India, Sept. 28 -- The highest-ever sale of South Asian art at a global auction was achieved on Saturday, with a white glove auction totalling Rs.355.77 crore ($40.20 million) held in Delhi by auction house Saffronart.

The evening sale, which concluded shortly before midnight, saw records broken for modern Indian artists Vasudeo Santu Gaitonde, Francis Newton Souza, and Tyeb Mehta, as well as contemporary artist Nalini Malani.

"Tonight's result is a landmark moment for Saffronart and for modern Indian art. The auction brought together an extraordinary selection of works, and collectors responded to the rare opportunity of acquiring works of art historical importance with tremendous enthusiasm. This sale has set a new benchmark for the I...