Last night's sale, part of the auction house's "Greatest Indian Show on Earth" series, saw 163 of the 220 lots being sold for Rs 55.60 lakh.
A painting by Arpana Caur 'Pyaar hua, Iqraar hua' showcasing the famous under the umbrella scene of Raj Kapoor and Nargis from "Shree 420" fetched the highest price of Rs 7.5 lakh followed by an original hand-painted hard board standee of "Yahudi" with Dilip Kumar and Meena Kumari in their famous embrace which went for Rs 4.8 lakh.
The "Gunga Jumna" artwork, signed and inscribed by Dilip Kumar in 1962, was purchased by the M Morarka Foundation, led by Kamal Morarka for Rs 2.16 lakh.
A six-sheeter poster of "Mother India", which requires preservation work by the new collector, also witnessed hectic bidding, finally selling for Rs 2.52 lakh.
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The Rajesh Khanna lots of "Anand" & "Bawarchi" also witnessed competition while the poster of "Junglee", one of the earliest designs by Studio Diwakar, sold for Rs 72000.
"It is very good to see the film fraternity finally taking a much larger interest and responsibility in helping to preserve this fragile heritage," said Neville Tuli, chairman of Osian's Group.
The first few lots of rare artworks and photographic stills belonging to some of the earliest films made by Prabhat Film Company and Prakash Studios captured the imagination of three major collectors.