Kochi, April 4 (IANS): At least 40 artists have donated their artworks for an auction to be held in Mumbai on April 7 to raise funds for the Kochi Biennale Foundation (KBF).

The 108-day second edition of Kochi Muziris Biennale concluded here on March 29.

The auction will be conducted as part of KBF's efforts to create a corpus to make the biennale self-sustaining and will largely help in dispelling organisational hitches, a statement said on Saturday.

The auction will be held in collaboration with Saffron Art with a preview at 6.30 p.m. at the Taj Lands End, Mumbai followed by registration at 7.00 p.m. and live auction at 8.00 p.m.

The organisers have made the auction available online. Those who are unable to be at the auction can bid online through the Saffron Art website or phone.

The online auction is open now at http://www.saffronart.com/auctions/Kochi-Muziris-Biennale-Fundraiser-Auction-2015-3742 and will close after the live auction is over.

Although, the foundation has been receiving financial aid from the Kerala government, delays in funding have affected events.

"Despite varied funding sources, securing adequate and timely funding continues to be a biggest challenge for future editions of the biennale," said KBF founder-president Bose Krishnamachari.

KBF co-founder and secretary Riyas Komu said the auction is a self-generated funding initiative where artists have come together to support the only biennale in the world that is conceived, led and curated by artists.

Artist Navjot Altaf, whose work 'Mary wants to read a book' was part of KMB 2014 felt the biennale is an artists' initiative and so they should work collectively to bring contemporary art from across the world for the benefit of people here.

"I like to support an activity like the biennale so that it continues in the coming years," said the Mumbai-based artist, who is donating a sculpture 'Sirha' for the auction.