Our Bureau
Mumbai
A famous painting by Raja Ravi Varma has made history by selling for a record price. The work, Yashoda and Krishna, fetched ₹167.2 crore at a Saffronart auction.
This oil painting from the late 19th century shows baby Krishna on his foster mother Yashoda’s shoulders as she milks a cow. It captures playfulness and maternal love with earthy and jewel-toned colours. Auction house Saffronart said the sale marks the highest value for modern Indian art ever at auction.
The painting had a pre-sale estimate of ₹80–120 crore (US$ 8.6–12.9 million). It sold for much more and was bought by Cyrus B Poonawala. He called it a privilege to acquire and preserve this iconic piece. Saffronart’s President and Co-founder Minal Vazirani said the sale shows the timeless value of great Indian art.
This beats the previous record set last year by MF Husain’s Untitled (Gram Yatra), which sold for over ₹118 crore (USD 13.8 million) at Christie’s. Other high sales include Amrita Sher-Gil’s The Story Teller at ₹61.8 crore in 2023 and Tyeb Mehta’s Trussed Bull at the same price in April 2025. At that auction, VS Gaitonde’s 1970s oil on canvas went for ₹67.8 crore.
Raja Ravi Varma’s art is popular across India, seen in calendars, bazaar prints, and even designer saris. The Lukshmi Vilas Palace in Vadodara holds the world’s largest private collection of his works. Poonawalla plans to display Yashoda and Krishna for the public in future.
The sale signals a booming Indian art market, as experts say values will keep rising.
