Diverse collectors, matured context & the renewed interest in South Asian art

What is going on with South Asian art? A lot if you have been following the secondary art market and auctions.

- Arvind Vijaymohan

NEW DELHI: In the past few weeks alone, we have seen the price threshold of major Indian artists being reset. Maqbool Fida Husain shattered all expectations when on March 19, Gram Yatra, an early work of his, sold for ₹118 crore at a Christie's auction. Prior to this, Husain's highest priced work was Untitled (Reincarnation), a large-format canvas, also from the 1950s, that achieved ₹26.7 crore, having sold in 2024.

Last week, Saffron Art posted the highest sale yet recorded for South Asian Art on day one of its two-day Modern and Contemporary Indian art sale. Tyeb Mehta, Husain's contemporary and close friend, sold for ₹61.8 crore.

With Wednesday's sale of "Trussed Bull", Mehta's price point has now been reset thrice over the past 36 months, twice in close succession in 2022—₹36.8 crore and ₹41.9 crore. Mehta is now tied with Amrita Sher-Gil as the second highest work of art sold at an auction.

What does the recent spate of sales tell us about Indian art?