An insightful conversation with Pheroza J. Godrej courtesy Forbes India, which has recently appeared on leading online financial resource Moneycontrol.com, comprises some interesting observations. Firstly she advises: “Buy works of art you are prepared to live with. And returns will eventually come. "
The founder of Mumbai based Cymroza Art Gallery in a recent interview suggests that art sales have gradually picked up within a range of up to Rs. 5 lakh after a correction. Her broad investment idea is to start small.
Giving a backgrounder to the phenomenon of art investment, the conversation mentions: “Some investors were influenced by the increasing interest in art, on the back of successful auctions and growing participation of top Indian artists in international exhibits. Naturally, they didn’t want to be left out. Unfortunately for them, art had already attained a high premium by then. Today, the changed scenario is that there is no desperate selling in the art market. There are not many good works easily available, which can be bought at a throwaway price.”
Sales are slowly picked up within a price range of works under Rs.5 lakh. They are briskly selling. This, she mentions, is a healthy trend. The price level could be pushed up gradually to Rs.10 lakh. “My view is that something as precious as art should not have been treated as a commodity to be traded in the market. Art is something personal in nature. You need to develop an interest in it and do so with a passion. You have not to do it just to make money and surely not for a short-term,” she points out.
Her word of advice to young, aspiring collectors is to buy a smaller canvas within their budget. She cautions against buying a signature just for the sake of a signature. She sums up to state: “Be prepared to live with it. And buy one you would continue to enjoy. Don’t just buy only from the point of view of how much it will appreciate in value.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment