Rare sketches by Raja Ravi Varma, works by Indian masters to go under the hammer at AstaGuru auction

A rare collection of 45 sketches by Raja Ravi Varma, spanning a range of subjects from intimate portraits to scenes of everyday village life, nature and mythological depictions, will highlight AstaGuru’s upcoming ‘Iconic Masters’ auction on November 23-24.

The registered antique set of 45 sketches on 36 sheets will lead the auction with an estimation of Rs 15-20 crore, followed by the works of nine other Indian visionaries, including MF Husain, Krishen Khanna, Amrita Sher-Gil, FN Souza, and Satish Gujral.

“Every piece stands out as a unique creation, reflecting his deep understanding of human expression and storytelling…Together, these works offer a rare glimpse into Varma’s artistic versatility and his ability to bridge tradition with modern sensibilities. This ensemble not only celebrates his enduring legacy but also highlights the timeless beauty of his vision,” the auction house said in a statement.

While Varma’s collection features preliminary sketches for his famous works “Gypsies of South India” and “The Student”, Sher-Gil’s “Portrait of Mother” shows a poised woman figure, her mother, in a deep red dress with a calm expression and complemented by elegant jewellery.

The work by the Hungarian-Indian artist, executed in circa 1930, is estimated to be acquired at Rs 10-15 crore.

Manoj Mansukhani, director, marketing - AstaGuru Auction House, said that the auction charts a “powerful arc of India’s modern art movement” by bringing together seminal works by the country’s most celebrated masters.

“...the catalogue not only reflects the richness and diversity of their creative vocabularies but also highlights their pivotal role in shaping the trajectory of Indian art. Their presence in this edition lends the auction both historic depth and cultural gravitas,” he said in a statement.

Another highlight of the auction will be Souza’s “Untitled (Nude After Henri Matisse)”, an oil on canvas work executed in 1986.

The work depicts a female figure sitting with quiet confidence against a vibrant, decorative backdrop, her gaze steady and self-possessed.

“The nude is no longer the tormented or transgressive body of Souza’s earlier expressionism; instead, she exudes a poised sensuality and self-awareness, framed by a space that celebrates colour, pattern, and form.” The painting is estimated to be acquired at Rs 2.5-3 crore.

Estimated to be acquired at Rs 2-3 crore, Krishen Khanna’s “Bandwallas (Diptych)” depicts the energy of a band in motion.

The overlapping forms and mirrored figures suggest movement and harmony, reflecting the collective performance of the band itself.

Part of Husain’s early exploration of form and symbolism, rendered in his Cubist-inspired style, and featuring his signature horse motif, “Warrior” (1951) is estimated to be sold at Rs 1.5-2.5 crore.

The auction also features an “Untitled Horse” by Husain. An acrylic on fabric work, set against a deep black background, the composition distils movement into an almost calligraphic gesture with Husain’s trademark bold brushwork. It is estimated to be sold at Rs 1.5-2.5 crore.

Works by Thota Vaikuntam, Jamini Roy, KG Subramanyan, and KH Ara will also go under the hammer at the auction.