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Gaitonde $3.8 Million Work Sets Indian Artist Record

A painting by Vasudeo S. Gaitonde set a record for an Indian artist at auction, after selling for 237 million rupees ($3.8 million) at Christie’s International Plc in Mumbai.

Gaitonde’s 1979 work was part of Christie’s inaugural sale in India on Dec. 19 that raised $15.6 million, more than twice the high pre-sale estimate of $8 million. More than 10 buyers competed for the untitled oil-on-canvas abstract painting during almost seven minutes of bidding, before the hammer went down to a U.S.-based client.