₹167 Crore Sale: Raja Ravi Varma 19th Century Masterpiece Becomes India’s Most Expensive Artwork

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The Indian art world has witnessed a landmark moment as a masterpiece created in the 19th century by Raja Ravi Varma has rewritten history. The renowned artwork by Raja Ravi Varma, titled Yashoda and Krishna, has achieved a new record in Indian art history by becoming the most expensive Indian artwork ever sold. The artwork was sold for an astonishing amount of ₹167.2 crore.

A Record-Breaking Sale

Photo Credit: Saffronart

The painting was auctioned at a Saffronart auction held on the 1st of April, 2026. It was a result of an intense bidding war, taking several minutes. It was bought by industrialist Cyrus S. Poonawalla, far beyond its estimated price.

The artwork is valued at approximately $17.9 million (₹167.2 crores), making it the costliest Indian painting auctioned worldwide.

This sale breaks the record of M.F. Husain's Gram Yatra, which was auctioned for approximately ₹118 crores in 2025.

About the Painting: Yashoda and Krishna

"Yashoda and Krishna," a creation of the 1890s, is believed to be one of the most popular works of art created by Raja Ravi Varma. The painting depicts a touching scene between Yashoda and little Krishna, which is part of the mythology, yet touches the heart with its portrayal of the mother figure.

This artwork, which was created in a realistic style by Raja Ravi Varma, reflects a mix of European and Indian styles, which made Raja Ravi Varma a pioneer in Indian modern art.

According to art experts, this painting is also considered to be one of those works which is universally appealing, as it is not only a scene from mythology but also a scene from real life, as it portrays a scene between a mother and her son.

Why This Sale Matters

While this is a record-breaking sale, it is not just about the money; it is also a reflection of a bigger shift in the way in which Indian art is being appreciated globally. There is a growing trend in which people are interested in buying more historical pieces of Indian art.

The paintings of Varma are no longer simply viewed as a collectibles but as a treasure of the culture. At the same time, the sale is a sign of the growing confidence that Indian art is a worthwhile investment on an emotional and financial level. Experts believe that this is the kind of sale that could have a ripple effect on the value of other Indian artists.

Who Was Raja Ravi Varma?

Raja Ravi Varma (1848-1906) is considered one of India's greatest painters. He contributed significantly to India's visual arts by:

• Popularising oil painting methods based on European styles
• Illustrating Indian epics such as Ramayana and Mahabharata in a realistic manner
• Popularising his artwork among the masses through printed reproductions

His artworks helped establish how Indians perceived characters from mythology, making Raja Ravi Varma an integral part of India's cultural and artistic history.