HacocoValuation Intelligence
ArtistsMarketShopRun Valuation
Blue Chip

S. H. Raza

Indian·1922–2016·Progressive Artists' Group

Known for his geometric Bindu paintings, Raza spent decades in France before returning to India, achieving record auction results.

Auction prices have appreciated 156.4% over 5 years. 243 results across major Indian houses.

High data confidence
Auction lots
243
verified records
1-year return
+31.7%
price-per-cm²
3-year return
—
sale mix varies
Market tier
Blue Chip
Legendary

Notable Works

Highest-value sold lots at auction.

Artist Appreciation Index

Collector Annual

Price-per-cm² normalised across 243 verified lots, indexed to 100 at first sale date.

1Y Return

+31.7%

Sensex -7.9%

3Y Return

Limited data

Sensex +12.4%

5Y Return

+156.4%

Sensex +42.2%

Annualised (5Y)

+20.7%

Based on 243 auction results. Confidence: High. BSE Sensex monthly closes via Yahoo Finance (^BSESN). Updated May 2026.

Liquidity Score

Collector Annual

Based on auction frequency, sell-through rate, house diversity, and recency.

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Market Activity

Collector Annual

Yearly hammer prices and lot volumes across all auction houses.

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Notable Repeat Sales

Collector Annual

Named works that have appeared at auction more than once, showing price evolution.

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Auction Results

Collector Annual

All scraped results from AstaGuru, Saffronart, Pundole's and Bonhams.

Result:
Year–
Date ↓HouseWork ↕MediumSizeEstimateHammer (INR) ↕vs Est.
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Price Distribution

Collector Annual

Number of works sold by INR price bracket.

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Collector-grade valuation intelligence for the Indian secondary art market.

Important Disclosures

Hacoco (“the Platform”) is not registered as an Investment Adviser under the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, and does not provide investment advice as defined under applicable SEBI regulations. Nothing on this Platform constitutes investment advice, a solicitation, an offer to buy or sell any security or asset, or a recommendation of any kind.

Artworks are not securities or regulated financial instruments under the Securities Contracts (Regulation) Act, 1956, the SEBI Act, 1992, or other applicable Indian law. Valuation estimates, index data, and market commentary are informational and directional only. They should not be relied upon as a definitive assessment of value or as a basis for any financial, legal, or tax decision.

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*Past auction realisations do not guarantee future results. Art is an illiquid, quality-sensitive asset class subject to significant variation based on artist reputation, period, medium, provenance, condition, authenticity, rarity, and prevailing collector demand. The Indian secondary art market is unregulated and price data may be incomplete, delayed, or subject to revision.

*Auction evidence used for valuations is drawn from publicly available records. Sources, dates, and realized prices are referenced where available. Hacoco does not warrant the accuracy or completeness of any third-party data. Specific artwork valuations require professional comparable-led analysis by qualified chartered valuers, legal advisers, and tax consultants.