A regular feature on the Indian art calendar is Saffronart’s annual Spring Online Auction, which will take place exclusively on www.saffronart.com from March 12 – 13, 2008. The sale includes works by 55 contemporary artists, including globally sought painters and sculptors, and has a lower estimate of just over US$ 4million. Featuring a total of 140 lots, this will be the twentieth online auction conducted by Saffronart.

This auction’s repertoire includes Surendran Nair’s monumental canvas ‘Doctrine of the Forest: An Actor at Play (Cuckoonebulopolis)’ featured on the front cover, an installation by Subodh Gupta titled ‘Feast for Hundred and Eight Gods 2’, featured on the back cover, and works by Atul Dodiya including the large work on paper, ‘Vansha Vriksha’, executed in 1999. The catalogue also includes significant works on canvas by Sudhir Patwardhan from the 1970’s, important works by T.V. Santhosh, Bharti Kher and Shibu Natesan, an intricately patterned Jayashree Chakravarty canvas, and a large watercolour by Anju Dodiya.

Dinesh Vazirani, Cofounder and Director of Saffronart, says, “Contemporary Indian art is attracting increasing attention in the global art market. Some of the artists, whose works have been included in this auction, have been actively sought after at art exhibits and art fairs around the world. I’m sure this auction will fetch very good returns for the artists and the collectors.”

Online auctions, pioneered by Saffronart, have transformed the landscape of Modern and Contemporary Indian Art, making it accessible to participants who are constrained by geographical and physical limitations and opening it to a wide spectrum of international art lovers. Saffronart, established by Dinesh and Minal Vazirani, has set global benchmarks for online art auctions, and has recently been included in a case study at the Harvard Business School.

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About Saffronart-

Saffronart has been instrumental in fundamentally changing the market for Modern and Contemporary Indian art. With its professionalism and transparency, it has contributed to the burgeoning international and domestic interest in Indian art, and in the process established itself as the leader in Modern and Contemporary Indian art auctions.

Minal Vazirani, Cofounder and Director of Saffronart, says, “Contemporary Indian art has moved up the global ladder simultaneously with India being recognized as an emerging economic power. We have so far tapped only a small portion of the worldwide appetite for Contemporary Indian art.”

“I believe the works of art in the current Saffronart auction offers serious collectors as well as firsttime buyers, worldwide, with a wide range of art forms to choose from to add quality and diversity to their collections”, she added.

For further details on the auction, please contact us: India: Punya Nagpal/Nishad Avari Tel: (91 22) 2432 2898/2436 4113 or Email: auction@saffronart.com USA: Anu Nanavati Chaddha Tel: (212) 627 5006 or Email: newyork@saffronart.com UK: Abha Housego Email: london@saffronart.com

Media Contact:

Suparna Ganguly, CMCG India Pvt. Ltd., (9122) 24450991/2/3, (91 99) 30313920