In 2006, the artist achieved a new high in the auction market with the sale of In Harmony (1960), offered in the Historical Series III by Osian's, which concluded on 24 November 2006 at New Delhi, achieving a sale price of ₹18,00,000 ($40,116). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.
Introduction
- Date of Birth
- 01 Aug 1927
- Zodiac sign
- Leo
- Place of Birth
- Madras, Tamil Nadu, India
- State Country of Birth
- Tamil Nadu, India
Chronicled Highlights 71960 – 2002
L Munuswamy was born in 1927 in Madras, Tamil Nadu, India.
In 2003, the artist achieved a new high in the auction market with the sale of Untitled (1962), offered in the Fn-Fn: Figurative Non-Figurative Narration: Auctions of Indian Modern & Contemporary Paintings & Books by Osian's, which concluded on 27 November 2003 at Mumbai, achieving a sale price of ₹1,10,000 ($2,397). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.
In 2006, the artist achieved a new high in the auction market with the sale of Poised For Combat (1962), offered in the Masterpieces & Museum Quality Series VI: With Rare Drawings and Books on Indian Contemporary Art by Osian's, which concluded on 01 March 2006 at New Delhi, achieving a sale price of ₹10,92,500 ($24,634). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.
In 2006, the artist achieved a new high in the auction market with the sale of Animals In Composition (1962), offered in the Historical Series III by Osian's, which concluded on 24 November 2006 at New Delhi, achieving a sale price of ₹22,80,000 ($50,813). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.
Munuswamy was learning to dream in colour, and though the line was ever-present below the surface of the paint, the artist seemed ready to allow his imagination a free reign. ..…one can see Munuswamy’s work alternating between monumental compositions – where he uses thick heavy coats of paint, placing the image squarely at the centre of his canvas, as in the image of a treetrunk or The Chair (his tribute to Van Gogh?), suggesting a distinct presence of its own – and an almost ethereal style where colours and forms are applied with the utmost delicacy.
In 2005, the artist achieved a new high in the auction market with the sale of Animal & Rider (1963), offered in the Indian Contemporary Art: Paintings, Drawings & Sculpture by Osian's, which concluded on 09 February 2005 at Mumbai, achieving a sale price of ₹8,05,000 ($18,446). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.
On 05 December 2002, L. Munuswamy made their debut in the Indian public auction market when Untitled was presented as Lot 67 in Masterpieces & Museum Quality Indian Modern & Contemporary Paintings, conducted by Osian's in Mumbai, India. This auction marked the artist's first recorded appearance in the public auction market, establishing the earliest chapter of their auction history.
Economics of Art
Record-high lots6
Public Auction Market (1987–2026) | Select Indicators
Annual Auction Sale Turnover
It aggregates all sales across global auction houses into yearly totals.
Analysis reflected in the chart:
The turnover graph highlights periods of strong growth, moments of market correction, and resilience during downturns. Peaks often align with landmark works coming to public auction, while troughs may indicate reduced supply or weaker demand. Over time, the curve illustrates the overall trajectory of L Munuswamy’s public auction market presence.
Average Sale Price Per Lot
It smooths out fluctuations caused by the quantity of works offered and focuses on the Average Sale Price level per artwork.
Analysis reflected in the chart:
Rising average sale prices indicate growing collector confidence and a stronger willingness to pay higher amounts per work. Assuming the mix of mediums remains relatively stable over time, the proportion of works on paper typically priced lower than works on canvas adds important context to understanding these market movements.
Square Inch Rate Trend
This allows fair comparisons between smaller works and larger canvases.
Analysis reflected in the chart:
The Square Inch Rate shown in the graph combines various medium types such as canvas, paper, board, and others. Historically, works on canvas and board have broadly commanded higher prices compared to works on paper.
Research Centre
Posts 1
- Tuli Research Centre for India Studies presents All Living Souls - Expressed in the Modern and Contemporary Fine & Popular Indian Arts Curated by Neville Tuli As part of launching the 16th Research Category for India Studies - "The Animal-Human-Nature-Continuum" we present a fascinating exhibition of modern and contemporary Indian fine and popular arts and their expression of the ideas and forms related to the dialogue between animals and humans, and the larger cosmic and spiritual thoughts which abide therein. Please visit the Exhibition and see the artworks by modern and contemporary masters such as Rabindranath Tagore, D.P. Roy Chowdhury, M.F. Husain, J. Swaminathan, J. Sultan Ali, Somnath Hore, Ganesh Pyne, Manjit Bawa, K. Laxma Goud, Krishna Reddy, Jyoti Bhatt, Rekha Rodwittiya, Amit Ambalal, among others, along with vintage and rare prints from the pioneering Indian chromolithographic presses such as Chitrashala, Ravi Varma, Calcutta Art Studio, Chore Bagan & Kansaripara.
Calendar 2
- ArchivedLaunch EventProject 4Tuli Research Centre for India Studies Youtube Channel Launch youtube.com/@TuliResearchCentre20th February 2025Tuli Research Centre for India StudiesRead More →
- ArchivedExhibitionProject 1Self-Discovery via Rediscovering India Series Inaugural Exhibition14th - 29th March 2024Inaugural ExhibitionRead More →
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