Monday, December 31, 2012

2013! Ashok Art Gallery wishes a Happy and Prosperous New Year!


As 2012 draws to a close, it feels like a one-step-forward, two-steps-back kind of year.To all our "Smart" visitors: We send you all best wishes for a healthy, happy, safe and prosperous (so we can all buy/create more art works) new year. Here's hoping that 2013 brings only good things. We appreciate you all; you are the best! HAPPY 2013

The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Wednesday, July 11, 2012

Art is portable and liquid, and can be traded in different currencies, Unique works are not always the record-breakers, here is top ten of this season


The top end of the art market appears to keep climbing, despite fresh crises in the currency and banking markets and ongoing turmoil in the Eurozone. The geographic concentration of wealth has expanded, too, and this is having an impact on traditional investments. In newer econ­omies with more volatile, or less mature, financial markets, the rich spend more on luxury assets, including art, jewellery, wine and cars. According to a recent survey of 2,000 of the world’s super-rich individuals by Barclays Wealth, respondents in the United Arab Emirates hold 18% of their wealth in such assets, closely followed by the Chinese and Saudi Arabians (both 17%) and the Brazilians (15%)—compared with 9% of Americans, who tend to focus on more traditional investments. 


Buyers from China and Qatar are entering the trade at this luxury level: they account for at least a quarter of the top 20 works sold at auction. There has been a parallel boom in private sales, including the reported $250m acquisition of Cézanne’s The Card Players, around 1893, by Qatar last year. The expansion is not without problems, however. One of the most expensive works to sell at auction, an 18th-century Qianlong-dynasty porcelain vase that went for £51.6m ($83m) in 2010 at Bainbridges Auctions in England, is a record only on paper—the buyers have yet to pay for it. 


It has been a tumultuous spring in the auction world, with sales of truly spectacular artwork punctuating much mediocrity. As many have pointed out, there is something of a split in the art market, with the freshest, most sought-after blockbuster work going for record prices -- qualities shared by all the works on this stellar top-ten list -- and the merely pedestrian languishing in salesrooms at or below their estimates or, worse, not selling at all.Here is the top ten auction lots of the spring season...

Impressionist and Modern Art Evening Sale
2 May 2012, Sotheby's


Lot 20
Edvard Munch
The Scream
1895, pastel on board in the original frame
Price Realized: $119.9 million


Courtesy Sotheby's

Post-War Contemporary Evening Sale
Christie's, 8 May 2012


Lot 20
Mark Rothko
Orange, Red, Yellow
1961, oil on canvas
Price Realized: $86.9 million

Courtesy Christie's

Contemporary Art Evening Sale
Sotheby's, 9 May 2012


Francis Bacon
Figure Writing Reflected in Mirror
1976, oil on canvas
Price Realized: $44.9 million

Courtesy Sotheby's

Contemporary Art Evening Sale
Sotheby's, 9 May 2012


Roy Lichtenstein
Sleeping Girl
1964, oil and magna on canvas
Price Realized: $44.9 million

Courtesy Sotheby's

Contemporary Art Evening Sale
Sotheby's, 9 May 2012


Andy Warhol
Double Elvis [Ferus Type]
1963, silkscreen ink and spray paint on canvas
Price Realized: $37 million

Courtesy Sotheby's









Impressionist & Modern Art Evening Auction | June 19, 2012 | Sotheby's London 




Lot 10
Joan Miro
"Peinture (Étoile Bleue)," 1927
Price Realized: $36.9 million

Courtesy of Sotheby's

Post-War Contemporary Evening Sale
Christie's, 8 May 2012


Lot 34
Yves Klein
FC1 (Fire Color 1)
1962, dry pigments and synthetic resin on panel with artist's frame
Price Realized: $36.5 million

Courtesy Christie's

Post-War and Contemporary Art Evening Auction | June 27, 2012 | Christie's London 




Lot 9
Yves Klein
"Le Rose du bleu (RE 22)," 1960
Price realized: $36.8 million

Courtesy of Christie's Images LTD. 2012

Old Master & British Paintings Evening Sale
3 July 2012, Christie's London


Lot 37
John Constable
The Lock
Oil on canvas
Price Realized: $35.2 million

Courtesy Christie's

Post-War and Contemporary Art Evening Auction | June 27, 2012 | Christie's London 




Lot 25
Francis Bacon
"Study for Self-Portrait," 1964
Price realized: $33.6 million

Courtesy of Christie's Images LTD. 2012







The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Tuesday, February 28, 2012

In 2011, the global art auction market generated 21% more than in 2010 and every single segment of the art market had progressed in terms of turnover





While old economies are struggling, growth is accelerating in the BRICS countries. The five BRICS - Brazil, Russia, India, China and South Africa- have been enjoying much stronger economic expansion than the developed countries and China's growth in particular has profoundly modified the geographical structure of the global art market according to thierry Ehrmann, the founder and CEO of Artprice, the world leader in art market information. Moreover, in Singapore, Beijing and Hong Kong, politicians are aware of the enormous economic potential of art for their state or their city, and their governments strongly support major cultural events including Contemporary Art fairs. In addition to the 49% growth in auction revenue from artworks in China, a number of other Asian countries have also posted particularly dynamic growth.

While Christie's continued to lead the auction market for Indian art with sales in excess of $20 million (Rs 100 crore) in 2011, Sotheby’s was second with its Indian art sales at $9.5 million (Rs 50 crore). At an online auction conducted by a Mumbai-based firm last year, paintings by Indian artists, including big names like Syed Haider Raza, Tyeb Mehta, Jehangir Sabavala, fetched more than US$14 million (Rs 70 crore).

“The Indian contemporary and modern art market has grown. The fact that we have added more sale locations for this category shows the increasing global demand for modern and contemporary Indian art,” said Sonal Singh, associate director, south Asian modern + contemporary art, Christie’s. The auction house has three international sites — New York, London and Hong Kong — where Indian art is auctioned.

“Top quality art with stellar provenance and in good condition finds buyers in India and world-over. In the past 18 months, we have seen record prices for artists such as Raza and Akbar Padamsee,” said Maithili Parekh, director, Sotheby’s.

Raza’s painting ‘Saurashtra’, which was auctioned for US$34,86,965 (around Rs 17 crore) in June 2010, is the most expensive Indian artwork ever sold.

In 2011, the global art auction market generated 21% more than in 2010 and there is not a single segment of the art market that did not progress in terms of turnover. Compared with 2010, Modern art added $1.2B, Post-war art added $372m, Contemporary art added $291m, Old Masters added $124 million and 19th century art posted an increase of $43 million. In addition, bulimic buying has not left any medium on the side-lines. 2011 saw the sale of more paintings, sculptures, photographs, drawings and even prints than 2010. Indeed, driven by the rocketing prices of the Chinese Old and Modern masters, drawing has really come into its own, with its annual revenue up by $1.318 billion over the year. 


The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Saturday, January 21, 2012

The art world’s in action, Art Market,Savvy dealers, Power players, player stealers.No more need to put out feelers

In the realm of established galleries and seasoned collectors, most of the major players already know each other and specific collectors' tastes, specifications, preferences, and budgets are pretty much a matter of record among those they do business with. When new arrivals come in, dealers examine them, make sure they're quality works, and then contact the most likely buyers. Selling art with a phone call makes far more sense than investing time, effort, money, and uncertainty to hang it, market it, and wait for likely buyers to walk through the gallery doors. Plus seasoned collectors are often willing to pay premiums for the right to quietly acquire the best art first. Contemporary art galleries build up new artists who only appear at auction later. So roaming the galleries is the way to pick up emerging talent. Getting to meet both established and young artists is one of the joys of collecting contemporary art, and that is done through galleries.Before buying think of where you will place the piece so that it has maximum effect. Art is made to be seen and not to end up in the garage. You can mix styles, eras and regions, but the pieces must speak to each other.

Don't confuse the size of an artist's listing in a dictionary or encyclopedia with the monetary value of his art. Long listings do not automatically mean big bucks, short ones don't always mean pocket change. Fair market values are based far more on supply and demand among dealers, collectors, and the state of the art market than they are on the amount of information that you find in biographical references. Buy what you like, not fashionable status symbols. You have to live with the works, their dividends should be the pleasure of looking at them.Do your homework by visiting galleries and studying auctions. Fairs are the way to compare a wealth of galleries under one roof. Auctions are transparent, providing collectors with benchmark prices that serve as a guide to how much collectors should be paying. Auction houses provide an enormous amount of price information on their websites.

There's an excitement in buying at auction, where enthusiasts compete against one another. But beware of auction fever when heated bidding can push prices to crazy levels. Set a maximum above which you will not go, and stick to it. This limit should take into account costs on top of the price at which a piece is hammered down. They include buyer's premium (commission paid to auction house) and, in many countries, a royalty for the artist's resale right. Always check the condition of your desired piece. The great majority of art is in the possession of its rightful owners, but under certain circumstances, if you get caught with stolen art, you are financially responsible for it's return and not the party who sold it to you. Laws and statutes vary from state to state and country to country. Know what the situation is where you live and do business. Also be aware that IFAR, the International Foundation for Art Research, maintains a stolen art database; you can always check with them if you have suspicions or just to be on the safe side.



The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Tuesday, December 13, 2011

Art Market and its Ten of World's most expensive paintings

Portrait of Adele Bloch-Bauer ($135,000,000)

The record-breaking sale of the portrait of Adele Bloch-Bauer for a whopping amount of $135 million was followed by a court order by the Austrian government to return the painting to Bloch-Bauer's heir, which was the culmination of years long dispute over the painting looted by Nazis during World War II.. Painted by the art nouveau master Gustav Klimt in 1907, the portrait was purchased in 2006 by cosmetics heir Ronald S. Lauder.

Nu au Plateau de Sculpteur ($106, 500,00)




Nu au Plateau de Sculpteur was another masterpiece from the brush of master painter Pablo Picasso. The painting, created in a single day in March 1932, set a world record auction price for a work of art at Christie's in May 2010.The painting, more than 5 feet by 4 feet, shows Picasso's mistress Marie-Thérèse Walter, both reclining and as a bust. It has been hailed by many as one of his greatest works

Garçon à la Pipe ($104,100,000)

Another marvel from Pablo Picasso: Garçon à la Pipe was created during the artist's famous Rose Period, during which he painted with a cheerful orange and pink palette. The oil-on-canvas painting, measuring 100 × 81.3 cm (slightly over 39×32 inches), depicts a Parisian boy holding a pipe in his left hand.The record price auction at Sotheby's New York on May 4, 2004 was a bit of a surprise to art buyers, since it was painted in the style not usually associated with the pioneering Cubist artist.

Dora Maar with Cat ($95,200,000)

Picasso, yet again. A surprise was in store for lovers of the great painter when, in 2006, this painting near doubled its presale estimate and fetched a record $95.2 million at auction at Sotheby's.Painted in 1941, Picasso's controversial portrait (one of his last) is sometimes described as an unflattering depiction of his mistress, Dora Maar, who was an artist/photographer, with whom he had a relationship that lasted ten years during the 1930s and 40s

Portrait of Dr. Gachet ($82,500,000)


The 'Portrait of Dr. Gachet' by the Dutch Impressionist master Vincent van Gogh suddenly became world-famous when Japanese businessman Ryoei Saito paid $82.5 million for it at an auction in Christie's, New York. Saito was so attached to the painting that he wanted it to be cremated with him when he died. Saito died in 1996 but the painting was saved

Le Bassin Aux Nympheas ($80,451,178)

.


 Painted by the Impressionist master Claude Monet in 1919, it sold at Christie's London auction house for 40.9 million pounds ($80.4 million) in June 2008, the highest price for a work of art sold by Christie's in Europe. The estimate was £18-24 million.

Bal Au Moulin de la Galette ($78,000,000)



 'Bal au moulin de la Galette, Montmartre' was painted by French artist Pierre-Auguste Renoir in 1876. On May 17, 1990, it was sold for $78 million at Sotheby's in New York City to Ryoei Saito, who bought it together with the Portrait of Dr Gachet.

Massacre of the Innocents ($76,700,000)



 This painting by Peter Paul Rubens, painted in 1611, is the only painting which was not painted in the 19th or 20th century. It was sold to Kenneth Thomson, 2nd Baron Thomson of Fleet for $76.7 million at a 2002 Sotheby's auction making it one of the most expensive paintings ever sold.

Portrait de l'Artiste sans Barbe ($71,500,000)



 Portrait de l'artiste sans barbe ('Self-portrait without beard') is one of many self-portraits by Dutch painter Vincent van Gogh. He painted this one in Saint-Rémy-de-Provence, France in September 1889. The painting is an oil painting on canvas and is 40 cm x 31 cm (16' x 13') and has a beautiful feel to it.

Portrait de l'Artiste sans Barbe ($71,500,000)



 This is an uncommon painting since his other self-portraits show him with a beard. The self-portrait became one of the most expensive paintings of all time when it was sold for $71.5 million in 1998 in New York.


The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi

Tuesday, November 1, 2011

Marni Kotak the woman who gave birth in an art gallery!!a look at some of our favorite controversial artworks of the last century

With so much argument over Marni Kotak the woman who gave birth in an art gallery last week, it seemed only right to put things in perspective with some of the most controversial art of the last century.


Today, many of us are desensitized to graphic imagery. But a few choice artists since the 1900s—call them visionaries, geniuses, perverts or psychos—managed to create something so intensely riveting that they still make cheeks red and stomachs queasy.

The following works contain their fair share of extremes. The holy trinity of sex, evildoers and excrement runs rampant throughout. But to truly make a controversial work of art, the grotesque has to be shown in a new light, in a way that can't be shaken off after you leave the museum. If the image leaves your stomach reeling, it should do the same thing to your mind.

Take a look at some of our favorite controversial artworks of the last century. What do you think: are they works of genius or pieces of crap? (Aside from the one that is, quite literally, pieces of crap.) Do you wish we'd included 'A Fire in My Belly' or one of Robert Mapplethorpe's photos? Should we have substituted Emin's 'My Bed' for 'Everyone I've Ever Slept With?' Leave a comment and let us know!

Chris Ofili, Virgin Mary

Former Mayor Rudy Giuliani called Ofili's use of elephant dung in the depiction of a religious figure "sick."
Whether or not he meant 'in the good way' has never been determined.

Richard Serra, Tilted Arc

Serra's "Tilted Arc" caused such a ruckus that it was dismantled less than a decade after its construction. People called the work an eyesore and claimed it disrupted their walk across the plaza. This installation serves as proof that you don't have to incorporate a murderer or bodily fluids into your work to make people angry.

Marcel Duchamp, Fountain

Duchamp hung a toilet bowl in a museum and declared it art; it was bound to cause a stir. Many were inspired by Duchamp's serious play and challenge to the notions of value, others thought it kind of stunk.

Damien Hirst, The Physical Impossibility of Death in the Mind of Someone Living

Damien Hirst's tiger shark in a tank of formaldehyde was called a "cultural obscenity" by art critic Robert Hughes. The work was sold by Charles Saatchi in 2004 for $8 million, the second highest price paid for a work of art by a living artist. While some people thought the shark was a bit extreme, at least it didn't depict an international super-villain, like the next piece...

David Cerny, Shark

Cerny's work riffs on Hirst's "The Physical Impossibility of Death in the Mind of Someone Living." Instead of a suspended tiger shark, Cerny used an underwear-clad model of Saddam Hussein, who supposedly fed his enemies to sharks. It was banned in a Belgian town by the mayor, who was scared that it would "shock people, including Muslims."

Tracey Emin, Everyone I Have Ever Slept With 1963-1995

Tracey Emin crafted a tent appliquéd with the 102 names of everyone she's ever slept with; it shocked the art world with it's intensely personal subject matter. There was a moment of extra outrage when someone spotted the name "grandma" but Emin quickly clarified that not all of the bed partners were sexual.

Marcus Harvey, Myra

The real Myra was one half of a couple which sexually assaulted, murdered, and buried five children in the sixties; Harvey's "Myra" is made out of children's handprints. Some viewers were so appalled they threw eggs and ink at it.

Pablo Picasso, Les Demoiselles d'Avignon

Picasso's "Demoiselles" are prostitutes, some of whom have tribal masks for faces. He referred to it as "The Bordello of Avignon," but the organizer of his exhibition felt that his title was too scandalous. The painting ultimately made a major impact on art of the period, as the shock gradually transformed to admiration.

Andres Serrano, Piss Christ

Andres Serrano took a plastic crucifix, submerged it in urine and took a picture. He was paid $15,000 for the work by the National Endowment for the Arts, and religious audiences denounced it for two decades before it was finally destroyed by angry viewers in 2011. Serrano was shocked, considering this piece is tame compared to his personal favorite 'Blood and Semen.'

Christo and Jean-Claude, Surrounded "Pink" Islands

This two week only installation involved over 7 miles of the titular pink fabric and was entirely financed by the artists. Many were enraged by the possible environmental threats of the piece. Others wished the islands hadn't had to be so...pink.
SOURCE
 
The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi

Thursday, October 20, 2011

As an alternative investment to gold, art has over years proven to be a real solid investment

 Today’s global economic crisis (GEC) which has hit hardest most developed countries, and whose economic experts are trying hard to rectify it, are results of the sub-prime financial debacle and the near collapse of the United States of America automotive industry.

The governments of most affected countries managed to quickly and decisively avert an immediate global economic meltdown, by using stop-gap measures of huge financial bail-outs to avert an economic slow-down. But this was at the cost of the real effects of the GEC being felt in the near future. In essence, these governments took over the financial responsibilities of temporary funding economic growth.

The question that one should ask is where did the government get the massive funding to plug the black-holes in their economies? The answer is they went to the printing press and printed fresh currency which they used to inject into their economies, in order to fill up the black-holes.

These measures brought some form of short-term relief to these economies by averting massive industry closures, high unemployment and most importantly an economic depression.  But it’s well known in economic circles that such measures always come with a hidden cost, printing currency to stimulate an economy can only bring short-term relief.
Today the results of such measures are just starting to be felt, with a steady rise in unemployment, company closures, credit crunch and property fore-closures. In essence these economies are going through a period of economic slow-downs or stagnation, better known as recession.

These symptoms are just the beginning of what is still come, and that is inflation. At the moment those with a general understanding of economics have started to take precautious measures to ride the tide of tough times that are set to come, by hedging their wealth and or savings against inflation by investing in art or gold.
That should explain why prices of art and gold have been achieving record prices.If one opens up the business section of any newspaper, one will read about record prices that gold is fetching in the markets , what is driving these record prices is the fact that many investors are liquidating their currency holdings and are investing in what has always been a safe-haven against inflation that being gold.

The reason why gold is regarded a safe hedge against inflation, is because of its scarcity, just like true art-works. The only known time that gold prices have been low was during the period when many central banks in developed countries opted to dispose the bulk of their gold reserves.

For one to fully understand the current events occurring in the global economy and to have reliable information to choose investment options in order to ring-fence themselves against the effects of the GEC soon to come, one must understand how the current currency system works.

Historically countries currencies were backed by what was known as “the gold standard,” this meant that the real value of every dollar printed by a central bank was backed by gold reserves held by the central bank. This meant that a central bank could not print currency above the value of gold held in their possession. In 1971 the then United States of America president Richard Nixon ended the international gold standard. The gold standard system is a monetary system where currency backed by gold, that is to say, the currency simply represents the gold that you own and can be converted into fixed quantities of gold freely.

From 1971 up to 1973 the Smithsonian agreement was passed pegging world currencies to the USA dollar rather than gold as a fixed exchange. In 1973 the Basel accord established the current floating exchange of currency rates we use today, called the fiat currency system. In Fiat currency system money is not backed by a physical commodity, instead its value is based on its relative scarcity and faith placed in it by people use it.

However, when people loose faith or confidence in the money, it irreversibly becomes worthless , regardless of its scarcity Initially a rapid growth in availability of credit is often mistaken for economic growth, as spending and business profits grow rapidly, and a rapid growth in equity prices. In essence as there are no real control measures to prevent the over-printing of currency in a Fiat system, a fake illusion of well-being and prosperity is created when in reality people are actually digging themselves a deep hole.

In the long run the economy tends to suffer much more by following contraction than it gained from the expansion in credit. In plain English, the economy starts shrinking. Hence the reason why some economies are now witnessing massive job losses, company closures and property fore-closures. When an economy reaches this stage, the next stage is the terminal effects of printing currency in Fiat system that of hyper-inflation.Hyper-inflation is the terminal stage of any Fiat currency, which occurs when money looses its value practically overnight. It is often the result of increasing regular inflation to the point where all confidence in money is lost, life savings are wiped out overnight and prices rise faster than people’s incomes.

Current financial instability has brought about lots of talk about international financial reform, and even return to the gold standard as proposed by some. The gold standard stands in contrast to Fiat currency which has no intrinsic value, but governments declare it to be legal tender, meaning it must be accepted as a means of exchange. One of the main benefits of the gold standard is that it protects citizens from hyper-inflation and debasing of the currency through excessive government spending. With a fiat currency, a government can print as much new money as it likes spending, which leads to a gradual decline in value of currency and citizens’ savings. Under the gold standard, a free banking system stands as protector of an economy stability and balanced growth.

In the absence of the gold standard there is no way to protect savings from confiscation through inflation. Russia and China have suggested the establishment of a super-sovereign currency, while Brazil and India have suggested substituting other assets for their dollar holdings. Currently the U.S.A and China are embroiled in a currency dispute over the value of the Yuan. The U.S.A is claiming that the Yuan is under-valued, giving China an advantage over the U.S.A in global trade markets, as Chinese exports are deemed to be cheaper than the U.S.A. The currency stand-off between China and the USA seems to have no end in sight as under a Fiat currency system, any powerful economic country can determine the value of their own currency to ensure no set system or measures can determine the value of their currency. What is inevitable is many countries are to go through a phase of hyper-inflation and the Fiat monetary system will eventually die a natural death, and be replaced by the gold standard system.

The question one must ask them self is, if the wealthy investors are hoarding onto gold bullion's and if currencies will be backed by the gold standard in the near future, then how does art come into the equation as a safe hedge against inflation? Firstly before one considers investing in gold they must understand that they need deep pockets, as a kilo bullion bar is currently trading at $45 000. Even after parting with such a huge sum, one must realise they can’t keep a $45 000 gold bullion bar under their bed, so monthly storage charges must be taken into consideration. Historically art has always been the alternative to gold.

During the period of high hyper-inflation in Germany which occurred after the First World War those who had invested in art came through that period better off, as the return on their investment in art-works out-performed investments in options that were available during that period. Most importantly art managed to beat the extremely high inflation rate, which would explain why so many art-works were looted during the Second World War.

As an alternative investment to gold, art has over years proven to be a real solid investment. With these uncertain economic times that we are in, its time to seriously consider your future by taking prudent pre-cautions to ring yourself against the effects of the current economic upheavals and events that are soon to come. In times of economic instabilities you are better off investing in art or gold.
SOURCE

The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Wednesday, October 5, 2011

This is an art market that’s definitely gotten its swagger back


 Do the high prices fetched at auction always indicate artistic merit? Aren't they often the result of a fraught bidding war between two super-rich collectors? Doesn't the $25 million stumped up for Jeff Koons' giant balloon model say more about the power of hype than the merit of the work itself? What's more, the market itself can easily be rigged. When Damien Hirst's diamond encrusted skull was purportedly sold for £50 million in 2007, rumour had it that Hirst himself was part of the consortium that bought it in order to drum up publicity and raise the market value of his other work.


So does the art market tell us only about fads and fashion and the egos of multimillionaires? Or should we overlook the hype and remember that in the long run the market rights itself and reflects the consensus on what great art really is? If there were just two names to remember from the 20th Century Art market, they would be Pablo Picasso and Andy Warhol who were among the 10 most sought-after and most expensive artists for the seventh year running. In 2007, an unprecedented year for Contemporary Art prices, Warhol’s total even overtook Picasso’s by $100m ($420m for Warhol vs. $319m for Picasso).Since then, the cubist has recovered his first place on the podium, although Warhol is still only $50m behind Picasso. However,in 2010, Warhol was in fact relegated to third position in the annual revenue ranking by the Chinese artist Qi Baishi.The 21st Century Art market has changed. Its extension eastwards has allowed China to impose its artists in an incredibly short timeframe. Qi Baishi, Zhang Daqian, Xu Beihong and Fu Baoshi are now all members of the closed circle of the most expensive and most profitable artists in the world, and their names are worth remembering.

There are more wealthy buyers for modern and contemporary art where the supply is more regular and the investment potential appears to be more attractive.The mood of Art Market is considerably brighter than it was two years ago. Global economic concerns remain, for sure, but recent months have seen spectacular sales not only in modern and contemporary art but also in fields as diverse as Chinese ceramics, antiquities, photographs and Old Masters. This is an art market that’s definitely gotten its swagger back.The emergence of wealthy collectors from Asia, the Middle East and South America in recent years has deepened the pool of buyers, especially for top-end masterpieces, and many of them remained in the market during the recession. Americans, who had largely stopped spending, started to return last year and are now back in full force.
 
The Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Tuesday, September 20, 2011

The death is generally Good for Artist's Prices

Paintings by Indian artists including Maqbool Fida Husain and Jehangir Sabavala, who both died this year, fetched $9.7 million in auctions by Sotheby’s (BID) and Christie’s International this week as U.S., European and Asian buyers bid above estimates.

A private U.S. buyer paid the top price of $1.1 million for Husain’s oil painting “Sprinkling Horses.” Husain, who began his career painting movie posters and had no formal training, died in June at the age of 95.

The painting was part of a Christie’s sale this week of South Asian modern and contemporary art that was worth $7.4 million, according to a statement from the auction house. A similar sale by Sotheby’s yesterday in New York was worth $2.3 million, the company said in an e-mailed statement.

Raja Ravi Varma’s picture of a “Himalayan Beauty” went to a private European buyer for $266,500, 78 percent more than its high estimate, Sotheby’s said. The painting passed though the family collection of Varma’s German printing technician. Varma was a self-taught artist who died in 1906.

Syed Haider Raza’s abstract work “Eglise” sold for $362,500 at the Sotheby’s sale. His “Saurashtra” sold for 2.4 million pounds in June 2010 in a Christie’s auction, a record for a modern or contemporary Indian work of art. Raza, 89, graduated from the Ecole Nationale des Beaux-Arts in Paris.

“The Cobweb Cloud” by Jehangir Sabavala, whose pictures feature subdued tones and dreamy landscapes, sold for $266,500 at Sotheby’s. The painter, who studied at the Heatherley School of Fine Art in London and Academie Julian in Paris, died on Sept. 2.

The Christie’s sale sold 13 of Husain’s works, which fetched a total of $4.2 million. His works sold for a total of $557,500 at the Sotheby’s auction.

In June, a painting of the Hindu goddess Kali by Tyeb Mehta, who died in 2009, sold for $1.3 million, more than three times its estimate, at a $4 million online auction by Mumbai- based Saffronart as demand for Indian artworks increased.


The
Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Friday, September 16, 2011

Forgery, hoax and theft are the three main crimes that regularly appear on the art market.

Fraud tends to exist wherever it can on the art market, which seems particularly susceptible to swindling, fakes and other illegal dealings. Few and far between are the weeks when the legal system is not busy dealing with some sort of theft, con or forgery.

The most recent affair is currently happening in Florida and has been reported by The Atlantic Wire. The article reveals how an art dealer has managed to sell various anonymous paintings for millions of dollars, passing them off as works by famous artists. Fearless when it came to using big names, Matthew Taylor proposed pieces by Monet, Van Gogh, Pollock and Rothko.

Arrested this week, American authorities put an end to Taylor’s five-year scam of duping collectors who, for the time being, remain unidentified. Explaining how the case involves approximately one hundred works that are circulating on today’s market, The Atlantic Wire outlines Taylor’s technique: he would buy pieces by unknown artists with similar styles to those of highly sought–after names, then erase the original signature with the new one. Finally, to pass off the perfect fake, Taylor would attach a museum certificate to the back of the work in order to reassure potential buyers.

Forgery, hoax and theft are the three main crimes that regularly appear on the art market. With the trade principally based on a system of confidence and no official regulatory body, the battle against such infractions is incredibly difficult and complicated. When looking at Interpol’s results, they are encouraging, but far from sufficient.

Created in the mid–90s, the international database lists 37,000 objects, antiques and artworks stolen within 123 countries. The system allows public authorities to retrieve 5 – 10% of the works registered. To improve these percentages, art market professionals unanimously underline the importance behind the speed with which information is transmitted: the faster one announces a work missing, the better one’s chances of retrieval.

Given the art market’s secretive and non–transparent tendencies, the fight against fraud is extremely complicated. If the circulation of information is a key point for any victim of theft, it is just as important for potential buyers to do their homework and seek advice from reliable sources concerning the artworks that they are looking to purchase.



The
Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Friday, September 2, 2011

The Gentleman Artist and Padma Shri Jehangir Sabavala is no more

Mr. Sabavala’s 62-year career started with his first solo exhibition at the Taj Mahal Hotel in Mumbai, put up with the help of fellow artist M F Husain and some carpenters. His last exhibition was in 2008.Beginning his career in the mid 60s, Jehangir Sabavala has always tried to find his own individual style, from the trends being portrayed by his contemporaries. He is one of the first artists in India to organize traveling exhibits, taking his works to different cities.The work of Jehangir Sabavala is heavily influenced by his spiritual affiliation with nature.

His canvases capture the open and majestic changeability of a landscape, reflecting his own liberation of spirit, freed of repression through the process of his work. Sabavala’s visual depiction of nature are the visual equivalent of his emotions; an outlet for his sensationalist subject matter. In Sunflower, Field Vinchurni I, Sabavala creates a vista from a series of sketches made during a visit to a farm in rural Satara, set in the shadow of the Sahyadri Mountains. The yellow dots of flowers stand out amidst the painting’s gentle hue, indicative of the artist’s ability to merge both impressionist and semi-cubist style with subtle grace and charm.

Far from sentimental, Sabavala’s paintings depict the ambivalence of nature with its transcending beauty and sublime magnitude masking, in comparison, the terrifying inconsequence of humankind. His paintings of figures and faces often poignantly mirror the tragic destiny of man. In the subdued They Seek but do not Find (a negative connotation of the teachings of Christ) the viewer comes upon two boys, tired and downcast, sitting among rocks, drawing attention to the mottled gradation of tones that unifies stone, shadows, the leached desert soil, and the hint of vegetation.

Jehangir Sabavala prefers veiled light and middle tones to pure colours and loud imagery, creating geometric wedges out of paint, which he puts together to form vast tranquil scenes.
His art is a mixture of academic, impressionist and cubist texture that plays with form and colour to create a quiet rendering of the scene’s atmosphere. Having acquired a distinct style by the mid 60s, Sabavala has continued to carry reoccurring themes forward into new works yet also touching on unfamiliar territory, breaching new frontiers so that the spirit of adventure and discovery is not fossilized, but remains alive and vital.

Jehangir Sabavala was born in Mumbai in 1922. He studied in the best known art colleges of the world. After receiving his diploma from the J J School of Arts in 1944 he went to Europe and studied in the Heatherley School of art, London from 1945 to 1947, the Academic Andre Lhote from 1948 to 1951 Paris, the Academic Julianfrom 1953 to 1954 and the Academic de la Grande Chaumiere in 1957.

He has held a number of one man shows across India and abroad, and participated in prominent exhibitions all over the world. These include the ’Art Now in India’ Exhibition, the Venice Biennale, the exhibition of the Arts Council of Great Britain, the 7th Triennale, India, the Masters of India Art Show, Mumbai, the Southebys Islamic & Indian Art show, London and the Christies Indian Contemporary Paintings, London. He has participated at the Salon National Independent, Paris 1950, the Venice Biennial, 1954; the Commonwealth Arts Festival' London 1965; Contemporary Art ftom India, Washington 1975; Asian Artists Exhibition, Fukuoka Art Museum Tokyo, 1979 and Modem Indian Painting, Hischhorn Museum Washington 1982. Apart from several international auctions he has also participated in 'Chamatkar-Fantasy in Indian Art' presented by CIMA Gallery at Whiteleys' London 1966

Three monographs have been published on him already, by eminent art publishers including Tata- McGraw-Hill and the Lalit Kala Academy, New Delhi. ‘Colours of Absence’ - a film on his life, won the national award in 1994.

Jehangir Sabavala has also been felicitated with many prestigious awards for his unique and sustained contribution to the field of contemporary Indian Art with a global perspective, one of these distinctions include the Padma Shri, presented bt the Govt. of India to him in 1977.

This grand son of Sir Cawasjee Jehangir is no more, it's a great loss to India and Art World, may his soul rest in peace.


The
Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Friday, August 26, 2011

Art Market trends detected in the practice of fine arts in India

Indian art market started truly maturing. The buyers now started showing lesser reliance on galleries and investments started based on more informed choices.The recent ArtTactic Indian Art Market Confidence Indicator is up by 19.2% from October 2010, helped by a strong confidence in the Indian economy. Despite a below-par auction season in New York in March 2011, experts in the Indian art market believe the positive economic sentiment will start filtering into the Indian art market, which has been troubled since the speculative boom in 2008. With economic growth set to out-pace China, the survey experts believe India’s economic growth will help fuel the Indian art market. The Economic component of the ArtTactic Indian Confidence Indicator has increased 21% from October 2010.

Three primary trends are now being detected in the practice of fine arts in India. Firstly a search for a distinctly Indian identity continues to dominate artists’ minds. Often it leads to the use of materials and objects which are distinctly Indian.

The second important trend that is being observed is the use of computer graphics, photography, modern technology and a host of other media in the creation of art works.

The third trend is the search for an individualist language of expression. The most important new style that fits this new trend is ‘Pseudorealism’, an art-genre which has originated solely in India. Only six years since inception, Pseudorealism has already a huge following among the new generations of India.



The
Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.

Saturday, August 13, 2011

Art Market: Top 10 Best Selling Lots, Top 10 Most Disappointing Lots and Top 10 Most Surprising Lots

Last week Sotheby’s reported consolidated sales of a record $3.4 billion in the first half of 2011, up 54% from last year in the 2nd quarter. Christie’s previously released its six-month total of $3.2 billion, up 15% from last year.

As the art world now anxiously awaits to see how severely the global market downturn will affect its recent re-stabilization, MutualArt took the chance to look back and get caught up for the fall auction season. Gear up for September with a review of the top lots, steepest flops and biggest shocks so far of the year.


Top 10 Best Selling Lots

Francesco Guardi managed to overcome the supremacy of Picasso and capture the top slot, achieving the highest hammer price so far this year. Picasso’s buying power held strong though in second place and with two lots in the top ten. The only other artist with more than one lot here is Francis Bacon, whose work enjoyed a remarkable market comeback this year.

1) £26,697,250 - Francesco Guardi, Venice, a view of the Rialto Bridge, Looking North, from the Fondamenta del Carbon, (pictured below) oil on canvas, executed in the late 1760s. World auction record for Venetian view painting; World auction record for the artist; Highest price paid at an international auction house in 2011; Second highest price paid ever for an Old Master painting. (Sotheby’s London, 7/6/2011)
2) £25,241,250 - Pablo Picasso, La Lecture, oil on panel, 1932. (Sotheby’s London, 2/8/2011)

3) £24,681,250 - Egon Schiele, HÄUSER MIT BUNTER WÄSCHE (VORSTADT II), oil on canvas, 1914. World auction record for the artist. (Sotheby’s London, 6/22/2011)

4) $38,442,500 - Andy Warhol, Self-Portrait, in four parts, acrylic and silkscreen on canvas, 1963-64. Highest price ever paid for a portrait by the artist. (Christie’s NY, 5/11/2011)

5) £23,001,250 - Francis Bacon, Three Studies for Portrait of Lucian Freud, oil on canvas, 1964. (Sotheby’s London, 2/10/2011)

6) £22,441,250 - George Stubbs, Gimcrack on Newmarket Heath, with a trainer, a jockey and a stable lad, oil on canvas, circa 1765. World auction record for the artist. (Christie’s King Street, 7/5/2011)

7) $33,682,500 - Mark Rothko, Untitled No. 17, oil on canvas, 1961. (Christie’s New York, 5/11/2011)

8) $29,202,500 - Sir Lawrence Alma-Tadema, The Meeting of Antony and Cleopatra: 41 BC, oil on panel, 1883. (Sotheby’s New York, 5/5/2011)

9) £17,961,250 - Pablo Picasso, Femme assise, robe bleue, oil on canvas, 1939. (Christie’s King Street, 6/21/2011)

10) £17,961,250 - Francis Bacon, Study for a Portrait, (auction video below) oil on canvas, 1953. Second-highest price for any work in this category at Christie’s London. (Christie’s King Street, 6/28/2011)

Top 10 Most Disappointing Lots:
Monet was noticeably absent from the best-selling list, and unfortunately appears here twice for unsold lots. Other lots by blue-chips artists failed to sell or sold below their low estimates as buyers remained cautious, ignoring often over-enthusiastic auction house catalogs and paying close attention to the artworks’ condition.

1) Andy Warhol’s Self-Portrait, (above left) sold below the $30,000,000-40,000,000 estimate for $27,522,500 (Christie’s New York, 5/11/2011)

2) Claude Monet’s Nymphéas, Not sold against an estimate of £17,000,000-24,000,000 (Christie’s King Street, 6/21/2011)

3) Pablo Picasso’s Femmes lisant (Deux personnages), sold below the $25,000,000-35,000,000 estimate for $21,362,500 (Sotheby’s New York, 5/3/2011)

4) Jeff Koon’s Pink Panther, (above middle) sold below the $20,000,000-30,000,000 estimate for $16,882,500 (Sotheby’s New York, 5/10/2011)

5) Claude Monet’s Iris mauves, Not sold against an estimate of $15,000,000-20,000,000 (Christie’s New York, 5/4/2011)

6) Robert Rauschenberg’s The Tower, Not sold against an estimate of $12,000,000-18,000,000 (Christie’s New York, 5/11/2011)

7) Pablo Picasso’s Couple à la guitare, sold below the $10,000,000-15,000,000 estimate for $9,602,500 (Sotheby’s New York, 5/3/2011)

8) Francis Bacon’s Untitled (Crouching Nude on Rail), sold below the $10,000,000-15,000,000 estimate for $9,602,500 (Christie’s New York, 5/11/2011)

9) Paul Gauguin’s Nature morte à "L'Espérance", Not sold against an estimate of £7,000,000-10,000,000 (Christie’s King Street, 2/9/2011)

10) Thomas Gainsborough’s Portrait of Colonel John Bullock, (above right) Not sold against an estimate of £3,500,000-5,000,000 (Chrsitie’s King Street, 7/5/2011)

Top 10 Most Surprising Lots

Old Master and Asian artists enjoyed relative success these six months, fetching enthusiastic bidding in their categories. At Christie’s alone, sales in Asia totalled £296 million ($482.5 million), up 48% while sales in America remained down. The trend towards Asian art and increasing buying power from Asian collectors is clearly evident from this list.

1) Rome, The Castel Sant'Angelo and the river Tiber from the south by Gaspar van Wittel. Sold for £718,850 - 3,494% above estimate (Sotheby’s London, 7/7/2011)

2) 1985-4 by Yu Youhan. Sold for HK$14,100,000 - 2,720% above estimate (Sotheby’s Hong Kong, 4/3/2011)

3) Appearance of Crosses 90-6 by Ding Yi. Sold for HK$17,460,000 - 2,394% above estimate (Sotheby’s Hong Kong,
4/3/2011)

4) GRAYGROUND by Ronald Ventura. Sold for HK$8,420,000 - 2,306% above estimate (Sotheby’s Hong Kong, 4/4/2011)
5) Spring Calling by Wu Guanzhong. Sold for HK$17,460,000 - 1,646% above estimate (Christie’s Hong Kong, 5/31/2011)

6) Sans Titre by Wols. Sold for £2,617,250 - 1,645% above estimate (Sotheby’s London, 2/10/2011)

7) Autumn in the Village by Lin Fengmian. Sold for HK$23,060,000 - 1,318% above estimate (Christie’s Hong Kong, 5/31/2011)

8) Series "X"? No. 3 by Zhang Peili. Sold for HK$23,060,000 - 1,153% above estimate (Sotheby’s Hong Kong, 4/3/2011)

9) Lotus and Landscape along Highway Hengguan by Zhang Daqian. Sold for HK$56,660,000 and HK$52,180,000, respectively - 809% and 745% above estimate (Christie’s Hong Kong, 5/31/2011)

10) The Meeting of Antony and Cleopatra: 41 BC by Sir Lawrence Alma-Tadema (pictured below). Sold for $29,202,500 - 484% above estimate (Sotheby’s New York, 5/5/2011)
Written and Compiled by MutualArt.com Staff



The
Ashok Art Gallery is internationally known for one of its most important holdings: more than 2000 major works by the world's most significant Artists.Over the past years, as Ashok Art Gallery has become a major centre for contemporary visual art, the Gallery has built a strong collection of contemporary work of different artists, we became a sponsor of the STANDUP-SPEAKOUT Artshow, Organized by Art Of Living Foundation and United Nations.Organized an International Contenmporary Art Exhibition including artists from USA, The Nederlands, Pakistan and India.We have also participated at Art Expo India 2008, 09 Mumbai and India Art Summit 2008 New Delhi.