Vasari Art Codex

trending_up market schedule Apr 3, 2026 visibility 4 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 6 link 15 artists, 2 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 6 link 15 artists, 2 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

trending_up market schedule Dec 29, 2025 visibility 4 link 9 artists, 6 galleries

India’s art market sees major resurgence in 2025; M F Hussain’s work breaks record

India's art market experienced a major resurgence in 2025, driven by record auction sales for modernists like M.F. Husain, Tyeb Mehta, and V.S. Gaitonde. Husain's 'Gram Yatra' became the first Indian painting to sell for over USD 10 million, setting a new benchmark. The boom is fueled by India's strong economy, rising private wealth, digital platforms, and increased global recognition. The India Art Fair in Delhi and the launch of India Art Fair Contemporary in Mumbai highlighted strong sales, with galleries selling 90% of their stands on preview day. A reduction in India's goods and services tax on art from 12% to 5% further boosted the market, while independent reports estimate Indian art auctions reached Rs 2,456.7 crore, up over 20% from the previous year.

newspaper The Statesman open_in_new Read original

trending_up market schedule Dec 19, 2025 visibility 2 link 17 artists, 3 galleries

top auction moments of 2025 2712941

Artnet News rounds up the standout auction moments of 2025, highlighting both triumphs and disappointments. M.F. Husain's *Untitled (Gram Yatra)* (1954) smashed expectations at Christie's, selling for $13.8 million—more than double the artist's previous record and the first South Asian Modern work to exceed $10 million. In contrast, Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (1922) fell short of its $50 million estimate at Christie's, missing the artist's auction record, while Alberto Giacometti's *Grande tête mince* (1955) failed to sell at Sotheby's despite a $70 million asking price, underscoring market volatility.

newspaper Artnet News open_in_new Read original

museum exhibitions schedule Dec 4, 2025 visibility 4 link 4 artists

m f husain museum qatar 2723322

Qatar has unveiled a new museum dedicated entirely to the late Indian Modernist artist M.F. Husain, titled Lawh Wa Qalam: M.F. Husain Museum. Located in Doha's Education City, the museum houses over 150 artworks spanning from the 1950s to his death in 2011, including paintings, poetry, photography, tapestries, sculptures, and installations. The museum, opened on November 28 by the Qatar Foundation chaired by Sheikha Moza bint Nasser, fulfills a long-held dream of the artist, who was granted Qatari citizenship in 2010 after self-imposed exile from India. The building was designed by architect Martand Khosla based on a sketch Husain himself created for his envisioned museum.

newspaper Artnet News open_in_new Read original

trending_up market schedule Nov 25, 2025 visibility 2 link 13 artists, 8 galleries

India’s art market is fast growing—is it also maturing?

The third edition of Art Mumbai (13-16 November) saw strong sales and record auction prices for Indian Modernists, including MF Husain's *Gram Yatra* (1953) becoming the first Indian painting to sell for over $10 million. The fair, held amid surging private wealth in India, featured leading contemporary galleries reporting up to 90% sales on opening day, with works priced from $1,000 to $300,000. A recent reduction in India's goods and service tax on art from 12% to 5% has further boosted the market.

newspaper The Art Newspaper open_in_new Read original

trending_up market schedule Oct 17, 2025 link 3 artists, 1 gallery

kiran nadar bought m f husain record breaking painting christies 1234757841

Kiran Nadar, a prominent Indian collector, revealed she purchased M.F. Husain's 1954 painting *Untitled (Gram Yatra)* for $13.8 million at Christie's New York, making it the most expensive work of Indian modern art ever sold at auction. The painting, estimated at $2.5–3.5 million, was originally owned by Norwegian surgeon Leon Elias Volodarsky and later donated to Oslo University Hospital, which consigned it after a 13-year deaccessioning process.

newspaper ARTnews open_in_new Read original

trending_up market schedule Oct 17, 2025 link 2 artists, 1 gallery

kiran nadar bought m f husain record breaking painting christies 1234757841

Kiran Nadar, a prominent Indian collector, revealed she purchased M.F. Husain's 1954 painting *Untitled (Gram Yatra)* for $13.8 million at Christie's New York, making it the most expensive work of Indian modern art ever sold at auction. The painting, originally owned by a Norwegian surgeon and later donated to Oslo University Hospital, was consigned after a 13-year deaccessioning process. Nadar and her husband Shiva, who have ranked on ARTnews's Top 200 Collectors list since 2019, will add the work to their collection of over 15,000 pieces, many displayed at the Kiran Nadar Museum of Art in Delhi.

newspaper ARTnews open_in_new Read original