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Indian Art Smashes Records: Varma Painting Fetches Rs 167.2 Crore
2 Apr
Summary
- Raja Ravi Varma's 'Yashoda and Krishna' sold for Rs 167.2 crore.
- The painting is now the most expensive modern Indian art ever sold.
- Cyrus Poonawalla plans to make the artwork available for public viewing.
Cyrus Poonawalla, founder of Serum Institute of India, has made a landmark acquisition in the Indian art market. His purchase of Raja Ravi Varma's painting 'Yashoda and Krishna' for Rs 167.2 crore has established it as the most expensive work of modern Indian art ever sold at auction. This sale significantly surpassed its pre-sale estimate of Rs 80 crore to Rs 120 crore.
Poonawalla described the acquisition as both a privilege and a responsibility, stating his intention to facilitate periodic public viewing of this "national treasure." Raja Ravi Varma, a pivotal artist born in 1848, was renowned for blending European techniques with Indian sensibilities. He also pioneered mass production of his art through lithography, making Hindu iconography accessible to many.
The painting, 'Yashoda and Krishna,' created in the 1890s, is celebrated for its tender portrayal of maternal love. Minal Vazirani, president and co-founder of Saffronart, hailed the sale as a defining moment, underscoring the enduring cultural resonance of Indian art.
