Vasari Art Codex

trending_up market schedule Apr 3, 2026 visibility 3 link 1 artist

Raja Ravi Varma Becomes The Highest Value Modern Indian Artwork At Auction

Raja Ravi Varma’s 1890s masterpiece "Yashoda and Krishna" has set a new record for the most expensive Indian artwork ever sold at auction. During Saffronart’s Spring Live Auction, the painting fetched Rs 167.2 crore (approximately $18 million), far exceeding its pre-sale estimate of Rs 80–120 crore. The work was acquired by billionaire Dr. Cyrus S. Poonawalla, chairman of the Serum Institute of India, who has pledged to make the national treasure available for periodic public viewing.

newspaper BW Businessworld open_in_new Read original

trending_up market schedule Feb 15, 2026 visibility 4 link 15 artists, 3 galleries

The Great Indian Art Mafia

The Indian art market has undergone a dramatic transformation, shifting from a selective market with works priced between Rs 5-25 crore to a high-stakes arena where record-breaking sales are now common. Between 2023 and 2025, multiple works crossed the Rs 50-100 crore threshold, with M.F. Husain's 'Gram Yatra' (1954) achieving the highest price to date at approximately Rs 118 crore, acquired by the Kiran Nadar Museum of Art. The market has expanded to over Rs 3,000 crore, with projections of Rs 10,000 crore by 2030.

newspaper The New Indian Express open_in_new Read original

trending_up market schedule Feb 15, 2026 visibility 4 link 15 artists, 3 galleries

The Great Indian Art Mafia

The Indian art market has undergone a dramatic transformation, shifting from a selective market with works priced between Rs 5-25 crore to a record-breaking phase where prices now routinely cross Rs 50-100 crore. Key sales include M.F. Husain's 'Gram Yatra' (1954) for approximately Rs 118 crore in 2025, currently the highest price for an Indian artwork, and significant price escalations for modern masters like Tyeb Mehta, S.H. Raza, and Amrita Sher-Gil.

newspaper The New Indian Express open_in_new Read original