Saffronart’s 25th anniv auction sets record at Rs 355 cr

From Gaitonde’s meditative canvasses to MF 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 VS 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.

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