The Most Expensive Paintings Ever Auctioned in India

India’s modern and contemporary art market has been on a remarkable ascent, both culturally and financially. In recent years, iconic works by India’s master painters have fetched astronomical sums at auctions, signalling a growing global appetite for South Asian art.

Auctioneers and curators say India’s art market is witnessing an unprecedented boom, driven by a surge of art fairs, galleries, and exhibition spaces across the country’s cities and towns.

While industry insiders estimate that the market is currently worth $338 million—up exponentially from $2 million at the turn of the century and predict it will expand to $1.1 billion by 2030 according to a reports BBC.

With this booming market as a backdrop, here’s a look at the most expensive Indian paintings ever sold at auction, culminating in a record-breaking moment in 2025:

Most Expensive Indian Paintings Ever Auctioned

Here's a list of 6 record breaking and most expensive Indian paintings ever sold at auction

Untitled (Gram Yatra) by M.F. Husain

Price: ₹118 crore ($13.8 million)
Year Sold: 2025
The crown jewel of Indian auction history, Untitled (Gram Yatra) shattered all previous records when it was sold for a staggering ₹118 crore in March 2025. A sweeping canvas that captures the vibrancy of rural India, this late-period work cements M.F. Husain's legacy as the undisputed titan of Indian modernism.

M.F. Husain's OPCE 3, OPCE 25, and OPCE 23Pundole's

The Storyteller by Amrita Sher-Gil

Price: ₹61.8 crore ($7.4 million)
Year Sold: 2023
This evocative portrait of village women seated in conversation is a masterclass in Sher-Gil’s fusion of European technique and Indian subjectivity. The Storyteller held the title of India’s most expensive painting until 2025, and remains the highest-priced work by a female artist in the country’s auction history.

Gestation by S.H. Raza

Price: ₹51.75 crore
Year Sold: 2023
A profound exploration of form and symbolism, Raza's Gestation from 1989 marks the peak of his metaphysical period. The painting’s sale underlined Raza's continued relevance and the spiritual intensity of his geometric abstractions.

Untitled (1971) by V.S. Gaitonde

Price: ₹42 crore ($7.57 million)
Year Sold: 2022
A radiant golden canvas layered with subtle textures and faint shapes, Gaitonde’s Untitled exudes both energy and tranquillity. As reported by the BBC, this painting headlined a record-breaking Saffronart auction in Delhi that fetched $40.2 million (£29.9 million), the highest-ever total for South Asian art in USD. Gaitonde's work alone sold for nearly three times its estimate, making it India's second most expensive painting to date.

The fervent bidding around this piece added momentum to an already strong auction season for Indian art, highlighting the global collector demand for Indian modernism.

Trussed Bull by Tyeb Mehta

Price: ₹32 crore ($4 million)
Year Sold: 2021
Painted in 1999, Trussed Bull is one of Tyeb Mehta’s final major works and a powerful symbol of the themes that defined his career including struggle, violence, and the tension between movement and restraint. The image of a bound bull becomes a haunting metaphor for societal and personal conflict. When it sold for ₹32 crore at a Pundole’s auction in 2021, it became one of Mehta’s most valuable works, reaffirming his status as a pillar of Indian modern art.

Trussed Bull by Tyeb Mehta (1956)Saffron Art

Radha in the Moonlight by Raja Ravi Varma

Price: ₹23 crore
Year Sold: 2016
A romanticised vision of divine love, Radha in the Moonlight stands as a rare gem from Raja Ravi Varma’s oeuvre. Auctioned for ₹23 crore, this 1890 work represents the oldest painting on the list and is a testament to Varma’s enduring appeal and influence on Indian visual culture.