Art Market Monitor

Global Coverage ~ Unique Analysis

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

Can Christie’s Build India’s Art Market Alone?

October 30, 2014 by Marion Maneker

india-auction-shot

Last year, Christie’s held its first auction in Mumbai, opening up a new market with a long-term strategy. The sale made $15.4m, twice the estimate, and featured top Indian Modern artists including Tyeb Mehta and Vasudeo S. Gaitonde who is currently the subject of a retrospective that just opened at the Guggenheim Museum in New York. The top three lots, a Gaitonde and two Mehtas, sold for well above the estimates.

Christie’s is gearing up for another sale in Mumbai this December. But there are some, including the noted Indian art market expert Kishore Singh, who see the first sale as more of an illustration of Christie’s might than a measure of the maturity of the Indian art market:

Singh, head, publications & exhibitions, Delhi Art Gallery, says everyone is waiting and watching for Christie’s second auction that will truly define the market for Indian art. “The first auction was a superb collection of artworks and had the entire might of Christie’s behind it. Let’s see if the second auction matches it in terms of quality and value.” He terms the first auction an ‘aberration’, saying only sustained success will help the Indian market, especially unestablished artists. He also points out that no phenomenal sales of Indian art happened globally immediately after the auction in India.

Christie’s bids for another high in Indian art market  (Financial Express)

More from Art Market Monitor

  • Warhol Theft in LAWarhol Theft in LA
  • Art Capital Group Expects 150% Rise in LoansArt Capital Group Expects 150% Rise in Loans
  • In the UK, The Path to Growth for a Regional Auction House Runs Through IndiaIn the UK, The Path to Growth for a Regional Auction House Runs Through India
  • Get Ready for a New Vision of Francis BaconGet Ready for a New Vision of Francis Bacon
  • Sydney Gets NakedSydney Gets Naked
  • Platforms and Sales at Art Stage SingaporePlatforms and Sales at Art Stage Singapore

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
 

Loading Comments...