India, Oct. 12 -- A 2002 acrylic on canvas by modernist Tyeb Mehta was sold at auction for Rs.69.1 crore, setting a record for the artist. The sum surpassed the Rs.61.80 crore achieved for Trussed Bull at a Saffronart auction in Mumbai in April 2025.

"A Tyeb Mehta at Rs.69.1 crore is a world record for the artist, and among the highest Indian artworks sold at auction. It shows what Indian modernism is worth when a museum-grade work meets serious buyers.

"Wealthy Indians are finally realising that art is a serious asset class, and store of value," said Tushar Jiwarajka, the auctioneer who made the sale.

Jiwarajka's auction house, Volte Una sold the piece in a new format that only puts up a single work of art for sale. The single-lot for...