Mounting Pressure
The new decade started with global panic as the novel coronavirus (Covid-19) spread from Wuhan to the rest of China in December 2019, and across the world in January. While several cities in mainland China were placed in lockdown, many countries, including the United States, imposed restrictions on travelers who had visited China within the two weeks preceding their arrival. Virus-related disruptions affected auction houses in New York and Hong Kong, leading to postponements and cancellations of first-quarter events.
NEW YORK
Sotheby’s Asia Week sales of fine art and antiques were postponed from March to June 22–27, except for the Modern and Contemporary South Asian Art auction, which will take place on March 16 as scheduled. At (1963) oil-on-canvas abstraction, featuring a horizontal band of blue and black strokes on a powdery gray background. Although works by Progressive Artists’ Group luminaries such as Gaitonde have enjoyed steady popularity—and sky-high prices—recent results have been less predictable. At Sotheby’s November 2019 sale in Mumbai, Gaitonde’s yellow abstract composition (1974) had an anticipated price tag of USD 2 million but was met with little interest and went unsold.
