Record-Breaking Auction: Raja Ravi Varma's Masterpiece Leads the Charge

In a remarkable display of art appreciation, Mumbai-based auction house Saffronart recently conducted two consecutive white glove sales, amassing a combined total of Rs 301.45 crore. The sales marked a significant milestone with Raja Ravi Varma's 'Yashoda and Krishna' leading the proceedings, selling for an astounding Rs 167.20 crore.

This sale represents a new world auction record for South Asian art, surpassing its initial estimate of Rs 120 crore. CEO Dinesh Vazirani expressed excitement over setting a new benchmark for Indian art, coinciding with Saffronart's 25th anniversary.

Overall, the auctions featured 145 lots, with notable records broken for modern Indian artists, further proof of the Indian art market's growth and international appeal. Other notable sales included works by M F Husain and S H Raza, with a large percentage of items exceeding their estimates.