Indian Art Market Achieves Record-Breaking Sales

The Indian art market has witnessed unprecedented growth, with Saffronart reporting total sales of ₹217.81 crore ($29 million) at its recent auction. A highlight was Tyeb Mehta's 1956 painting "Trussed Bull," which sold for ₹61.80 crore ($7.27 million), nearly nine times its higher estimate, setting a new record for the artist and becoming the second-highest valued artwork by an Indian artist sold at auction globally. The Indian Art Investor 2024-25 Art Market Report indicates that the turnover from the sale of Indian Modern and Contemporary art at auctions globally for the year reached ₹1,016 crore.

Smita Tripathi