Saffronart's 25th anniversary sale sets global record at Rs 355.77 crore

New Delhi, Sep 28 (PTI) From Gaitonde's meditative canvasses to Husain's sprawling epics, masterpieces drove Saffronart's 25th anniversary evening sale in New Delhi to a record-breaking Rs 355.77 crore, setting a global milestone for South Asian art, the auction house announced on Sunday.

The white glove auction on Saturday featured 85 lots and saw V S Gaitonde's 1970 untitled work go under the hammer for Rs 67.08 crore, setting a new world record for the artist and becoming the second most expensive Indian artwork sold worldwide.

The sale also featured modernists like M F Husain, Tyeb Mehta and F N Souza, alongside contemporary artists such as Nalini Malani.

"Tonight's result is a landmark moment for Saffronart and modern Indian art. The auction brought together an extraordinary selection of works, and collectors responded to the rare opportunity of acquiring works of art historical importance with tremendous enthusiasm," Saffronart CEO and co-founder Dinesh Vazirani said. The auction house said the sale reaffirmed its leadership in the South Asian art market for more than 25 years.

Among the standout sales, Tyeb Mehta's Trussed Bull (1956) fetched Rs 56.4 crore -- eight times higher than its estimate -- while Jehangir Sabavala's The Anchorite (1983) sold for Rs 16.80 crore, marking the second highest value for the artist globally.

Another record was set by F N Souza's seminal Six Gentlemen of Our Times (1955), which sold for Rs 20.40 crore, the highest value for a work on paper by a South Asian artist at an auction globally.

M F Husain's Mahabharata (1990), commissioned for the opening of the Nehru Gallery of Indian Art at the Victoria and Albert Museum in London, sold for Rs 21.60 crore, while S H Raza's Rajasthan (1972) fetched Rs 18 crore.

Other notable sales included Nalini Malani's Nursery Tales (2008) at Rs 3.60 crore -- her highest auction price globally -- Walter Langhammer’s Barken am Zattere (Rs 38.40 lakh), Jyoti Bhatt’s 1956 self-portrait (Rs 50.40 lakh), and a 2010 untitled work by Sohan Qadri (Rs 72 lakh).

"Our 25th Anniversary evening sale set a historic milestone, surpassing the record we set in April 2025 by more than 60 per cent," said Saffronart president and co-founder Minal Vazirani, adding, "From an idea to an institution, this sale marks a new benchmark for the Indian art market." PTI MAH SKY OZ OZ