A historic painting by Raja Ravi Varma has created a new Ravi Varma painting record. His artwork Yashoda and Krishna sold for 1.67 billion rupees, which equals about $17.9 million, at a major auction in Delhi.
The sale of this Indian art has made it one of the most valuable Indian paintings ever sold.
Indian Art: Breaking Previous Records
The market is now at new heights as collectors are willing to pay higher prices.Raja Ravi Varma was born in Kerala in 1848. He painted many mythological scenes.
Plan your future and that of the buyer
Businessman Cyrus Poonawalla purchased the painting. He is founder of Serum Institute of India. The artist called the painting a national treasure.
The Cultural Value of Legal Protection
This sale, according to experts will reinforce the perception of Indian art both as a cultural and financial asset.
Increased Interest and Market Impact
Leaders in the art industry say that this achievement will have a positive impact on the market. Experts say that more investors are likely to view Indian art. Now as an important financial asset and not only as decorative pieces or cultural items.
The future could see even greater valuations.
