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Progress Report

On the auction circuit, midyear spring sales act as a performance review, revealing what has been achieved (or earned) so far and how much farther there is to go before annual sales targets are reached. With the global economy still enduring a slowdown and collectors holding on tighter to their cash, what makes or breaks a sale boils down to the most basic—but critical—attribute: quality.

The spring season began in London at Christie’s South Asian Modern and Contemporary Art sale on May 26 where VS Gaitonde’s luminous gold-and-black textured painting from 1975 was the…

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