Emerging Markets
0September 14, 2011
India Gets Another Art Fair . . . Online
The Online art fair space seems to be getting more and more entrants. Today’s announcement comes from Burgundy Art Pvt. Ltd. which is behind the launch of the India Art Collective:
India Art Collective is a collaborative effort of all galleries to join hands and collectively participate through a first of its kind, exclusive online art fair – India Art Collective. The country’s most renowned art galleries like Chemould Prescott Road, Nature Morte, Gallery SKE, Sakshi Art Gallery, Vadhera Art Gallery, Gallery Espace, Apparao Galleries, Akar Prakar, Palette, Latitude 28, Tao Art Gallery, The Guild, Experimenter and Kashi will showcase Indian art and provide art buyers and collectors with an easy and convenient access to a large inventory of quality Indian art.
India Art Collective proposes to hold the online art fair twice annually and offers galleries an opportunity to reach out to a broader audience at a fraction of the cost compared to a traditional art fair. The online fair will begin from Saturday 19th November, 10.00 a.m. IST and conclude on Saturday 26thNovember at 7.00 p.m. IST.
All are welcome to browse this engaging online fair through the website www.indiaartcollective.com. Browsing the fair is free
Auction Results
0September 14, 2011
Christie’s S. Asian Mod + Cont = $7.375m
Christie’s held their Indian Modern and Contemporary sale yesterday in the midst of many questions about the fate of Maqbool Fida Husain’s market.
The auction house’s head of Asian art, Hugo Weihe, feels his house vindicated the master who died earlier this year with a bit of a Husain-a-palooza:
“As a tribute to the late Maqbool Fida Husain, we were thrilled to have offered 13 modern works by him, all of which were 100% sold totaling $4.2 million. Husain’s paintings achieved eight out of the top ten lots, a testament to the great master.”
Emerging Markets
0July 08, 2011
Who Are the Next Indian Art Masters?
The inimitable Kishore Singh returns to the subject of art and the art market. He’s been away far too long. But in a post that celebrates signs that”the last few months have seen some of the euphoria of 2005-08 being revived, with entrepreneurs sniffing an opportunity and eyeing art as the big-ticket prospect for their futures.”
“Who,” I’ve been asked by at least a dozen hopefuls in the last dozen weeks, “will the next Raza and Husain be?” The corollary to that question is always, “Who will identify these new Razas and Husains?”
That question — or those questions — mark the transition phase of Indian art from talent (“isn’t it assumed?”) to the market where value alone is king. In asking where the next batch of masters will be hatched, these youngsters are anticipating not a new blitzkrieg of genius but returns on their investment. To state the truism that the next batting order to follow will be from the already acknowledged middle order may appear somewhat obvious, but what these market players want is for someone to identify — and hand over to them on a salver — a list of names from among those who have just started to practice their craft.
The Tide Turns (Business Standard)
Auction Results
0June 10, 2011
Christie's London South Asian Mod & Cont = £4.315m
The Wall Street Journal’s India Real Time blog identifies the buyer of the record-setting $3.24m Tyeb Mehta painting last week as a European collector:
The painting sold for significantly more than Christie’s estimate of £800,000 – £1.20 million ($1.30 million – $1.95 million) to a European buyer. Signed and dated “Tyeb ’84,” it was first bought by fellow painter Mr. Raza and later by New Delhi’s Vadehra Art Gallery. Overall, 91 of 116 lots, for a total of around $7 million, were sold at Christie’s auction of South Asian modern and contemporary art last week.
Rickshaw Painting Sells for $3.24m (India Real Time/Wall Street Journal)
