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The Bhaishajyaguru and the Buddha with hands in dhyana mudra may be from a set of eight Buddhas making up the circle of Medicine Buddhas in the mandala of Bhaishajyaguru. A Qing period three dimensional depiction of the mandala, now in the State Hermitage, consists of a group of forty-nine bronzes out of the fifty-one deities that make up the mandala, see Marylin M. Rhie and Robert A. F. Thurman, The Sacred Art of Tibet, London, 1991, pp. 338-40.
The slightly larger Buddha with hands in abhisekana mudra, expressing the concept of ultimate reality and wisdom, represents the supreme Transcendental Dhyani Buddha Vairochana, who is portrayed either with this mudra or the dharmachakra mudra, the turning of the Buddhist Wheel of the Law, and either crowned or as an ascetic Buddha like the present example, cf. a fifteenth century crowned Vairocana Buddha sold in Sotheby's Paris, 10th June 2015, lot 39. Vairocana is considered to be the universal form of Shakyamuni Buddha, and the practices associated with the deity were among the most important in the early development of Tantric Buddhism in Tibet.
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