Indian Art – MILLION DOLLAR BABIES

Recently.. I read article about Indian Art in ET and TOI… it specks of how Indian Art in in much demand in market nowadays and how Art turnout to be an asset just like equities,gold and real estate. It interested me to know more about Indian Art.. so I did some research and prepared one article…it has details about whts goin on in Indian Art market and various Indian artist and how indian art get higher price @ auction house like Christie’s and Sotheby.

here is some excerpt from this article. I attached complete article in PDF file, download PDF file for full article

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 the recent Christie’s auction was any indication of the popularity of Indian art in the global market, then one could say that Indian art was currently at the top of the charts. Recently the painting ‘Man with Monstrance’ by FN Souza goes for $ 1.36 million at Sotheby’s. Five works of Indian artists have made it to the million dollar mark. Only 13 such high-value Indian art works have been registered so far.

So now, the big question: Can we begin to look at art as an asset class just as we do with equities, gold, debt or real estate? As per ET Art index (comprising top 51 contemporary Indian artists), have beaten returns posted by equities, gold or debt. Every Rs 100 invested in Jan ’01 fetched Rs 1,092 in the case of art at current prices, while equities fetched Rs 444, gold Rs 212, and debt Rs 155. Since ’01, the ET Art index has given 2.5 times the returns of equities.

But then, returns from art have also been less predictable. For the period ’00 and ’03, ET Art index hardly saw an appreciation. But then, began the bull-run in the art market almost in tandem with Indian equities. ET Art index posted a return of close to 100% annually in the past three years. Historically speaking, art works of Ram Kumar, Tyeb Mehta, and Jogen Chowdhury gave the best returns to investors and in that order. Since ’98, works of Ram Kumar saw stupendous price growth of 76.4% per annum, while that of Mr Mehta 75.7% per annum and Mr Chowdhury 74.2% per annum. M F Husain’s works gave a return of 39% annually, Sultan J Ali 35% and Raja Ravi Varma 31.8%.There is a flip side to art investments though. Its market value could depreciate much faster. In calendar ’06, works of Ganesh Pyne (-44.5%), Prabhakar Barwe (-56%), Atul Dodiya (-57.3%), Jamini Roy (-31.4%) and K H Ara (-31.4%) saw a huge correction.

Indian Art PDF

Source : TOI,ET

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