And, the Deal is Sealed, Virtually

Online auction has given a great boost to the art market with ease of accessibility at a time when most things are stuck in limbo

- SIDDANTH SHETTY

Indian art, as ancient as civilization, has undergone several transformations influenced by cultural diversity and exceptional artistic styles. Famous for richness in traditional artworks, like Mughal paintings, sculptures, India’s dynamic artistic legacy goes on with its enchanting contemporary paintings.

Given the current exposure that Indian art is receiving for its distinguished designs, the projected turnover of the market will hold its ground, and expand over the next decade.

It is safe to expect an increment in prices, given the steady growth in demand and the limited supply of auction-quality artworks. Investment in art as an asset with long-term tangible value and as an instrument to hedge against inflation has done exceptionally well during inflationary periods. The Indian art auction market has even stood its ground through the course of the past year, hereby registering records and further cementing the trust that the market has evolved to achieve.

Collecting art can be seen as a passion with an investment value and can be included in any sophisticated asset planning strategy. Domestic collectors have a discerning appetite for good quality works and based on the performance of the segment, there are many enthusiasts racing to build their collection. A surge in demand has been witnessed in the sub-continent.

Good art will always garner demand, and the prices for masterpieces by seminal artists will remain steady since they are historic as well as the leverage of a rich provenance.