An acrylic on canvas painting by veteran artist S H Raza fetched a whopping USD 1,202,500 (Rs 5.48 crore) at a Christie's auction here.
The South Asian Modern and Contemporary Art sale saw 75 of the 91 lots on offer going under the hammer for a total price of USD 8,937,000.
An anonymous bidder bought Raza's 1989 work
'Gestation' in which he presents an arrangement of shapes and earthy colours merging his haracteristic horizontal bands with elegant obliques.
The painting had a pre-sale estimate of USD
600,000-800,000.
M F Husain's oil on canvas 'Sita Hanuman' fetched USD 842,500, Akbar Padamsee's oil painting 'Jeune femme aux cheveux noirs, la tete inclinee' realised USD 578,500 while VS Gaitonde's oil work 'Blue Abstract' sold for USD 554,500.