Auction sets record for highest-value sale in South Asian art history

Tyeb Mehta's new record matches Amrita Sher-Gil's to become second most expensive work by an Indian artist

Weeks after late Maqbool Fida Husain’s painting, Untitled (Gram Yatra), set a new record for modern Indian artwork, going for a staggering Rs 118.7 crore ($13.75 million) at a Christie's auction, Saffronart’s 25th Anniversary Live Sale set another world record – for the highest-value auction of South Asian art.

 

Saffronart’s auction of 75 works, on April 2, achieved a total sales value of Rs 217.81 crore ($25.62 million), and the online auction on April 3 bagged Rs 27.43 crore, together accounting for Rs 245 crore. It also set a world record for Tyeb Mehta, whose seminal work, Trussed Bull, 1956, sold for Rs 61.80 crore ($7.27 million) – nearly nine times its higher estimate. This sale ties Trussed Bull with Amrita Sher-Gil’s The Story Teller (1937) as the second highest-value work by an Indian artist sold at auction. Amrita Sher-Gil’s The Story Teller had sold for the same price in 2023.

 

This also turned out to be a “white glove” sale, with 100 per cent of the lots finding buyers, and 80 per cent – including several rare works – surpassing their higher estimates.

 

Another masterpiece by Mehta —Untitled (2006) — sold for Rs 9 crore ($1.05 million), exceeding its higher estimate. Both works originated from the Mehta family collection, and their sale marked the launch of a year-long tribute celebrating the artist’s birth centenary. The commemoration, in collaboration with the Tyeb Mehta Foundation and Saffronart Foundation, will feature a publication, documentary film, portfolio of prints, and a major exhibition at Art Mumbai later this year.

 

Among other standout works to go under the hammer was Amrita Sher-Gil’s Still Life with Green Bottles and Apples (1932), which sold for Rs 24 crore ($2.82 million), exceeding its higher estimate. Sher-Gil painted only a handful of still lifes, making the work an auction rarity.

 

FN Souza’s Supper at Emmaus (1987) fetched Rs 15.30 crore ($1.8 million), more than doubling its higher estimate. The piece is part of Souza’s 1980s series depicting Biblical themes, inspired by Caravaggio’s iconic 17th-century painting.

 

Other highlights included Edwin Lord Weeks’ Lake at Oodeypore, India (circa 1893), which commanded Rs 12 crore ($1.41 million), setting the second-highest artist record globally; and Sakti Burman’s Durga (circa 1995), which sold for Rs 7.20 crore ($847,059), achieving the artist’s second-highest value at auction. 

Untitled, Circa 1928, by Hemendranath Mazumdar sold for Rs 5.04 crore. PHOTOS: Courtesy of Saffronart

Lake at Oodeypore, India, Circa 1893, by Edwin Lord Weeks sold for Rs 12 crore. PHOTOS: Courtesy of Saffronart

 

Sakti Burman’s Durga, Circa 1995, sold for Rs 7.20 crore. PHOTOS: Courtesy of Saffronart

 

Supper at Emmaus, 1987 by F N Souza sold for Rs 15.30 crore. PHOTOS: Courtesy of Saffronart