An untitled work by Indian artist VS Gaitonde has beaten its estimate of $800,000 by 100%, achieving $1.6m at Bonhams New York.
This latest sale demonstrates the upward trend in the market for Gaitonde, following greater appreciation of his work in the west in recent years.
This culminated in a $3.7m sale at Christie's Mumbai last year, which represents a world record for a piece of Indian art.
Collector Morris Graves (1910-2001) bought the present lot directly from the artist while on a visit to the sub-continent in 1963.
He notified a friend in San Francisco of his new discovery in a letter: "today Mrs. Jayakar took me to the studio of a Bombay painter named GAITONDE age 32 & one of the finest painters I have ever seen.
"He is very little known. He's as fine or superb as Mark Rothko at his best. He paints in oil average size 34" x 26" 38" x 48" 5ft. x 4 ft. a fine person and will be a world-known painter one of these days.
"I bought 1 superb oil & six supersuperb ink drawings. He is an abstract painter with something unspeakably beautiful & clean added. They are the most beautiful landscapes of the mind plus light and composed with very great simplicity. You too will be very awed by him...."
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