London: Indian artist Syed Haider Raza's work 'Saurashtra' fetched a record £ 2,393,250 (USD 3,486,965) at the famous Christie's in London on Thursday.
Raza's work, done in 1983, considered a monumental painting, was bought by a private Indian Museum.
"This sale represents records of every kind. The monumental work Saurashtra by Syed Haider Raza set a world auction record not only for the artist but for any modern Indian art in history.
"We are thrilled that this work will return to India as a fitting tribute to the artist and a celebration of art from this region," Hugo Weihe, Christie's International Director of Asian Art and Yamini Mehta, Head of Sale, said in a joint statement.
The two-day sale of South Asian Modern Contemporary Art including property from The Estate of Francis Newton Souza of India realised a total of £ 12,462,425 and was 98 per cent sold by value and 91 per cent sold by lot.
Showing the depth of enthusiasm and passion to obtain rare objects, the sale realised an overall total of £ 12. 4 million, becoming the most valuable sale of this category in history, they said in the statement.
Elsewhere in the various owner section of the sale, a carefully selected array of iconic works by modern and contemporary masters was met with true enthusiasm and depth of bidding throughout.
"Six new artist world auction record prices were set, including Aisha Khalid; Sunil Gawde, Naiza Khan, Imran Qureshi, and Saren Pors/ Aparna Rao.
"We are honoured that Maqbool Fida Husain attended the auction and pleased that he saw all works by his hand sell successfully," the statement said.
Masterworks by Subodh Gupta, Gaitonde and Tyeb Mehta all roared past their high estimates.
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