India, April 2 -- A 35 x 28.25-inch oil painting by Raja Ravi Varma sold for Rs.167.2 crore at the Saffronart spring auction on Wednesday, making it the costliest Indian painting to be sold in an auction till date. Titled Yashoda and Krishna, the work was made by the feted Indian artist in the 1890s and bears his signature. "It shows the immense value of our culture, and the lengths that collectors are willing to go to acquire such a work," Dinesh Vazirani, co-founder and CEO of Saffronart said after the sale.
Vazirani declined to comment on the identity of the buyer.
However, Raja Ravi Varma's works are classified as national treasures and are thus non-exportable, making the buyer an Indian collector.
"This is a defining moment for th...
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