New Delhi : Art auction house Christie's has unveiled seven works by top artists here in a preview of its Sep 15 sale of South Asian modern and contemporary art in New York.

The works were thrown open to select viewers and the media at the Oberoi Hotel in the capital late on Aug 12th evening. The auction, third in Christie's series of 'highly successful' sale of South Asian art this year, will feature 104 works.

'It is one of our strongest sales this season in terms of value and quality. Unlike last year, when modern masters were in great demand, this year the contemporary artists are back to the market and are holding on their own in prices,' Hugo K. Weihe, international director of Asian art and the international specialist head, Indian and Southeast Asian art, told reporters.

'The art market is still in the process of re-energising itself. We are lucky to have procured some top quality contemporary art works that did not come to the market last year,' he added.

The art works included an 'untitled figure drawing of women' by Jamini Ray estimated at $20,000, 'La Terre' by Syed Haider Raza estimated at $2,500,00, an 'untitled' drawing of a large head by F.N. Souza priced at $1,800,000, an untitled 'sitar player' by M.F. Husain estimated at $500,000, 'Two Cows' by Subodh Gupta priced at $350,000, 'Karuna' by Atul Dodiya priced at $150,000 and 'Kalki' by Atul Dodiya estimated at $250,000.

Figures furnished by the auction house said since launching its Indian modern and contemporary art sales in New York in 2000, Christie's sale of Indian art touched $45 million in 2008. In 2000, it had notched sales worth $656,000.

The Christie's team in India said its business that had slumped in the last quarter of 2008 had recovered by September 2009. It was booming once more with the markets recouping. 'We are only halfway through 2010, but our business in Indian art has already touched $27 mln,' Weihe said.