Vasudeo S Gaitonde's (1924-2001) Painting No. 1 has provided the top lot at Sotheby's Modern and Contemporary South Asian Art in London.
The 1962 work sold for £698,500 ($1.1m) on June 11, trumping its £450,000 high estimate by 55.2% - just shy of the $1.3m artist record achieved by an untitled work at Christie's in 2006.
Abstract Indian artist Gaitonde produced very few works, ensuring those rare pieces that appear at auction are in great demand, especially those from the 1960s - widely deemed to be the height of his career.
The result adds to a strong year for Gaitonde. Another 1962 work sold for $965,000 at Sotheby's in March.
MF Husain's Jhoola was the second most valuable lot of the event, selling within estimate for £242,500 ($379,800).
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