Varma’s realistic depictions of scenes from Hindu epics and mythology are widely recognised in India – so much so that prints of his works are often found in household shrines.
Yashoda and Krishna is an oil-on-canvas painting from the 1890s, when Varma was at the height of his career. It portrays a sweet moment between Hindu deity Krishna as a child and his foster mother Yashoda.
In the painting, Yashoda is seen milking a cow, while Krishna stands beside her holding a cup and waiting. The child has a mischievous look in his eyes while Yashoda’s face reflects warmth and care. Their ornaments are minimal, but intricately detailed.
“Varma’s genius lies in this very balance: the sacred rendered through the familiar,” the Raja Ravi Varma Heritage Foundation, which promotes and preserves Varma’s legacy, wrote in an Instagram post last month, before the auction.
“The textures of silk, the gleam of jewellery, the softness of skin and the gentle stillness of the cow together create a scene that is both devotional and intimate.”
The image of Krishna and Yashoda has long inspired artists across South Asia, who have depicted them in songs, temple carvings and local painting traditions. But Varma portrayed them in a more natural way, as art historians have noted.
Artist A Ramachandran wrote that while an “iconographical image of god [usually] evoked awe and not love and affection”, Varma changed that, breaking the distance between Krishna and the person looking at the painting.
The record sale also spotlights how collectors are increasingly willing to pay a premium for Indian art which has historical and cultural significance.
Anand of DAG told the BBC that there is a “clear shift in how Indian art is being perceived”.
“As the market matures and benchmarks rise, collectors are recognising both its cultural and financial value,” he said, adding that fundamentally, it was quality that was driving this momentum.
“The best works – those with provenance, rarity and historical significance – are now commanding extraordinary prices, reflecting the maturing of the market.”
Experts add that exclusivity is also pushing prices higher. Many masterpieces by artists such as Varma, Amrita Sher-Gil and VS Gaitonde are either in private collections or rarely come up for auction.
There is also a growing recognition of mythology as a serious and desirable genre within the global art market, Anand said.
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