There will be 125 lots, featuring 44 contemporary artists - the post independence generation who I believe have created their own sensibilities with an eye on international trends.

This auction has opened a space at the bottom for a new generation of artists to come into auctions. The auction results are a sheer boost to young artists. Just like China, Russia and the US, Indian contemporary art was the next big genre to arrive on the world scene.

Additionally, the auction will also introduce new media like installation, sculpture and photography.

The range of estimates for the works allows new buyers to enter the market.