Giftex.in’s Modern & Contemporary Art Auction delivered strong results; here are the top lots that surpassed estimates
F.N. Souza Auction Sales 2025: Trends and Record-Breaking Prices
From ₹49 crore in 2021 to ₹227 crore in 2025, Souza dominates Modern Indian art sales
Francis Newton Souza commands one of the strongest positions in the Indian art market, with his auction turnover reflecting consistent demand and remarkable growth. Between 2021 and 2025, his works generated ₹689.17 crore ($78.31 million) across more than 800 lots sold, showcasing a market that spans drawings, paper works, oils, and iconic nudes.
The annual figures trace a clear upward trajectory. Turnover began at ₹49.05 crore in 2021, rose to ₹111.60 crore in 2022 and ₹121.50 crore in 2023, then jumped to ₹179.54 crore in 2024—when Souza claimed the top spot by turnover among artists. The momentum peaked in 2025 at ₹227.48 crore ($25.85 million), a 21 per cent increase over 2024 despite 62 fewer lots sold that year (179 vs 241).
This performance underscores Souza’s market depth rather than reliance on sporadic blockbusters. In 2025 alone, four works breached the ₹10 crore mark, contributing significantly to the annual total. The Progressive Artists’ Group pioneer continues to outperform, with his broad appeal across mediums driving sustained liquidity.
Souza’s dominance extends beyond volume—his turnover leadership in 2024 and strong 2025 results affirm collector confidence in works that span his provocative figures, deconstructed religious iconography, and introspective landscapes.
Read the full story in the premiere issue of LuxeTrope, on stands now.
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