| Tushar Sethi |
 The Global art market is 2011 was very strong. The most expensive painting ever sold and a new world record for art was the Cezanne that sold for US$ 250 Million. More than 1600 paintings sold for more than US$ 1 Million. 43% of the global art market sales took place in Asia. 12400 artists hit new personal auction records. Thus overall the global art market was 20% stronger than 2010. The Indian Modern Art Market has held on to its prices in the last quarter of 2011. Two paintings were sold over 10 cr and three more were sold over 5 cr. The upcoming march auction of Sothebys has a Raza with a lower estimate of US$ 1.5 million which will result in another Record for this artist. The second half of 2012 will see prices move in a strong and positive flow for the moderns and for the contemporary artists. One will see many new younger artists hold strong ground in 2012 and this shall result in a new following among collectors for these artists. Husain, Raza and Souza are looking the strongest in 2012. Other artists to look out for are R Broota, Manjit Bawa, Bikash Bhattacharjee and Badri Narayan. Tyeb is not expected to go up as last year saw a huge jump in price levels. Ram Kumar is the artist to currently buy as he is very undervalued as compared to the other masters. The market will be much stronger from March onwards. Tushar Sethi Director :TheArtsTrust.com |
| Best Selling Auction Artist - 2011 |
| 2011 saw a shift in the top three artists. The total value of paintings sold in auctions was topped by MF Husain who had a total sale of a little under US$ 10 million (Rs 50 Cr) in auctions, with a total number of 105 paintings that were sold in auctions. This was followed by Tyeb Mehta a little under US$ 8 million (Rs 40 cr) with 13 lots coming up in auction in 2011. The most expensive painting sold in 2011 was by Tyeb Mehta that sold for a little under US$ 3 million (Rs 14.4 Cr). Raza is ranked third on the list with a total value of US$ 5.4 million (Rs 27 cr). This was followed by Souza who last year was ranked in second position this year fell to fourth position. |
Auction Sales - 2011 |
| The world art market was lead by China for the second year in a row. This year the total art sold in China in public auctions amounted to 41% of the total global auction trade. The figure jumped 10 percent from last year. The biggest fall was seen in America that lost the 10% difference. The rest of the countries were more or less constant as compared to last year. India still playing a very small role in global art trade with less than 0.5% of the total auction trade taking place in India. |
Auction Sales Turnover worldwide |
| 2011 was a very good year for the global art market. One saw many records being set. The world wide annual auction turnover for artworks was twice as much as compared to the year before. If one looks at the graph, the turnover was actually more than what took place in the boom in 2008. Looking at these figures it is clear that the interest level in art worldwide has grown and has crossed the levels of the boom market. The start of 2012 has also been good world wide. One expects this figure to rise 15% this year. Thus the worldwide growth of the art market is extremely strong. |
Courtesy The Arts Trust
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