Tyeb Mehta’s evocative painting, Rickshaw Puller, has achieved a historic milestone in the Indian art market, fetching Rs 69.1 crore at the inaugural auction held by the newly established house, Volte Una. This transaction establishes a new world auction record for the celebrated artist, surpassing his previous personal peak of Rs 61.8 crore set by the painting Trussed Bull in April 2025.
With this sale, Rickshaw Puller has secured its position as the fourth-most expensive Indian work of art ever sold at public auction. The top position in this category remains held by Raja Ravi Varma at Rs 167 crore, followed by two works by M.F. Husain. The record is particularly significant given Mehta’s reputation for having exceptionally high standards; throughout his career, the artist was known to routinely destroy works he deemed unworthy of his legacy.
The painting draws upon memories from Mehta's childhood, specifically summers spent with his grandmother in Kolkata, where he first encountered the rickshaw pullers who would eventually become a recurring theme in his body of work. While his earlier depictions of these figures were often rendered in sombre greys and deep reds, the piece sold this week presents a more integrated view of the subject. In this work, the man and his machine appear almost fused, capturing the profound physical exhaustion inherent in the labour of hauling passengers through the city’s sweltering streets.
This achievement serves as a stark contrast to the artist's early life. Mehta, who was known for his dedication to his craft, spent many years living and working in a cramped, one-room apartment in Bombay that functioned as both a studio and a living space. His rise in the art market gained significant momentum in 2002, when his triptych Celebration, from The Times of India collection, became the first Indian painting to cross the one-crore mark at auction.
The record-breaking sale also marked the debut of Volte Una, a firm that has introduced a distinct business model to the auction landscape. Unlike traditional houses that conduct sales with multiple lots, Volte Una operates by offering one major work at a time. According to founder Tushar Jiwarajka, this strategy is intended to prevent masterpieces from being “lost in a crowd,” allowing collectors the necessary time to engage with a single piece in a private setting.
“We have introduced a business model that allows traditional buyer’s premium to be significantly reduced, cutting transaction costs for both buyers and sellers,” Jiwarajka stated. He noted that the primary objective of this format was to expose the painting to a targeted group of serious, discreet global collectors.
As the Indian art market continues to see surging valuations for established modernists like Mehta, the sale of Rickshaw Puller underscores the enduring demand for works that possess strong historical resonance and technical execution. The artist’s signature motifs, including his depictions of bulls and urban labourers, continue to command record-setting attention, reflecting a broader trend where significant Indian art pieces are increasingly viewed as top-tier assets by international collectors.
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