works of art sourced by Christie’s (and) international collectors access to the very best of Indian art”, he said.
The plan follows a recent announcement by the auctioneer that it would hold its first sale in Shanghai in September, becoming the first international auction house to conduct a sale in mainland China.