The Wall Street Journal’s India Real Time blog identifies the buyer of the record-setting $3.24m Tyeb Mehta painting last week as a European collector:

The painting sold for significantly more than Christie’s estimate of £800,000 – £1.20 million ($1.30 million – $1.95 million) to a European buyer. Signed and dated “Tyeb ’84,” it was first bought by fellow painter Mr. Raza and later by New Delhi’s Vadehra Art Gallery. Overall, 91 of 116 lots, for a total of around $7 million, were sold at Christie’s auction of South Asian modern and contemporary art last week.

Rickshaw Painting Sells for $3.24m (India Real Time/Wall Street Journal)