Iconic 19th-Century Painting by Raja Ravi Varma Sells for Record £13.4 Million
An oil painting by the renowned Indian artist Raja Ravi Varma has achieved a historic milestone, becoming the most expensive work of modern Indian art ever sold at auction. The 19th-century masterpiece, titled Yashoda and Krishna, fetched an astonishing Rs1.67 billion, equivalent to £13.4 million, during Saffronart's Spring Live Auction in Mumbai. This sale marks a significant moment in the art world, with the final price far surpassing the pre-sale estimate of Rs800 million to Rs1.20 billion, or £6.5 million to £9.78 million.
Breaking Records and Setting New Benchmarks
The painting's sale broke the previous record for Indian art, which was held by MF Husain's Untitled (Gram Yatra) at over Rs1.18 billion, or £9.62 million. Painted in the 1890s during the peak of Varma's career, Yashoda and Krishna depicts a domestic scene drawn from Hindu mythology. The composition shows Yashoda, the foster mother of the infant god Krishna, milking a cow while the child reaches for a goblet of milk behind her. This artwork is widely celebrated for transforming an everyday moment into a scene that suggests participation in a larger sacred narrative, and it is considered one of Varma's most significant works.
Buyer's Pledge and Public Accessibility Concerns
The painting was acquired by Cyrus S Poonawalla, the managing director of the Serum Institute of India. In a statement, Poonawalla expressed his privilege in acquiring, preserving, and caring for this national treasure. He pledged to make the painting available for public viewing periodically, as reported by NDTV. However, despite this commitment, questions linger about how frequently the work will be accessible to the public. Reflecting this uncertainty, Pooyam Thirunal Gouri Parvathi Bayi, a member of the Travancore royal family, told The Hindu that it remains to be seen how the collector will ensure the artwork can be seen and appreciated by art lovers.
Escalating Valuations in the Indian Art Market
The sale represents a sharp escalation in valuations for Indian art, with the final price significantly exceeding expectations. Minal Vazirani, president and co-founder of Saffronart, commented on the sale, stating that great art has a way of reaffirming its timeless value. She noted that the record-breaking sale not only underscores the strength of the art market but also sets a new benchmark as the highest-value work of Indian art ever sold. Vazirani emphasized that this is a milestone for the market and a powerful reminder of the enduring cultural and emotional resonance of Indian art.
Raja Ravi Varma's Legacy and Influence
Raja Ravi Varma, born in 1848 in Kilimanoor in present-day Kerala, is often described as a foundational figure in modern Indian art. Known for combining European techniques of oil painting with Indian themes, he produced thousands of works, many inspired by epics such as the Mahabharata and Ramayana. His portrayals of deities like Lakshmi, Saraswati, and Vishnu helped shape widely recognised visual representations of Hindu mythology. Although he gained prominence among aristocratic patrons across India, Varma also sought to broaden access to art. In 1894, he established a lithographic press in Bombay to reproduce his paintings as oleographs, allowing wider circulation of his work. These prints remained influential well into the 20th century and inspired later popular visual culture, including illustrated comic series.
