Confidence indicator for the Indian art market improves

Art analysis firm ArtTactic’s confidence indicator for the Indian art market has more than doubled, sending positive signals to investors.

In fact, recovery in the Indian art market could occur earlier than expected, according to the latest research report released by the London-based art market analysis firm. The report suggests there is renewed confidence evident in the market that incidentally had dipped to an all-time low only six months ago.

The report holds significance since ArtTactic, set up by Anders Petterson almost a decade ago, is an internationally reputed agency. It comes up with research and commentary by combining both quantitative and qualitative tools. Its studies are backed by an in-depth knowledge of the art market’s .

ArtTactic employs analytical frameworks and methodologies for the art market often employed by economists and the financial experts. Anders Petterson, ArtTactic managing director, elaborates, “The survey sample is a cross-section of key players in the Indian art market many of whom have a long-term interest in it, and hence their answers are not driven by short-term decisions.”

Its confidence indicator for the Indian art market is now pegged just under the 50 mark, at 49. The 50 mark importantly, suggests there are an equal number of negative and positive responses on the outlook for the art market in the near term. In May, the indicator was well in the negative territory, pegged at an abysmally low number of 20.

Clearly, the market is on the threshold of an upswing in terms of investor confidence. This really is a positive indicator coupled with the Indian economy that is showing early signs of revival.