Image Credit: Al Jazeera
Indian art has reached an unprecedented milestone as a painting by MF Husain, Untitled (Gram Yatra), was sold for a staggering $13.8 million (approximately ₹119 crore). The sale, which took place at Christie’s on March 20, marks the highest price ever paid for an Indian artwork at auction.
The artwork had remained largely unseen in Norway for decades before its record-breaking sale. Though Christie’s identified the buyer only as an “unnamed institution,” it is widely believed that the painting was acquired by the Kiran Nadar Museum of Art (KNMA). Kiran Nadar, a noted art collector and philanthropist, is a trustee of KNMA and the wife of HCL founder Shiv Nadar.
This sale nearly doubles the previous record set by Amrita Sher-Gil’s The Story Teller, which was auctioned for ₹61.8 crore in September 2023. The previous highest price for a Husain painting stood at ₹26.8 crore ($3.1 million) for Untitled (Reincarnation), sold in London last year.
Business leader Harsh Goenka revealed on social media that Gram Yatra had originally been a gift to Oslo University Hospital from Dr. Volodarsky. He noted that the proceeds from the sale would be directed toward the establishment of a medical training centre.
According to art market experts, this historic auction highlights the growing global recognition of Indian modern art. Nishad Avari, head of South Asian Modern and Contemporary Art at Christie’s, described the event as a landmark moment, reinforcing the extraordinary momentum of the South Asian art market.
Despite a recent 18.3% dip in art prices as per the Knight Frank Luxury Investment Index, the long-term trajectory remains strong, with a 54% rise over the past decade.
