ECA Expects Rs 225 Million From Online Art Auction

[by Cerius Shah] Husain and Raza seem to be the toast of the online art auction scene. Along with them, Tyeb Mehta, FN Souza and other artists will go under a simultaneous offline and online hammer. The event is organized by Emami Chisel Art (ECA), a collaboration between the Emami Group and Kolkata’s Chisel Art; the parent company of Aakriti Art Gallery. ECA is looking at holding the auction in Kolkata, which unlike other centres, does not levy 12.5 % VAT on art. Seems like an unfair cost advantage offline compared to the simultaneous online bidding.

The online auction is expected to rake in Rs 225 million with 89 works up for sale. Previously we had covered the Indiatimes and Saffronart auction, the latter of which reportedly raked in Rs 70 crore and saw 14 works sold.

The ECA online bidding is expected to being on February 16 at (samples of work online), according to the release, with the final auction being simultaneously conducted online and offline on February 23. Watch this space for updates post-hammer date.