At a recent auction in Mumbai by Saffronart, the oil painting ‘Yashoda and Krishna’ by renowned artist Raja Ravi Varma achieved a groundbreaking sale of Rs 167.2 crore (approximately $18 million). The bidding competition culminated in billionaire Cyrus Poonawalla, the industrialist and founder of the Serum Institute of India, acquiring the artwork.
This sale surpasses the previous record set by MF Husain’s ‘Untitled (Gram Yatra)’, which fetched over Rs 118 crore last year from Delhi-based collector Kiran Nadar. Initially estimated to fetch between Rs 80 crore and Rs 120 crore, the Varma painting exceeded expectations by doubling its projected value.
Expressing his sentiments to the Times of India, Poonawalla described the acquisition as both an honor and a responsibility. He emphasized the importance of making this national treasure accessible to the public on a periodic basis. Painted in the 1890s during the peak of Varma’s career, ‘Yashoda and Krishna’ is lauded as one of his most exquisite creations. The artwork portrays Yashoda milking a cow while infant Krishna reaches for a goblet of milk, inviting viewers to immerse themselves in the scene and envision a sacred narrative unfolding.
Previously part of a private collection in Delhi, the masterpiece went under the hammer at the auction. Raja Ravi Varma, born in 1848 into the esteemed Kilimanoor family of Travancore, is celebrated as a trailblazer in early modern Indian art. He introduced oil painting to India and blended European academic realism with Indian mythological themes, earning widespread acclaim for his distinctive style.
In 1894, Varma established a lithographic press to produce affordable prints of his works, bringing Hindu iconography into households across the nation. This initiative played a pivotal role in popularizing his art and making it accessible to a broader audience.
The acquisition of ‘Yashoda and Krishna’ by Cyrus Poonawalla marks a significant milestone in the realm of Indian art, showcasing the enduring appeal and value of Raja Ravi Varma’s artistic legacy.