New Delhi: Raja Ravi Varma’s painting Yashoda and Krishna has become the most expensive modern Indian artwork ever sold at auction, fetching a whopping Rs 167.2 crore. Industrialist and Serum Institute of India founder Cyrus S Poonawalla bought the oil painting after an intense bidding war at a Saffronart auction on Wednesday.
Varma, known for blending European technique and Indian sensibility in his painting, made the painting, titled ‘Yashoda and Krishna’, in the 1890s, and it has his signature. The 35 x 28.25-inch painting depicts maternal love through the mythological figures of Krishna and his foster mother Yashoda. The painting was sold for more than double its pre-sale value of Rs 80 crore to 120 crore.
Born into an aristocratic family in Travancore, Varma’s artwork significantly influenced how Hindu deities are visualised in Indian households.
Poonawalla said that he sees the acquisition as a privilege and a responsibility. He further said that painting should be made available for public viewing periodically, adding that he will endeavor to facilitate this.
Saffronart president and co-founder Minal Vazirani said that it was a defining moment for the Indian artwork market and that it was not just a milestone but a powerful reminder of the emotional resonance of Indian art and culture.