TYEB MEHTA ON FIRE AT AUCTION

Renowned artist Tyeb Mehta hit the headlines earlier this year with his record-breaking painting that was sold for ?42 crores (US$5.6 M), which is also currently the second most expensive painting ever sold at auction by any Indian artist. Tyeb Mehta’s artworks are being sought after by seasoned art collectors and investors alike. If price points tell us one thing, they tell us that Tyeb Mehta is in great demand and is on fire at auction.

Tyeb Mehta is one of the most famous post-colonial artists in the country. He is credited for triggering an interest towards Indian art among domestic and international art lovers. Born in Kapadvanj in 1925, when the country was experiencing a peak in nationalism, Mehta was exposed to the partition in his 20s. Initially a film editor, his interest in painting led him to the Sir J.J. School of Art, Mumbai from where he graduated in 1952 and became part of the Progressive Artists’ Group. Between 1959 and 1964 he lived and worked in London where he was heavily influenced by European Expressionism. In 1965, he painted the first of his ‘Falling Figures’ series which won him a gold medal at India's first Triennale following which he was awarded the Rockefeller Foundation grant in 1968 to work and study in the United States for a year. 

Mehta is popularly called the Bacon of India (inspired by the macabre distortion used by Francis Bacon- the famous Irish-born British figurative painter). The use of flat planes of colour to conjure space and the diagonal division of it were both styles that existed in the Indian miniature tradition and were his additions to the Baconian style of the macabre. His artworks reflected struggle and sufferings and became his signature style throughout his artistic journey.

Mehta’s first work appeared at a public auction in 1987, and since then the artist and his works have made an incredible journey. With a massive turnover of  ?788.6 crores (US$131 M) against 220 works sold, this incredible artist ranks No. 5 on Indian Art Investor’s Top 50 artists list. A total of 98 works of Mehta, i.e. 45% of his works, have crossed the prestigious ?1 crore mark, which is an achievement in itself. Additionally, the artist has recorded an impressive average price of ?3.6 crores (US$595.6 K) per artwork. Interestingly, in the past five years, between FY18-22, this price more than doubled to ?7.2 crores (US$1 M), indicative of his current strong hold in the Indian art market.

Mehta’s works in oil on canvas and acrylic on canvas are his best-performing works at auction. They have generated ?374.2 crores (US$63.2 M) and ?301.1 crores (US$50.6 M) respectively and have collectively contributed to 86% of the artist’s total turnover. The artist has also produced works in other mediums like charcoal, ink, gouache and print, among others. While these works by Tyeb commanded a comparatively lower price than his works in oil/ acrylic on canvas, they have still performed in line with, if not better than, the average market price of these mediums.