Raja Ravi Varma’s 'Yashoda and Krishna' Breaks Auction Records at ₹167.20 Crore

Original: From myth to masterpiece: Raja Ravi Varma’s legacy shines in landmark auction milestone

The Economic Times•Apr 5, 20265 min

In a Nutshell

Raja Ravi Varma's painting 'Yashoda and Krishna' sold for ₹167.20 crore ($17.97 million) at a Saffronart auction, setting a new record for the artist. This sale reflects a growing appreciation for Indian art and the significance of historical works in the market.

Key Points

01The painting 'Yashoda and Krishna' sold for ₹167.20 crore, surpassing its estimate of ₹120 crore.
02The auction was held by Saffronart and purchased by industrialist Cyrus Poonawalla.
03Experts believe this sale highlights the increasing value placed on historical and quality artworks.
04Raja Ravi Varma's legacy continues to influence the perception of Indian mythology in art.
05The auction reflects a more mature art market with a focus on rarity and provenance.

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Full Summary

Raja Ravi Varma’s iconic painting 'Yashoda and Krishna' achieved a remarkable sale price of ₹167.20 crore ($17.97 million) at a recent auction conducted by Saffronart, breaking previous records for the artist. The painting was sold to industrialist Cyrus Poonawalla, and the auction's co-founder, Minal Vazirani, described the event as a moment of 'reclaiming history.' The sale underscores a growing appreciation for Indian art, emphasizing the significance of rarity and provenance in driving prices. Experts like Ashish Anand, CEO of DAG, noted that this trend encourages collectors to view important artworks as legacy assets. Gitanjali Maini, from the Raja Ravi Varma Heritage Foundation, expressed excitement over the increasing demand for Ravi Varma's portraits, which are now valued as historical pieces. This auction not only sets a new benchmark for Ravi Varma but also reflects a more mature art market where quality and historical context are paramount.

Key Figures