Monday, 6 June 2011
THE ECONOMIST
UNITED KINGDOM - Last week saw the final round of Sotheby's spring sales of Indian art from the estate of the late and legendary Stuart Cary Welch. Three years after his death, aged 80, Welch's legacy is keenly felt. The first sale in April concentrated on Islamic material and totalled £20.9m ($34.4m), seven times the low estimate and a world auction record for Islamic art. On May 31st there was standing-room only in the salesroom [for the second sale]. American, Indian and German accents mingled with those of English dealers and collectors. Indeed almost everything in the sale, regardless of its quality or condition, sold for many times the estimates. [link]
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