Hyderabad: A historic moment has unfolded in the Indian art world. A masterpiece by Raja Ravi Varma, titled Yashoda and Krishna, has become the most expensive Indian painting ever sold at auction. The artwork fetched an astonishing Rs. 167.2 crore at a Saffronart auction in Mumbai, far exceeding its estimated price of Rs. 80-120 crore.
Painted in the 1890s, the artwork captures a tender moment between mother Yashoda and infant Krishna. The scene blends human emotion with divine symbolism, showcasing Varma’s signature style of realism combined with Indian mythology.
The painting is considered one of his finest works, reflecting both artistic brilliance and cultural depth. It transforms an everyday domestic moment into a sacred narrative, which continues to resonate with audiences even today.
Bought by Cyrus Poonawalla
The painting was acquired by billionaire Cyrus S Poonawalla, founder of Serum Institute of India. He described the purchase as both a privilege and a responsibility.
Poonawalla stated that the artwork is a national treasure and should be made accessible for public viewing. His intention is to preserve and showcase it for art lovers in the future.
Breaking previous records
This sale has surpassed the earlier record held by M F Husain’s Untitled (Gram Yatra), which was sold for over Rs. 118 crore. The new record highlights the growing global recognition and value of Indian art.
Experts believe this milestone reflects strong demand, deep appreciation, and rising confidence in Indian artworks as both cultural assets and investment opportunities.
Legacy of Raja Ravi Varma
Born in 1848 in Kerala, Raja Ravi Varma is one of India’s most celebrated artists. He is known for bringing mythological characters like Shakuntala, Sita, and Draupadi to life through oil paintings. His work played a key role in shaping how Indians visualise their gods and cultural stories.
The record-breaking sale of Yashoda and Krishna not only honours his legacy but also marks a defining moment for the Indian art market.
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