New Delhi: Eminent Indian painter Raja Ravi Varma’s oil painting Yashoda and Krishna was sold for a record-breaking Rs 167.20 crore (USD 17,978,495) at Saffronart’s Spring Live Auction in Mumbai on Wednesday, making it the highest-value work of modern Indian art ever sold at auction.
The painting surpassed the previous record held by M.F. Husain’s Untitled (Gram Yatra), which fetched over Rs 118 crore at an auction last year.
Acquired by Dr Cyrus S. Poonawalla, managing director of the Serum Institute of India, the painting had been estimated at Rs 80–120 crore. Speaking about the acquisition, Poonawalla said, “I am privileged to have the opportunity to acquire, preserve, and care for the iconic Raja Ravi Varma painting Yashoda and Krishna. This national treasure deserves to be made available for public viewing periodically, and it will be my endeavour to facilitate this going forward.”
Painted in the 1890s, during the height of Varma’s career, the artwork presents a nuanced depiction of maternal love through the mythological figures of the infant Lord Krishna and his foster mother, Yashoda. The painting shows Yashoda milking a cow while Krishna reaches for a goblet of milk from behind, drawing viewers into a domestic scene that transforms into a participation in a larger, sacred narrative. It is widely regarded as one of Varma’s most significant and evocative compositions.
Commenting on the landmark sale, Minal Vazirani, president and co-founder of Saffronart, said, “Great art has a way of reaffirming its timeless value. The record-breaking sale of Raja Ravi Varma’s work not only underscores the strength of the art market, but also sets a new benchmark as the highest-value work of Indian art ever sold. At Saffronart, we are proud to have facilitated this milestone. It is not just a milestone for the market, but a powerful reminder of the enduring cultural and emotional resonance of Indian art.”
With PTI inputs