Guwahati: Arts Auction House deRivaz & Ives has announced to host their inaugural and year’s first Art Auction under the theme ‘Indian Modern Fine Arts’, says a press release.
The online auction will be opened through January 21st & 22nd between 10am to 8pm (IST) on www.derivaz-ives.com.
deRivaz & Ives has lined up three more online auctions in the next 30 days, reflecting confidence on part of the art collectors and connoisseurs. It has also introduced Artists Resale Royalty (ARR) Framework as a boost and security blanket to Artists.
A top selection of 30 lots of fine art by the leading modern masters such as Jamini Roy, N.S. Bendre, S.H. Raza, F.N. Souza, M.F. Husain, V.S. Gaitonde, Jehangir Sabavala, Akbar Padamsee, Prabhakar Barwe, Ganesh Pyne, among others will be open for online bidding. These comprise some of the rarest masterpieces by these artists, including artworks of S.H. Raza highlighted in his Centenary Year.
Neville Tuli, Chief Mentor, deRivaz & Ives, said, “This is an important step for Indian art, ARR ensures that artists or their legal heirs are given a financial credit for their work in secondary public auction sales, ranging from 4% to 2% depending on the value of the secondary sale. The right to payment will last for the copyright period following the death of the creator/artist. With several industries including the music industry setting laws in place for their creators, this radical move sets the tone for the art world, artists and their legal heirs across India who have been struggling to get a share from secondary public auction resale.”
He further added, “Artists take decades to evolve their craft. A very small proportion of them achieve their due financial respect when alive. Only their one-off primary market sale financially rewards them. DeRivaz & Ives’s decision to pay ARR will encourage others and push India towards a more just and mature globalising art market.”