Inside Giftex’s 2025 Art Auction: Top 5 Lots That Stole the Show

Reading Time: 6 minutes

Welcome to the thrilling world of online art auctions, where you can buy grand masterpieces from the comfort of your home. The world of art auctions was once fully made of brick and mortar. Grand auction houses, with an eloquent auctioneer waxing poetry about the lots and the bidders, all elegantly dressed and raising a paddle. However, with the rise of online auction houses, this situation started changing. Now, collectors can bid for treasures from their homes. This is especially true in the case of online art auctions in India. The Indian art market is currently witnessing a period of intense growth, with an increased demand for modern art and works by artists like S.H. Raza, Krishen Khanna and others. This is proven with the success of the recently concluded Giftex Modern and Contemporary Art Auction, held on the 22nd – 23rd of August, 2025. This online art auction was nothing short of spectacular, with total sales reaching a whopping ₹8,93,39,780 and the highest bid reaching a staggering ₹ 35,82,228 for a work by art by artist Nilima Sheikh.

The Magic of an Art Auction

Art auctions have always been a magical gateway to another world. Each artwork tells a story, inviting the viewer to lose themselves in its intricate web. What makes an art auction special is a curious blend of high-stakes entertainment, passion for art and the pursuit of treasures by bidders trying to outbid each other. Giftex has mastered the art of bringing this magic online, creating a platform where seasoned collectors and new bidders alike can engage with works of India’s leading modern and contemporary artists. 

Why Online Art Auctions Are on the Rise

1. The Passionate Pursuit

At the heart of every auction is passion. Collectors and enthusiasts aren’t just buying — they’re chasing art that speaks to them.

2. The Casino Effect

There’s an undeniable thrill in the uncertainty of auctions. It’s like being in a casino with potential for victory at every turn.

3. Market Valuation in Real Time

Unlike private sales, auctions provide a transparent, public gauge of an artwork’s true market value. 

4. Owning a Piece of History

Each lot carries its own story. For buyers, the allure is not just about investment — it’s about acquiring a one-of-a-kind piece.

5. The Emotional Connection

Beyond numbers and prestige, collectors often bid because they fall in love with an artist’s vision.

Highlights from the Giftex Auction

The Modern & Contemporary Art Auction by Giftex took place on August 22–23, 2025, featuring over 200 curated lots, including works by major Indian modernists and contemporary artists like M.F. Husain, Krishen Khanna, Himmat Shah, and others.

While the auction showcased an impressive lineup, a few lots stole the spotlight:

1. Lot No.187 Nilima Sheikh

 

Medium: Tempera on Sanganeri paper

Winning Bid: ₹35,82,228

Nilima Sheikh’s work stands out for its delicate layering of traditional materials with contemporary narrative depth.

The warm ochre background is alive with subtle texture and ethereal figures. Collectors prize Nilima Sheikh for her works in miniature art as well as murals and large-scale canvases.

2. Lot No.76 Krishen Khanna

Title: Bandwallas

Medium: Mixed media on paper

Winning Bid: ₹17,26,369

Krishen Khanna’s Bandwallas is a vibrant portrayal of one of his most beloved themes — the Indian Band. This artwork, rendered in bold blue and red, among other colours, is one of his vibrant portrayals of the music and band. The work evokes a feeling of nostalgia, as you can hear the sound and music of the bands at weddings or festivals. The hammer price of ₹17.26 lakh reflects both Khanna’s stature as a modern master and the enduring appeal of this subject.

3. Lot No. 130 Shanti Dave

Medium: Oil on board

Winning Bid: ₹15,17,999

This powerful abstract composition by Shanti Dave, one of India’s pioneering modernists, is a striking example of his textural explorations. Executed in oil on board, the work demonstrates his signature use of dense layering, bold colour contrasts, and gestural energy.

The surface is alive with movement: fiery reds and glowing yellows collide with deep blacks and earthy greys, creating a dynamic tension between light and shadow.

4. Lot No. 176 Krishen Khanna

Title: Bandwallas

Medium: Mixed media on paper

Winning Bid: ₹14,29,253

Krishen Khanna’s Bandwallas is another brilliant addition to his iconic series on Indian bands. In this work, two musicians in olive-green uniforms dominate the composition, their instruments rendered in glowing shades of orange and yellow. The textured handling of mixed media infuses the scene with both energy and intimacy. Collectors recognize that works from this series consistently attract competitive bidding, reinforcing their desirability.

At ₹14.29 lakh, this lot reflects both the enduring charm of Khanna’s Bandwallas and the strength of demand for his works at Giftex’s Modern & Contemporary Art Auction 2025.

5. Lot No. 216 Rajendra Dhawan

Medium: Oil on Fabric

Winning Bid: ₹ 13,92,612

Rajendra Dhawan, contemporary painter, worked mainly in oil with nearly all his canvases being subtle and poetic. This artwork by Rajendra Dhawan exemplifies the quiet intensity of his practice. Painted in oil on fabric, the work is dominated by deep earth reds and muted blacks. Dhawan’s brushwork is soft and restrained, layering pigment in such a way that the painting seems to breathe. Known as a “painter of silence,” Rajendra Dhawan developed a unique abstraction rooted in mood and atmosphere rather than geometry or narrative.

 

These top-performing lots not only fuelled the bidding wars but also highlighted the increasing demand for works by Indian contemporary and modern masters.

Why the Auction Was a Grand Success

The success of Giftex’s Modern & Contemporary Art Auction 2025 wasn’t accidental — it was built on strategic planning and execution:

1. Marketing & Promotion

Effective marketing and promotion are critical components of a successful art auction. Giftex leveraged social media platforms and email campaigns to stir interest in the auction.

2. Engaging Content

The marketing and content team at Giftex created engaging blogs, videos and other advertisements to keep collectors and bidders intrigued.

3. Meticulous Catalogue Creation

Each artwork was presented with high-quality images, detailed descriptions, provenance information, and artist insights. 

4. Seamless Online Auction Experience

The Giftex online platform ensured smooth registration, transparent bidding, and real-time updates — eliminating the barriers that once limited participation in traditional in-person auctions.

Tips for Bidders: How to Ensure Success in Future Auctions

For those looking to participate in upcoming Giftex auctions, here are some key strategies:

• Study the Catalogue Early – Understand the background and valuation of the lots that interest you.
• Set a Budget – Decide your bidding cap beforehand to avoid impulse overspending.
• Engage with Previews & Blogs – Giftex’s content often provides hidden insights into artwork significance.
• Register Early – Avoid last-minute technical glitches by completing verification well before the auction.
• Bid Strategically – Patience and timing often make the difference in securing a coveted lot.

What’s Next at Giftex?

Giftex continues to expand the boundaries of online collecting. Up next is September 2025, ‘A World of Collectibles’ Auction, featuring rare artefacts, luxury collectibles and unique treasures. The upcoming auction promises yet another opportunity for collectors to secure exceptional pieces. Collectors should stay tuned to our website and blogs for further updates.

Conclusion

The Giftex Modern & Contemporary Art Auction (Aug 22–23, 2025) not only delivered impressive sales but also showcased the vitality of India’s art market

The Giftex auction demonstrated the growing appetite for Indian art and the effectiveness of online auction platforms. The auction was more than just a sale; it was a spectacle of the highest order. It was a grand celebration of artistry, innovation and digital engagement. With an impressive ₹8.93 crore in sales and standout lots by artists like Nilima Sheikh, Krishen Khanna, Shanti Dave, and Rajendra Dhawan, among others, Giftex reaffirmed its role as a prestigious online auction house.