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Historic Sale of Raja Ravi Varma's Masterpiece at Auction

A stunning painting by Raja Ravi Varma, titled 'Yashoda and Krishna', has set a new auction record, selling for ₹1.67 billion. Acquired by Cyrus S. Poonawalla, this artwork not only highlights the artist's mastery but also reflects the deep cultural significance of maternal love in Indian tradition. The sale surpassed expectations and broke previous records, marking a significant moment in the art world. Discover more about this historic event and the painting's rich background.
By Narendra Chaudhary Apr 2, 2026, 16:30 IST

Record-Breaking Auction for a Timeless Artwork


A remarkable painting by the renowned artist Raja Ravi Varma (1848–1906) has achieved a historic milestone, fetching an astonishing ₹1,67,20,00,000 ($17,978,495) during Saffronart's Spring Auction. The artwork was acquired by Cyrus S. Poonawalla, the founder of the Serum Institute of India. This sale significantly surpassed the pre-auction expectations, which ranged from ₹80,00,00,000 to ₹1,20,00,00,000.


Entitled Yashoda and Krishna, this masterpiece was created in the 1890s, a period when Ravi Varma was at the height of his artistic prowess. It is regarded as one of his finest creations. According to Saffronart, the painting delves into the universally relatable theme of maternal affection, depicted through the mythological characters of the infant Lord Krishna and his foster mother Yashoda, a narrative deeply embedded in Indian culture and spirituality.


The portrayal of Yashoda with Krishna holds a significance in Indian art that parallels the Madonna and Child in European tradition. This imagery has a rich visual legacy, appearing in temple sculptures as well as in various classical and folk painting styles throughout India. By embracing a naturalistic approach instead of adhering strictly to traditional iconography, Ravi Varma successfully integrates the divine into everyday life, as noted by Saffronart.


This sale has set a new benchmark, surpassing the previous record held by M. F. Husain’s Untitled (Gram Yatra), a vast mural that sold for an impressive $13.8 million (£10.6 million) at Christie’s in New York.