Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

The Indian Art Market Gets Cautious

June 25, 2011 by Marion Maneker

After the Spring sales at Christie’s, Sotheby’s and Saffronart, Delhi-based journalist John Elliott takes stock of the Indian art market on his blog, Riding the Elephant. Elliott finds:

Dealers talk about difficulty finding and persuading buyers to offer good works that will fetch top prices, partly because many have already been sold in recent years, and because of current economic uncertainty, especially in India with high inflation and a threatened slow-down in growth. […] The market has been flooded with works by Husain and Souza in recent years, which has affected demand. Last summer, Christie’s had a spectacular sale of Souza drawings and paintings that were being sold by his family’s estate. This year there were more works owned by the family, but they did not generate the same excitement or prices. […]

This is not a market for investors looking for quick profits, but it is good for committed collectors, newcomers and established buyers, with the best works selling well if offered at sensible prices. The market is waiting to discover what happens now to Husain – there are many of his works waiting to be sold but it is not clear yet when they will emerge, nor what the appetite will be.

India’s Modern and Contemporary Art Market Wobbles (Riding the Elephant)

More from Art Market Monitor

  • Sincerity and Cynicism in Maurizio Cattelan’s BananaSincerity and Cynicism in Maurizio Cattelan’s Banana
  • Asia Week Expectations: $68 to $96mAsia Week Expectations: $68 to $96m
  • Man Cherishes Gauguin and Bonnard Works for 40 Years Without Knowing Who Painted ThemMan Cherishes Gauguin and Bonnard Works for 40 Years Without Knowing Who Painted Them
  • Christie’s Opens London Sales with Solid Results on Much Familiar MaterialChristie’s Opens London Sales with Solid Results on Much Familiar Material
  • Varnette HoneywoodVarnette Honeywood
  • Artelligence Podcast: Sean Kelly Gallery’s Collect WiselyArtelligence Podcast: Sean Kelly Gallery’s Collect Wisely

Filed Under: General

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor