Tyeb Mehta painting fetches record ₹69.1 crore at Mumbai auction

A painting by Tyeb Mehta, one of India's most celebrated contemporary artists, has achieved a new auction record at ₹69.1 crore, underscoring the enduring demand for his work among collectors.

The 2002 composition was offered by Volte Una, the Mumbai-based auction house operated by Jivarajka, which employed a novel sales methodology for the transaction. Rather than conducting a traditional multi-lot auction, the gallery presented the single artwork as the exclusive offering, a format designed to concentrate buyer attention and investment.

Mehta, who passed away in 2009, remains one of the most significant figures in post-independence Indian modernism. His works, characterised by geometric abstraction and bold use of colour, have consistently commanded premium prices in the international art market.

The record sale reflects the strength of the Indian art market, particularly for works by established masters from the subcontinent's artistic canon. Collectors continue to view such pieces as both culturally significant and sound financial investments, with auction houses adapting their strategies to cater to high-value transactions.