Indian Collectors Spending $50m Each Year at Sotheby’s

 

Sotheby’s specialist Edward Gibbs was interviewed by an Indian magazine about the house’s upcoming sale of Modern and Contemporary art. The art world is accustomed to hearing about active bidding from Chinese buyers but Indian collectors are less visible. Gibbs offers a little more color on the subject;

How large a market is India for Sotheby’s? Do you have a number of resident Indians who buy from Sotheby’s?

If you look at the last five years the number of Indian buyers of Sotheby’s has doubled. In that same period those Indian clients of ours have spent at Sotheby’s globally in the range of $250 million. That figure is drawn from all different categories. Indian buyers are collecting jewellery, impressionists, international contemporaries, furniture, 19th century paintings. Jewellery is probably the most significant.

Indians Have Spent 250 Million In The Last 5 Years At Sotheby s Edward Gibbs  (BW Businessworld)