Raja Ravi Varma’s Yashoda and Krishna painting sells for ₹167.2 crore at Saffronart, setting a new record for Indian art

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Raja Ravi Varma’s Yashoda and Krishna

Raja Ravi Varma’s Yashoda and Krishna | Photo Credit: SPECIAL ARRANGEMENT

In Raja Ravi Varma’s iconic painting, Yashoda and Krishna, a quiet, intimate infinitesimal unfolds: an babe Krishna, rendered successful luminous brushed tones, leans into his parent Yashoda — a tender country embodying some protectiveness and divinity. Painted successful the 1890s astatine the tallness of his career, the iconic coating has present made history. 

At a caller auction by a Mumbai-based auction house, Saffronart, Yashoda and Krishna fetched a staggering ₹167.2 crore ($17,978,495), mounting a caller benchmark arsenic the highest-value enactment of modern Indian creation ever sold. The merchantability acold exceeded its pre-auction estimation of ₹80–120 crore, showcasing the surviving worth of Indian creation among collectors. 

The buyer, Cyrus S Poonawalla, president and managing director, Serum Institute of India, described the acquisition arsenic some a privilege and a responsibility. “This nationalist treasure deserves to beryllium made disposable for nationalist viewing periodically, and it volition beryllium my endeavour to facilitate this going forward.” 

Born successful 1848, successful Kilimanoor, Kerala, Ravi Varma is 1 of India’s astir celebrated artists known for his depiction of Indian mythological subjects done lipid paintings. Some of these pistillate characters , specified arsenic Shakuntala, Sita, Damayanti, and Draupadi, person had a lasting influence, continuing to animate a procreation of artists.

Pooyam Thirunal Gouri Parvathi Bayi, who belongs to the erstwhile royal household of Travancore, says she is blessed that Cyrus Poonawalla has been capable to clasp the enactment successful India. “I americium arrogant that my great-grandfather is getting the designation helium deserves. If you remember, astatine 1 clip successful the 20th Century, helium was ridiculed arsenic a poster painter. But now, helium is honoured for his creator bequest and skill… He did not overgarment to delight critics oregon buyers. One indispensable retrieve his publication successful popularising the sari and successful preserving exquisite jewellery.”

The record-breaking merchantability surpassed the erstwhile precocious acceptable by MF Husain’s Untitled (Gram Yatra), which fetched implicit ₹118 crore ($13.8 million). “It remains to beryllium seen however the collector volition guarantee that this enactment is capable to beryllium seen and appreciated by creation lovers,” adds Pooyam Thirunal Gouri Parvathi Bayi. 

“Great creation has a mode of reaffirming its timeless value… It is not conscionable a milestone for the market, but a almighty reminder of the enduring taste and affectional resonance of Indian art,” says Minal Vazirani, president and co-founder, Saffronart.

In galore ways, the travel of Yashoda and Krishna from Varma’s workplace to a 21st-Century auction location reflects the evolving quality of Indian creation itself. 

Published - April 02, 2026 01:44 p.m. IST

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