Seoul Gets an Intriguing New Art Fair—Plus, a Rundown of the Latest in Asia’s Art World

The Asian art landscape is undergoing significant shifts, headlined by the launch of Hive Art Fair in Seoul, which introduces a fee-free booth model focused on B2B corporate collaborations. Major institutional moves include the appointment of Melissa Chiu as the new director of the Guggenheim Museum and the opening of the Black Gold Museum in Riyadh. Meanwhile, the Hong Kong Museum of History has reopened with a controversial thematic revamp that emphasizes Chinese heritage over colonial history.

New £5.5m record for Islamic glass leads London sales

The spring Islamic and Indian art auctions in London, held at Sotheby's and Christie's in late April, achieved strong results despite geopolitical tensions. Sotheby's Arts of the Islamic World & India sales totaled £14.8m, while Christie's Art from the Islamic and Indian Worlds sale and the Mary and Cheney Cowles collection brought in £17.6m. The top lot was a rare 14th-century Mamluk gilded glass bowl from the Toledo Museum of Art, which sold for £5.5m—a new auction record for Islamic glass. Other highlights included a 17th-century Mughal astrolabe that sold for £2m at Sotheby's, setting a record for an Islamic scientific instrument, and strong sales of Iznik ceramics from two old English collections.

Gulf art market feels the force of Middle East conflict

The ongoing conflict in the Middle East, involving the US, Israel, and Iran, has disrupted the Gulf region's art market. Key events like Art Dubai have been postponed, and the inaugural Frieze Abu Dhabi faces uncertainty, as the area's stability—crucial for attracting international dealers and auction houses—is now in question.

Christie’s Kiran Nadar Exhibition Is the Latest Indicator of the South Asian Art Market’s Growing Importance

Christie’s London will host “The Meeting Ground,” a non-selling exhibition of works from the Kiran Nadar Museum of Art (KNMA) in New Delhi, from July 16 to August 21, 2025. The show features Indian modernists such as M.F. Husain, S.H. Raza, K.G. Subramanyan, and F.N. Souza, alongside contemporary South Asian artists, Indigenous art practitioners, and diaspora artists. Admission is free. The exhibition follows a series of record-breaking auction sales for South Asian art, including Husain’s *Untitled (Gram Yatra)* (1954) sold at Christie’s New York for $13.8 million in March 2025 and Raja Ravi Varma’s *Yashoda and Krishna* (ca. 1890s) sold at Saffronart for $17.9 million.

All Things Art You Cannot Miss This April

The Indian art scene is set for a bustling April 2026 with a series of high-profile exhibitions across major cities like Delhi and Mumbai. Key highlights include Subodh Gupta’s monumental installations at the Nita Mukesh Ambani Cultural Centre, a photographic tribute to Bombay by Raghubir Singh at Jhaveri Contemporary, and the public viewing of Raja Ravi Varma’s iconic 'Yashoda and Krishna' at the ShowKeen exhibition. These shows span a diverse range of media, from Akanksha Patil’s introspective narratives on migration to Laila Khan Furniturewalla’s raw, expressive paintings.

Auction Record in India

Record aux enchères en Inde

The Indian art market has reached a new milestone with the sale of Raja Ravi Varma’s painting, 'Yashoda and Krishna,' which fetched $17.9 million (including fees) at a domestic auction. The masterpiece was acquired by the prominent industrialist Cyrus Poonawalla, setting a new world record for an Indian painting sold at auction.

India Modern Art Boom Spreads Through Spring Auctions

The Indian modern art market has reached a significant milestone as a 19th-century oil painting by Raja Ravi Varma sold for nearly $18 million at auction. The sale of 'Yashoda and Krishna' reportedly involved high-profile Indian tycoons from the pharmaceutical and consumer industries acting as both buyers and sellers, signaling a robust domestic appetite for blue-chip Indian masterpieces.

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.

$17.9 million Raja Ravi Varma painting sets new record for Indian painting at auction.

A painting by Raja Ravi Varma titled 'Yashoda and Krishna' sold for $17.9 million at a Saffronart auction in Delhi, setting a new auction record for an Indian painting. The buyer was pharmaceutical billionaire Cyrus Poonawalla, founder of the Serum Institute of India.