Some time back, a news report in the Wall Street Journal by Margherita Stancati and Shefali Anand had mentioned: “Collectors still see artworks by artists of Modern India School of painting, a movement spearheaded by Souza, Raza and the late MF Husain, as a safer investment than contemporary art.
Widely seen as a status symbol, the works of this older generation of painters have quite often broken the $1-million barrier, something happening less frequently with contemporary artists. The financial crisis left this segment relatively unscathed. Works by the younger generation of artists are widely viewed as a riskier investment option than modernist paintings. And their prices suffered the most during the financial meltdown. However, the relatively low prices mean that savvy collectors could stand to gain.”
A leading global art market research agency, ArtTactic, regularly publishes Confidence Surveys that provide an in-depth analysis of the market conditions on basis of field data and analytic tools such as a risk and speculation barometer. By collating and dissecting aspects like sales volume, average price and bought in rates, they judge the success ratio of auctions by comparing pre-sales expectations with final results. Their periodic Global Art Market Outlook reports examine the prevailing trends within Indian markets as well as other top art markets.
Contemporary & modern Indian art prices began soaring around a decade ago or so, setting the industry wheels fast in motion. Even while sales patterns suggest the art market is showing signs of recovery, few really expect it to reach pre-2008 levels. After the financial downturn hit global markets, India wasn’t spared either. Indian art prices fell in that period, by more than half. It took a heavy toll on many art funds set up a few years earlier. Though it is not realistic to expect prices to soar anytime soon, that’s not necessarily such a bad thing, with some terming it an artificial hype!
Widely seen as a status symbol, the works of this older generation of painters have quite often broken the $1-million barrier, something happening less frequently with contemporary artists. The financial crisis left this segment relatively unscathed. Works by the younger generation of artists are widely viewed as a riskier investment option than modernist paintings. And their prices suffered the most during the financial meltdown. However, the relatively low prices mean that savvy collectors could stand to gain.”
A leading global art market research agency, ArtTactic, regularly publishes Confidence Surveys that provide an in-depth analysis of the market conditions on basis of field data and analytic tools such as a risk and speculation barometer. By collating and dissecting aspects like sales volume, average price and bought in rates, they judge the success ratio of auctions by comparing pre-sales expectations with final results. Their periodic Global Art Market Outlook reports examine the prevailing trends within Indian markets as well as other top art markets.
Contemporary & modern Indian art prices began soaring around a decade ago or so, setting the industry wheels fast in motion. Even while sales patterns suggest the art market is showing signs of recovery, few really expect it to reach pre-2008 levels. After the financial downturn hit global markets, India wasn’t spared either. Indian art prices fell in that period, by more than half. It took a heavy toll on many art funds set up a few years earlier. Though it is not realistic to expect prices to soar anytime soon, that’s not necessarily such a bad thing, with some terming it an artificial hype!
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