Traditionally art buying in India was considered something that only an elite few indulged in. But over the years the Indian art market has evolved significantly, attracting a much wider audience. In fact art has now found a prominent position in alternative investment portfolios.
Indian art market in divided into two segments, Modern and Contemporary. Modern segment comprises of masters like M F Husain, S H Raza, F N Souza and more. Contemporary segment is comparatively young, around 2/3 decades. G R Iranna, Paresh Maity, N S Harsha, Jogen Chowdhary are few Indian Contemporary artists in India.
If you look at international average pricing for a master, is quiet high, when you compare it to Indian artwork done by a master like Husain costs around 150,000$. For years, artwork was synonymous with international artists like Leonardo Da Vinci, Vincent van Gogh, Pablo Picasso, Rembrandt and Monet, to name a few. It was only in the mid-90s that Indians started to gain recognition around the world, with artists such as Husain, Raza. New galleries and museums are opening up in India. Domestic auction houses are straightening its position in India. More and more people are looking into buying Indian art.
To know about art investments contact us today!
Viewpoints of experts in art market (2015-2016 interview):
Yamini Mehta – International head of South Asian Modern and Contemporary Art –
“At Sotheby’s we’ve seen Indian clients purchase works at auction totalling $273M over the last five years, and while there has long been a culture and heritage of patronage and collecting art in India, undoubtedly the rise of a new generation of wealth in the country has contributed to a broadening collector base. Globally, the Indian art scene has never been more vibrant. There’s huge interest, not only in our auctions, but also in the many major exhibitions dedicated to key Indian Modernists being staged across the globe. From 2014 to 2015 the number of bidders at auction increased by 7%.”
Neha Kirpal, founding director of the annual India Art Fair –
“The upsurge in interest in the Indian art market is being seen across the supply chain. The jaw-dropping prices fetched by some Indian masters’ works at international auctions is inspiring buyers back home. The local Indian economy, with collectors from smaller Indian towns as well, is supporting the domestic art scene.”
Indian art market in divided into two segments, Modern and Contemporary. Modern segment comprises of masters like M F Husain, S H Raza, F N Souza and more. Contemporary segment is comparatively young, around 2/3 decades. G R Iranna, Paresh Maity, N S Harsha, Jogen Chowdhary are few Indian Contemporary artists in India.
If you look at international average pricing for a master, is quiet high, when you compare it to Indian artwork done by a master like Husain costs around 150,000$. For years, artwork was synonymous with international artists like Leonardo Da Vinci, Vincent van Gogh, Pablo Picasso, Rembrandt and Monet, to name a few. It was only in the mid-90s that Indians started to gain recognition around the world, with artists such as Husain, Raza. New galleries and museums are opening up in India. Domestic auction houses are straightening its position in India. More and more people are looking into buying Indian art.
To know about art investments contact us today!
Viewpoints of experts in art market (2015-2016 interview):
Yamini Mehta – International head of South Asian Modern and Contemporary Art –
“At Sotheby’s we’ve seen Indian clients purchase works at auction totalling $273M over the last five years, and while there has long been a culture and heritage of patronage and collecting art in India, undoubtedly the rise of a new generation of wealth in the country has contributed to a broadening collector base. Globally, the Indian art scene has never been more vibrant. There’s huge interest, not only in our auctions, but also in the many major exhibitions dedicated to key Indian Modernists being staged across the globe. From 2014 to 2015 the number of bidders at auction increased by 7%.”
Neha Kirpal, founding director of the annual India Art Fair –
“The upsurge in interest in the Indian art market is being seen across the supply chain. The jaw-dropping prices fetched by some Indian masters’ works at international auctions is inspiring buyers back home. The local Indian economy, with collectors from smaller Indian towns as well, is supporting the domestic art scene.”
