VS Gaitonde Painting the Costliest Indian Artwork Ever to Be Sold

Indian abstract painter VS Gaitonde’s untitled work sold for a whopping Rs 29.30 crore at Christie’s auction in 2015

William Robinson, Christie’s international head of world art, auctioning Vasudeo S Gaitonde’s 1995 Untitled painting in Mumbai. (Photo: IANS)

An untitled oil on canvas painting by Vasudeo S Gaitonde, one of India's foremost abstract painters, is the most expensive Indian artwork to be sold since 1965, fetching a whopping USD 4,415,008 (Rs 29.3 crore), according to a list by Artery India.

An Indian art market intelligence firm, the company has come out with 'Artery Top 500 Works', featuring the 500 most expensive Indian works of art which have been sold so far.

We have a thorough and exhaustive sales archive, spanning over five decades that offers unparalleled insight and market intelligence – this knowledge bank forms a significant component of our advisory stance and the direction offered to our clients.

Arvind Vijaymohan, Founder, Artery India

The late modernist painter’s untitled oil painting fetched its whopping Rs 29.3 crore at the Christie’s auction in Mumbai in 2015.

The coveted painting was grabbed by an anonymous international buyer over the phone.

Gaitonde, who died in 2001, is considered one of India’s most distinguished painters. The December 2015 sale set a new world record for Indian artwork.

Gaitonde’s untitled painting from 1995 broke the previous record of $4.01m (Rs 26.63 crore) paid for Goan Francis Newton Souza’s work at a sale in New York earlier this year, according to the London-based auction house, The Guardian reports.

It achieved a world record for any Indian work of art sold at auction.  

William Robinson, Christie’s International Head, World Art

Christie’s, the world’s largest auction house, made a total sale amounting to a whopping Rs 97.69 crore in the auction.

The auction, which included classical art for the first time, got a roaring reception as the tenth century granite figure of a Dvarapala sold for Rs 1.70 crore.

(With agency inputs.)