Cyrus Poonawalla buys Raja Ravi Varma's Yashoda and Krishna for ₹167.2 crore, setting a new record for the most expensive Indian painting ever sold at auction
India was surprised to know that a canvas from the 19th century had been sold for 167.20 crores.
The iconic painting of Yashoda and infant Krishna by Raja Ravi Varma has made history, breaking the record as the most expensive Indian artwork ever sold.
This masterpiece, created in the 1890s, beautifully captures the love between a mother and her son. It depicts Yashoda milking a cow, churning butter, and Krishna, standing behind her, approaching her for milk.
Saffronart is a leading international auction house founded in 2000 by Minal and Dinesh Vazirani, with a particular focus on Indian art, Jewellery, and Antiques.
Though it was started in India, now Saffronart has offices and galleries in
New York
London
New Delhi
Mumbai
The auction for the artwork took place in Mumbai at Saffronart. The Elite collectors, art investors, and institutions are seen visiting Saffronart for this auction.
This painting reflects not only divine but also universal human emotions.
Before bringing the canvas to the auction, it was kept safely for decades in a private collection.
Its birthplace and history contributed to the intense bidding that drove the price to 167.20 crores, making it a record-breaking figure.
Raja Ravi Varma, born in the small village of Kilimanoor, Kerala, in 1848, stands as a monumental figure who bridged the gap between traditional Indian mythology and Western academic realism. He didn't just paint; he revolutionized how an entire nation visualized its own history and divinity.
By pioneering the use of oil on canvas, Varma brought a cinematic, three-dimensional depth to the figures of the Mahabharata and Ramayana. His work transformed abstract deities into relatable, human-like figures, effectively setting the "look" of Indian classical beauty for centuries to come.
The heart of Varma's legacy lies in his sympathetic and grand portrayals of mythological women. These weren't mere illustrations; they were character studies:
Shakuntala: His depiction of her - often looking back with a mix of longing and grace - became the definitive image of romantic Indian womanhood.
Sita and Draupadi: He captured their trials and dignity with a dramatic realism that resonated with the masses.
Damayanti: Her poise and elegance in his works helped establish the aesthetic standards for the modern sari and Indian grace.
Varma was more than a painter; he was a democratizer of art. By establishing the Lonavala Lithographic Press, he made high-quality prints of his work available to the general public.
"Before Ravi Varma, the gods lived in temples and palaces; after him, they lived in every Indian household."
His work remains a bridge between the classical past and the modern Indian imagination.
Dr Cyrus Poonawalla just dropped ₹167.2 crore on Raja Ravi Varma's masterpiece, Yashoda and Krishna. It officially becomes the most expensive Indian painting ever sold, smashing the previous record by a whopping ₹49.2 crore.
That's a massive 40% jump, proving that the market for India's "National Treasure" artists is at its highest, for a pioneer like Varma, who brought Indian gods to life on canvas, finding a home with one of India's biggest industrial pioneers feels like a full-circle moment.
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