The news out of Hong Kong has been solid so far, even if it continues the trend of meeting or beating lowered expectations. After a year of abuse, I think art collectors, gallerists and the artists themselves are eager for any good news they can claim. September was rough, according to ArtPrice, "with no room for over-bidding or risk-taking." There was only one contemporary artist, Andy Warhol, who has met expectations, so far.

But, there's room for hope: Jitish Kallah.

Kallah's only 35 years old. Born in Bombay, his work has been described by ArtPrice as "crisis-immune." The market for contemporary Indian art has been in a hard way, with the Christie's South Asian Modern & Contemporary auction last month bringing in only $5.1 million in sales – where the presale estimate was $5.6 million. Yet, Kallah's work set a new record, with "Dawn Chorus – 7" going for $320,000 and beating its high-end estimate by a factor of three.

Meanwhile, Warhol continues to deliver. A piece from his "Flower" series in 1964 went for $895,000 at Christie's in late September and a "Cambell's Soup Can (Tomato Soup)" fetched $310,000 a day later at Sotheby's.

So, we have fear and hope in October. This week, both Sotheby's and Christie's will hold auctions in the photography segment, with Phillips de Pury following next week. And, there are London sales coinciding with the Frieze Art Fair.

Let's see if art collectors are ready to dress their walls again.

Contrary to popular belief in certain quarters, polo is not just a rich people's pastime confined to the Hamptons and Palm Beach; nor is it merely an extremely lucrative clothing empire founded by Ralph Lauren. In fact, it's an ancient and noble game, as well as the world's oldest team sport, that has evolved into an entire way of life. In her upcoming book Polo: The Nomadic Tribe (available for pre-order on Amazon), photographer Aline Coquelle chronicles all aspects of the ultimate equestrian pursuit, tracing polo from its nomadic origins to the incomparably chic lifestyle it encompasses today. Coquelle, who studied art and anthropology, traveled around the world for five years photographing and writing about each significant place along the route of polo's evolution, capturing all its courage, strength, speed, style, beauty, elegance and allure.

Polo was first played in Persia well before the 1st century AD. Warlike tribesmen played it with as many as 100 to a side in what was essentially a miniature battle. Later on it was passed from Persia to other parts of Asia including the Indian subcontinent and China, where it was very popular during the Tang Dynasty. The name polo is said to have been derived from the Tibetan word "pulu", meaning ball. The first polo club was established in the town of Silchar in Assam, India, in 1834. The British, who are seen as the main proponents of the sport today, picked it up in India and the classic style of the colonial era with its overtones of aristocrats and army officers gives polo much of its current cachet, cleverly marketed by the aforementioned Mr. Lauren and others.

Divided into geographic sections, Coquelle's book presents the sport on a global scale. At locations around the world, "the vibrant green carpeted fields, the carefully ornamented players, the brilliant sheen of their horses, and the deep brown leather of their saddles" provides an aesthetic link between polo's devotees - the "nomadic tribe" of the title. She reveals the essence of what has historically been called the "Sport of Kings" and the passion of its players from across the globe. Designed to be "the ultimate book on the sport of polo," Coquelle offers "an homage to beauty in pursuit of a modern perspective" while maintaining the spirit and sophistication of this centuries-old game. See the gallery for a preview of some stunning images from this incredible book.

On October 7th Christie's in London will auction the collections of Academy Award-winning filmmaker Ismail Merchant (above) of Merchant Ivory fame, the production company noted for evocative all-star adaptations of the works of Henry James, E. M. Forster and others. Works of art, furnishings and textiles from Merchant's stylish residences in London, Paris and the Hudson River Valley, as well as a small selection from his New York apartment, will be on offer. The Indian-born producer passed away in 2005. Estimates range from £500 to £70,000 (about $115,000) for the pieces which reflect Merchant's "fascination with the encounter between Eastern and Western cultures." In addition, the auction will feature a small group of film memorabilia including some props from various Merchant Ivory films such as a bookcase from Howard's End and a replica of Pablo Picasso's L'Homme a la Guitare from Surviving Picasso.

[via JustLuxe]

Last month we wrote about the famed "Star of India" 1934 Rolls-Royce Phantom II convertible custom made for an Indian Maharaja, slated to be auctioned off by a German collector. Now the incredible car has been listed for sale via online global luxury marketplace JamesList for £8 million, or about $13 million. If it fetches that price, the one-of-a-kind Rolls could capture the world's most expensive car title (in terms of confirmed sales), beating out the 1957 Ferrari Testa Rossa that recently sold at auction for $12 million. The 40/50 HP Continental "All-Weather Convertible" features polished aluminum bodywork and saffron paint evoking the Indian spirit of Hindutva. The car is being sold off by famed Rolls-Royce collector Hans-Günther Zach, who's liquidating his private museum dedicated to the marque.

American history doesn't have too many famous love stories that I can recall. At least none that ended up with the creation of a national landmark. Then again, I don't know what the full story behind the Washington Monument! In 1653 the Taj Mahal was completed in India. It took 23 years to make and was designed not for any specific functional purpose, but as a monument to a rulers fallen love. It is the story between Mughal Empire ruler Shah Jahan and the love of his life (and third wife) Mumtaz Mahal. She bore him 13 children, and they started "going out" when she was just 14, married at 19. Story has it, that although Shah Jahan was allowed, maybe even expected, to take several wives under the then practice of polygamy, he was so taken with Mumtaz Mahal that he shows little interest in other wives besides her. When she died, Shah Jahal was so mournful, that he had the Taj Mahal built for her, where her body was finally placed, 23 years after she died.

In tribute to this last memory of love, Angular Momentum releases an artistic watch with a hand painting of Mumtaz Mahal on the front, and Shah Jahan on the back. Each painting is done in verre eglomise enamel in the reverse of a sapphire crystal in traditional Indian artistic form. The watch is about 41mm wide in steel, and has diamonds decorating the bezel and lugs. Inside is a Swiss automatic mechanical movement with a rotating disc to show the time. The Angular Momentum Shah Jahan & Mumtaz Mahal watch will come in a limited edition of just 5 pieces. Likely to be over $30,000.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Another jeweler is closing up shop in the U.S. Indian jewelry chain Tanishq had just two stores in the United States, one in Paramus, New Jersey and one in Schaumburg, Illinois. The first store in the U.S. opened just last summer and the company had planned to open 25 more stores around the U.S. The brand's stores had a relaxing spa-like theme and the jewelry collections carried names like Zen, Yoga and Gingko. While it looked like they were off to a strong start in the beginning, the economic downturn eventually compelled the brand to look for investors to help keep it alive in the U.S. When none where forthcoming, the brand decided to shut down the two stores which it did last month.

[via National Jeweler]

Of all the countries that I've traveled to, India was among the most fascinating -- and the most intense. I'll never forget the feeling of overwhelm when I landed in Mumbai after a 16 hour Continental flight direct from Newark. I stepped out of the airport, into the hot night and to a sea of cab drivers clamoring for my attention. Suddenly, and somehow, a slim young man appeared in front of the throng, and calmly said "Mrs. Wellner?". He was carrying a Greaves Tours sign and a bottle of water, and at that moment (and many times thereafter, as I traveled throughout the country) I was incredibly relieved to have arranged my trip through that Chicago-based, family-owned company.

There are many countries where you don't need a tour guide or a driver, and India is just not one of them. Greaves arranges thoughtful custom packages with the country's most luxurious hotels, and engages experienced English-speaking guides and drivers so you can relax and take in the total-body sensory experience that is India. One driver that Greaves engaged during my trip observed, as he simultaneously leaned on the horn, steered the van through traffic coming at us in every direction (that included at various intervals elephants, donkeys, people, cows) and smiled, that Formula One champ Michael Schumacher could drive faster than him, but no way could he negotiate the roads of India as well as he could. I do believe he was right.

Greaves is offering several discounts, specials and sales this summer, but if your July is looking a little slow, check out the 10 day 'Royal Deal' package to Delhi, Agra, Jaipur and Udaipur. It's being offered at half its usual price, so fly British Air's Business Class from New York, stay at Taj hotels, enjoy top-notch tours and transfers and other perks from $6,885, per person, double. The highlight just may be your stay at the Taj Lake Palace Hotel, pictured here, and which you might recognize from the James Bond movie Upon arrival, as you disembark from the ferry boat, you are literally showered with rose petals. Book and travel by July 21st, 2009.

Remember AIG's shirt deal with soccer team Manchester United? AIG had a four-year $100 million deal which runs until 2010 but will not be renewing, leaving the team with the prospect of finding a new sugar daddy and it's looking like it has set its sights on India. India's Sahara Group is in talks with Manchester United to become the new shirt sponsors. Sahara, an unlisted group with interests from financial services to real estate, sees it as a way to encourage Indian soccer players and fans. For the team, it represents a chance to expand their global fanbase. This seems to be a growing trend in sports, that a team has fans that spread far beyond the hometown, but nowhere is it more true in European football which, although not big in the U.S., truily is a global sport.

Reuters reports that another Indian conglomerate, Tata group also received a sponsorship proposal from Manchester United back in March. The Sahara deal will likely be similar to AIG's contract and in the same price range. Sahara's Subrata Roy is expected to be in London on June 5 to finalize the deal.

Royal Enfield, the storied British motorcycle brand, has issued a new Classic edition of its Bullet bike that's a beautiful homage to the 1950s original. Royal Enfield, founded in 1893 ,which has a strong military tradition and made rifles as well as motorcycles for the British army in India (where the company is now based) has "Made like a gun, goes like a bullet" as its motto.

The Royal Enfield Bullet 500 Classic has modern technology complementing retro looks, with a 500 cc air cooled engine with electronic fuel injection and digital electronic ignition. A spring loaded seat, tool box, headlamp cap and period dials are all true to '50s form. Available in black, deep maroon and a teal green it will be priced at about $6,500 when it arrives here this summer.

Go Philanthropic is offering a unique way to see India next December. You can join the grandsons of M.K. Gandhi on a one-of-a-kind philanthropic adventure. The trip, which runs from December 1-6 with an optional extension to December 11 offers an in-depth look at current social and development projects in India. The trip will support the Gandhi Memorial School project aimed at protecting children from child labor and exploitation.

Group members traveling commit to contributing $1000 per person, for a collective goal of raising $10,000 for the Gandhi Memorial School to create either a new classroom or a water well. Travelers will also see significant sights in towns including Mumbai, New Delhi, Agra (Taj Mahal), and Jaipur.

The trip begins with a visit to M.K Gandhi's residence in Mumbai, visits to Women's India Trust and MarketShare, organizations focused on women's empowerment, education and vocational development, the group contribution and visit to Sunanda Gandhi Memorial School in Kolhapur and a meeting with Verala HIV prevention program. The optional extension includes a visit to the Taj Mahal and a tour of Old and New Delhi including Delhi Street Walk guided by former street children now supported by important youth development programs. The experience is not voluntourism but is instead an opportunity to travel and see a place from a different angle than one might usually experience. The trip includes carbon offset and promises to be a life-changing journey.

The trip will cost around $3,300 plus the $1,000 donation for standard accommodations or there is a five-star option for around $6,000. Go Philanthropic also does custom travel for individuals, family and groups.

Amanresorts has opened their latest sumptuous resort, the Aman New Delhi which is located near landmarks in the city including Humayun's Tomb, Purana Qila and India Gate. The hotel was designed by Australian architect Kerry Hill and has 31 rooms and 36 one-, two- and three-bedroom suites located in the main nine-story building or in a five-story structure overlooking the courtyard and hotel pool.

Some rooms and suites also have their own internal plunge pools. The resort combines traditional Indian design with a modern minimalism. The floors are olive-hued Khareda stone with handmade rugs in muted earth tones and dark wood panels. Jaali screens provide terraces and exteriors cast shadow patterns onto stone walls and floors. All rooms feature terraces with outdoor seating and are equipped with WiFi, Bose sound systems and flat-screen televisions.

The AmanRestaurant offers Indian and Thai specialties at breakfast, lunch and dinner, as well as afternoon tea. The Lodhi Restaurant, in a three-story structure with floor-to-ceiling windows framing a reflecting pool has a tapas lounge on the lower level and Catalan cuisine on the entry level and second floor. The restaurants utilize organic produce from the gardens of the Aman hotels in Rajasthan, Aman-i-Khás and Amanbagh.

As you might expect there is a tranquil spa which incorporates traditional Indian healing techniques. The spa has eight treatment rooms, two traditional hammam steam baths and a bamboo garden relaxation area. One nod to India's past is a fleet of Ambassador automobiles is available for local sightseeing.The Aman Ambassadors have upgraded retro interiors. Rates start at $670.

India's luxury goods industry is reeling from the recent terror attacks in Mumbal. As the Wall Street Journal reports, the Taj Mahal Palace hotel, a luxury hotel, was one of the main focuses of the attack and it is also home to luxury boutiques from Louis Vuitton, Bulgari and Fendi. The Oberoi Trident Hotel, which was also under attack, houses other luxury brands including Salvatore Ferragamo. It has been reported that some of Ferragamo's employees were held hostage. The sieges by Islamist militants, which have left 120 dead and hundreds more injured, focused on wealthy foreigners.

Luxury brands have increasingly looked to India as a growing source of revenue over the last couple of years. The International Herald Tribune had planned its annual luxury conference at the Imperial Hotel, New Delhi, from Dec. 2-4 but that has now been postponed. While most experts don't see a big long-term impact on luxury markets in India after the attacks some do feel that brands may be more cautious about investing in India in the short term.

The Times of London has come up with a new list of the world's 10 richest streets based on property prices. The most expensive street on the globe, unsurprisingly, is in ultra-rich Monaco - Avenue Princess Grace, to be exact, where average prices run about $17,000 per sq. ft. It's a pretty safe bet that anyone with an address there is a millionaire at the very least. In second place is Severn Road in Hong Kong's Victoria Peak district (above), where the average price is about $11,000 per sq. ft. Here are the rest of the runners-up:
No. 3 - Fifth Avenue, New York
No. 4 - Kensington Palace Gardens, London
No. 5 - Avenue Montaigne, Paris
No. 6 - Ostozhenka, Moscow
No. 7 - Via Suvretta, St, Mortiz, Switzerland
No. 8 - Carolwood Drive, Beverly Hills
No. 9 - Wolseley Road, Sydney, Australia
No. 10 - Altamount Road, Mumbai, India

On September 18, Sotheby's will auction 118 lots of rare (and rarely at auction) Indian and Southeast Asian paintings, miniatures and objects. The group is expected to fetch a total of between $2.3 and $3.2 million. Sotheby's has experienced unusually high prices for traditional Indian art in recent years, as economic growth in India appears exponential, and young collectors turn from modern pieces to those artists' historical roots.

One highly anticipated lot is a museum-quality illustration that depicts a pair of ardent lovers, Krishna and Radha, characters from a 12th century poem. The illustration, seen above thanks to ArtDaily, is estimated at between $200,000 and $300,000.

Pratham USA was started in 1994 by UNICEF, with the goal to educate the children of India in the areas of reading writing and basic math. Based on the principal that children who attend school make more productive members of society and are less likely to fall into poverty, Pratham works by improving India's schools instead of replacing them or imposing new ways of life. Recently Google awarded a $2 million grant to Pratham to assist their efforts! Check out the amazing work this organization is doing here.