Full Breakdown
Tyeb Mehta’s “Rickshaw Puller” Sets Record at Volte Una’s Inaugural Single-Lot Auction
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Record Sale Details
Tyeb Mehta’s 2002 acrylic-on-canvas *Rickrickshaw Puller* sold for INR69.1 crore at Volte Una’s inaugural single-lot auction, including a 15 % buyer’s premium. The price makes it the fourth-most expensive Indian artwork ever sold at auction in rupee terms.
Artist and Work Background
Tyeb Mehta (1925–2009), a leading figure of the Progressive Artists’ Group, is known for stark compositions that explore human struggle. *Rickshaw Puller* belongs to the final decade of his career and revisits a motif first painted in the early 1960s, set against a stark green backdrop.
Market Context and Single-Lot Model
Volte Una presents one major work at a time, offering private viewings to vetted collectors before a 12-hour online/telephone bidding window. Founder Tushar Jiwarajka says the format reduces transaction costs and gives each work “its own space” rather than competing with dozens of lots.
Data & Statistics
- Sale price: INR69.1 crore (incl. 15 % buyer’s premium).
- Previous Mehta record: INR61.80 crore for *Trussed Bull* (April 2025, Saffronart).
- Ranking: fourth-most expensive Indian artwork; the top three are Raja Ravi Varma’s *Yashoda and Krishna* (INR167.2 crore) and two works by M F Husain (INR118 crore and INR119 crore).
- Auction format: single-lot, flat 15 % buyer’s premium, 0 % seller’s premium.
- Provenance: acquired by collector Amrita Jhaveri in 2002, resold to a US-based collector in 2021.
Verbatim Quotes
- “Wealthy Indians are finally realising that art is a serious asset class, and store of value,” — Tushar Jiwarajka.
Conflicting Reports & Gaps
Sources list the auction date as October 11, 12 or 13, 2026. The Hindu cites October 13, GKToday October 11, and Caleidoscope October 12. All agree on the price and single-lot format, but the exact date remains inconsistent.
Why It Matters
The sale highlights the valuation of Indian modernist art and shows that high-value works can achieve benchmark prices outside traditional multi-lot houses. Volte Una’s single-lot approach offers a focused process that may influence how major Indian artworks are marketed and priced.