Collectors at a sale by Sidharta Auctioneers paid a combined 607 million rupiah ($66,000) for 146 paintings mainly by emerging artists such as Teddy and Purwanto, 33. Purwanto’s “Tangga Langit,” or ladder to the sky, fetched 15 million rupiah, while Teddy’s untitled oil on canvas sold for 14 million rupiah.
“Some people looking for younger artists [...]

Shinnyo-en, a Buddhist temple in suburban Tokyo, said it bought the $14.3 million sculpture of Buddha sold last week at Christie’s International’s New York auction, Agence France Press said, citing a priest at the temple.
Seiji Nishikawa, a Shinnyo-en director, said the temple paid a record for the 800 year-old sculpture to prevent the icon falling [...]

Coal India Ltd will launch web-based forward auctions in coal via two service providers on March 28, starting off with coal produced by Western Coalfields Ltd and following up on March 31 with Northern Coalfields Ltd.
K Ranganath, detailing CIL’s progress in implementing the New Coal Distribution Policy announced last October, said the forward e-auctions will [...]

To raise funds for the ambitious Rs 500 crore Kolkata Museum of Modern Art (KMOMA) project, the chairman and board of trustees are organising a private sale of artworks by artists from across India.
The auction, at the Art Gallery, ITC The Sonar, will be held on Monday.
“In all, 24 artists from all over India from [...]

About 1,000 imported luxury cars, lying unclaimed for over two years at Northport and Westport, will be handed over in stages to the Royal Customs Department.
The department will trace the importers and auction off the cars, estimated to be worth about RM500mil, if the importers are not interested in claiming them.
Selangor Customs [...]

A painting by M F Husain fetched a $1.6 million in a world record for contemporary Indian art at an auction held by Christie’s in New York.
Husain’s painting “Battle of Ganga and Jamuna: Mahabharata 12″ was bought by an anonymous buyer at the auction of Asian Modern and Contemporary art by the Christie’s on Thursday.

Art auctioneer Osian’s has sold a 9.4 percent stake for $20 million to investment firm Abraaj Capital to help fund its future expansion program.
“Abraaj’s partnership will further facilitate the expansion of Osian’s while providing Abraaj an ideal growth opportunity in the fast-growing art and culture sphere,” Neville Tulli, founder and chief executive of Osian’s [...]

Christie’s announces that it will offer Important Chinese Rhinoceros-Horn Carvings from the Songzhutang Collection on May 27 in Hong Kong. This collection, passionately collected over several decades, offers 30 rare and important examples of rhinoceros horn carvings and is one of the finest known private collections of this treasured and honored art form. Long prized [...]

Scope of the futures market in tea was discussed at a high-level meeting held at the Tea Board office in Kolkata on Wednesday. Basudeb Banerjee, Chairman of Tea Board; the Deputy Chairman, Roshni Sen; and member of the Forward Markets Commission, Rajeev Agarwal, were present.
Representatives of the National Commodity & Derivatives Exchange, Multi Commodity [...]

eBay India (www.ebay.in), India’s leading online marketplace, announced the appointment of Ambareesh Murty as the Country Manager, eBay India with effect from March 11, 2008. In his new role, Ambareesh Murty will lead the eBay Portfolio in India, including the eBay India Marketplace and the eBay India Motors Marketplace.
Ambareesh Murty, Country Manager, eBay India said, [...]