Giftex.in’s Modern & Contemporary Art Auction delivered strong results; here are the top lots that surpassed estimates
Market Surge: Thota Vaikuntam Artworks Peak at ₹14.18 Cr
A steady five-year rise in auction value reflects strong demand for Vaikuntam’s rural Telangana vision
Thota Vaikuntam’s auction turnover shows a clear and consistent rise across the last five years. From ₹1.76 crore in 2021, his total at auction moved to ₹2.06 crore in 2022, ₹8.73 crore in 2023, ₹12.74 crore in 2024, and then climbed sharply to ₹14.18 crore ($1.61 million) in 2025 his highest annual turnover with 74 artworks sold.
Across 2021 to 2025, Vaikuntam’s artworks generated a total turnover of ₹39.48 crore. Between these years, 98 works sold in the ₹10 lakh to ₹50 lakh range, while 2025 alone accounted for 32 works in that bracket.
His strongest moment came in June 2025, when Untitled (Temple Wedding) sold for ₹2.96 crore ($336,363) at AstaGuru, setting a new personal and world record and surpassing his previous high of ₹1.41 crore from AstaGuru’s September 2023 auction.
This sustained recognition is built on decades of a distinctive practice rooted in rural art forms and folk traditions.
Read the full story in the premiere issue of LuxeTrope, on stands now.
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