Sotheby’s London achieved the highest price of the summer season for Modern and Contemporary South Asian Art when a newly discovered work by Indian artist Vasudeo S Gaitonde sold for £698,500 at a recently concluded auction.u00a0Coming to the market for the first time in 50 years, Gaitonde’s luminous Painting No 1, of 1962, was acquired in New York during the 1960s. Consigned to an attic for many years and discovered during a valuation by one of Sotheby’s New York specialists, the work’s owners were unaware that it was a painting by one of India’s most important artists.

Vasudeo S Gaitonde’s Painting No 1 that was sold for £698,500 at a Sotheby’s London auction