Tyeb Mehta's 2002 canvas fetches record ₹69.1 crore in single-lot auction
Tyeb Mehta’s 2002 acrylic on canvas sold for ₹69.1 crore at a Volte Una single-lot auction, setting a new record for the artist.
A 2002 acrylic by modernist Tyeb Mehta was sold for ₹69.1 crore at a Volte Una auction, establishing the highest price ever achieved for the artist and ranking among the top Indian artworks sold at auction. The sale eclipsed the earlier record of ₹61.80 crore set for Mehta’s “Trussed Bull” in April 2025. Jiwarajka’s single-lot format, which presents a solitary, hard-to-find work, was promoted to collectors in Mumbai, New Delhi, New York, Dubai and London before the 12-hour bidding window opened on October 11, with a starting bid of ₹33 crore and a 15 % buyer’s premium.
Art critic Uma Nair highlighted the painting’s continuation of Mehta’s rickshaw-puller theme, a symbol of labor and alienation, while auctioneer Tushar Jiwarajka said wealthy Indians are increasingly treating art as a store of value. The record reflects the broader rise of Indian modernist art in the global market, following recent multi-crore sales of works by Raja Ravi Varma and M F Husain.
Why it matters
The sale shows Indian modern art’s soaring market value and its emergence as a serious investment asset.
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