Art is an inherent part of Indian culture. Its presence plays an important role in Indian history and society. The following are the trends in the current Indian art market scenario:
Contemporary art grows as economies globalize: it is happening here and now
Growth of GDP & and the economy as a whole
An immense increase in purchasing power of HNI’s & NRI’s
Art is regarded as a trend for safe haven emulated by HNI’s & NRI’s
NRI’s looking for identity
Indian affluent looking for a new status symbol
Availability of documentation and authenticity of works of art.
Awareness about artistic significance and pricing of paintings
Growth of services and expertise within the art world
Market infrastructure is falling into place
Growing secondary market has resulted in liquidity.
No secondary market for any other collectable category
‘Never sell culture’ resulting in limited supply
Increasingly being viewed as a component of portfolio analysis and investment
An increasing realisation regarding the limited supply situation for great works of art; hence they
tend to command a high premium in price.
Investment in a new age market. Enter in early growth phase
Supply side has matured over 3 decades with established art history, artists and galleries
Buy side is consolidating after a break out
Market is firmly in the sight of affluent Indian Diaspora
Early mover scenario is still on offer
Asset has a long term investment perspective
Established artists have sustainable value
Younger artists have higher risk/higher return
Best value as an investment in times of economic depression.
