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.

Indian Classical Art Set to Soar – said Art Market Expert Nicholas Forrest

My big tip for 2010 is that Indian classical art will increase in value considerably so my advice is to take advantage of the very low prices that such works are being offered for at the moment.I am really looking forward to seeing the new “Maharaja: the Splendour of India’s Royal Courts” exhibition which will be opening at the Victoria and Albert museum in London on the 10th of October. According to the V&A website “The heyday of the maharajas began in earnest after the collapse of the Mughal empire in the early 18th century. The exhibition will open with this period of chaos and adventure and will close at the end of British rule in 1947, when Indian princes acceded their territories into the modern states of India and Pakistan.”

Although it may not seem that exciting, this exhibition is a very important exhibition in my opinion because of the extent to which historic Indian works of art are undervalued. One of the reasons for this is the lack of cultural sector infrastructure in India which means that there is relatively little scholarly or curatorial attention paid to the works of the 18th and 19th centuries. In particular, the work of 18th century Indian artists is particularly impressive and is very highly valued because of the significant events that happened at this time that were important to the history of India. With so many wealthy people in India who are becoming more interested in fine art and cultural objects, I believe that it is inevitable that the value of classical works of art and other objects that have cultural and historical significant will increase in value very shortly.

Although a number of Indian billionaires have had their wealth decreased by the financial crisis (until last year India had the highest number of billionaires in Asia), there are still 24 Billionaires in India according to Forbes magazine (March 2009), which gives India the 6th highest number of Billionaires – only 4 billionaires behind China and two spots on the list. India was ahead of China in the 2008 rankings when they had 54 billionaires but is now behind them due to the financial crisis but the outlook for Indian’s economy is very good and is even tipped to overtake the Chinese economy.

In relation to the art market, I think that a comparison between China and India is very relevant. Both countries have a rich cultural history, and both countries are experiencing an increase in new wealth which has given more people the means to indulge their passion for fine art and cultural objects. The art market boom showed that a major increase in the number of wealthy people in a certain country usually results in what is essentially a buy back of that countries historic and cultural artefacts from abroad. This happened with Russia, Japan, China and is sure to happen with India.

Althought the market for contemporary Indian art has been hit particularly hard by the financial crisis combined with the lack of patronanage as well as the lack of curatorial and scholarly attention given to India’s contemporary artists, the work of the well known modern Indian masters has faired remarkably well. There is obviously still a considerable amount of wealth in India that is available to be spent but as with other art markets around the world, buyers are being much more discerning and careful with their money in light of recent events. Works of art that are seen to have cultural and historic value have the characteristics (stability and justifiable value) that buyers are looking for at the moment.

My big tip for 2010 is that Indian classical art will increase in value considerably so my advice is to take advantage of the very low prices that such works are being offered for at the moment.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Indian Classices by Baladev Moharatha @ Ashok Art Gallery


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 Mumbai and India Art Summit New
Delhi.

Art Expo India 2009 will act as a window to peep into Indian art and its growing Market

After a significant fall in art prices last autumn, domestic as well as international galleries are optimistic about the contemporary art market. Experts predict a sooner than expected, however, a gradual recovery.

According to ArtTactic, a market research firm, the market sure has strengthened after a noticeable drop in average prices for contemporary Indian art at the recent auctions (roughly 76% during the period of September 2008 and March 2009). Average auction prices for Indian art are currently at around $24,536, up from the lows of $13,827 in March 2009.

In an effort to add momentum to the recovery, Art Expo India 2009 is bringing together the country's largest fine and popular art galleries, art dealers, artists, experts and art publishers. Apart from thousands of quality art works by Indian artists, it will include international galleries that will bring works from their top . Art Expo India 2009, in a way, provides art investors and collectors a cross section of Indian and world art.

Their spontaneous response suggests that most exhibitors are keen on showing their best works in the financial capital of India. They want to use the fair as an opportunity to develop a network, add to their contacts, enhance collaborations and gauge the mood of the domestic market.
From 25‐27th September 2009, the cosmopolitan financial capital of India, Mumbai will be hosting the celebrated Indian contemporary Art Expo. Leading Indian and nternational art galleries will be taking part in this event. The Art Expo promises to be a significant cultural and social event in the Indian Subcontinent. The discussions at the Art Expo feature prominent international art world personalities including Kay Saatchi, Judith Greer, Princess Tatjana zu Schaumburg‐Lippe, Kirsty Ogg and many other Museum curators, consultants and collectors. Now in its 2nd year, it is the largest art fair devoted to modern and contemporary Indian Art. Organised at the Nehru Centre in Mumbai, this year’s show exhibits a wide mix of cutting edge, eclectic and exciting art works. A series of interactive conversations with experts will demystify the language & knowledge of art to visitors.
The Art Expo India is a high profile meeting ground for art dealers, galleries, artists and collectors. This expo has popularised Indian contemporary art across cultural, social and economical boundaries in India and internationally and plays a catalytic role in building a market for contemporary Indian art both in India and globally. It is a high end shopping event presenting a wide array of works by famous and upcoming Indian artists. Publishers, dealers and gallery owners will showcase cutting edge work in different media ‐ from paintings and sculpture to prints and photography. The exhibition holds the largest gathering of art professionals in India and is the only place where one can meet thousands of new collectors and artists on a one‐to‐one basis.
Over 10,000 art lovers including collectors, buyers and corporate decision makers, high net worth individuals, leading Indian business families, CXOs from different multinationals and celebrities from Bollywood will be attending this prestigious social event in the Indian art calendar.
Featured Speakers at the EXPO Kay Saatchi will be delivering the keynote on spotting young talent and building up an art collection.

Some of the other renowned and featured speakers are:
1. Judith Greer ‐ International art collector and author
2. Kirsty Ogg ‐ Co‐Curator of The White chapel gallery
3. Ranjit Hoskote – Contemporary Indian poet, art critic, cultural theorist and
independent curator
4. Jitish Kallat – Dynamic and acclaimed worldwide, Indian Contemporary artist.
5. Sharan Apparao ‐ India’s leading contemporary art gallerists producing
exhibitions in Delhi, Mumbai and Chennai
6. Menaka Kumari Shah – Christies Representative for India
7. Dr. Alka Pande – Consultant Art Advisor, Curator of Visual Arts Gallery at the
India Habitat Centre in New Delhi and a prolific writer on Indology and art history
and author of several well‐acclaimed books.
8. Satish Manashinde ‐ Renowned lawyer
9. Anjolie Ela Menon – India’s leading contemporary female artist. Her paintings
are in several major collections
10. Bose Krishnamachari – Famous multi‐disciplinary artist who has exhibited in
numerous solo and group exhibitions internationally
11. Shantanu Poredi – Renowned architect. Designed many interesting international
and Indian projects
12. Rajshree Pathy – Eminent entrepreneur and businesswoman and Art
Connoisseur
Visitors will include art collectors, connassiours, architects and interior designers, buyers and corporate decision makers. These important visitors will be specially invited to attend the show. At least 20,000 quality visitors are expected.

Exhibitors of ART EXPO INDIA 2009

Apparao Galleries Madras, ICIA Mumbai, Sakshi Mumbai, Latitude 28 Delhi, Jolrong.com Singapore / Bangladesh, Indian Art Ideas Delhi , Dhoomimal Gallery Delhi, Art Musings Mumbai, Art Seefeld Switzerland, Gallery Beyond Mumbai, Ishka Cochin, Priyasri Art Gallery Mumbai, Sara Arakkal Banglore, Ashok Art Gallery Delhi, Gurgaon Art Centre Delhi, Art Inc Delhi, Wonderwall Delhi, Pink Ginger Arts, 1x1 Art Gallery Dubai, Marigold Fine Art Delhi
Despite the recession and the subsequent fall in prices, experts feel the market for fine art is still very strong, though not as hyped as it was a couple of years ago. Importantly, long term collectors want to use this phase to build on their portfolios. Especially, a host of investors-individual as well institutional- from European and American art circuit are looking to add Indian art to their collections. For many of them Indian art is still new. Art Expo India 2009 will act as a window for them to peep into Indian art

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.
Last year 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 Mumbai and India Art Summit 2008 New Delhi.

Indian Art Market News, the first Indian Art Fair reviews

The recent Art Summit was the Indian art scene’s attempt to climb a new rung in its international aspirations.

astounding 10,000 art enthusiasts walked in to witness India’s First International Art Fair, India Art Summit(TM) 2008, firmly establishing it as a one stop destination for art in India. With an overwhelming mix of art collectors, artists, critics, curators, students and art enthusiasts from across India and overseas, the Summit achieved exactly what it set out to - making art, and the knowledge of art, accessible to a widespread audience.Commercially speaking, the fair clocked in a record sale of approximately 50%, with the 34 participating galleries selling over 280 artworks worth Rs.10 crores approximately. Given that the total value of the 550 artworks on display was approximately Rs. 20 crores, India Art Summit has emerged as one of the most successful first editions of any art fair across the world.With all eyes now on India, event producers Hanmer MS&L, have announced plans to schedule India Art Summit 2009 between 19th - 22nd August’ 2009 in New Delhi. Next year, the fair is proposed to be over three times bigger and applications are already pouring in from across India and world. While in the first year, the focus was largely on Indian art and Indian galleries, the second year will see participation from galleries across the world showcasing a sizeable array of artworks from different parts of the world.
Ashok Art Gallery is a five-yearold Delhi gallery that largely functions online. A mom-and-pop operation with a handful of unknown artists, Ashok Art Gallery has never had any exposure in the media. Their only previous art fair experience was with the Mumbai art expo earlier this year. As one among 35 galleries that participated in the recent India Art Summit (between August 22 and 25), Ashok Art Gallery did not expect to become frontpage news. But their 27-year-old Oriya artist Kanta Kishore’s marble sculptures of rolled-up newspapers were sold within hours of the fair’s opening. Gallerists Ashok Nayak and Kavita Vig, Kavita’s husband Bharat and septuagenarian mother-in-law watched astonished as the art young Indian superstar Subodh Gupta and politician Maneka Gandhi came to their stall. And in their wake, thousands of visitors and the press.Sculptures and installations sold almost as well as paintings, signalling a new trend. The panel of speakers and choice of topics at the Art Forum also drew many accolades and was deemed as amongst one of the best such initiatives of its kind, internationally.
Mr. Sunil Gautam, Managing Director, Hanmer MS&L commenting on the fair said, “It is great to see that India Art Summit has emerged as the most inclusive collaborative art platform in India in it’s very first year. We believe that this initiative is a step in the right direction to put India on the global art fair circuit.”Commenting on the success of the fair, Mr. Philip Hoffman, Chief Executive, The Fine Art Fund said “The Indian market is very important in the global art scene and this fair is a major step. I can imagine this to be major fair in Asia competing alongside London, Miami and Basel in the next 5-10 years. The sales results of the fair seemed very impressive by comparison to other fairs in their first year.”India Art Summit - BackgrounderThe art fraternity in India has for long felt a gap and the need for a collaborative industry platform in the country owing to the phenomenal growth and global interest in Indian art. While the art fraternity the world over gets numerous opportunities to interact and collaborate through various art fairs, biennales & expos, there was no such platform in India. Therefore the time was right for India to offer a suitable platform for art. The initiative has received invaluable recognition and endorsement from the Ministry of Culture, Government of India and Sotheby’s.The Summit hopes to achieve the dual purpose of, on one hand, serving as a window for International collectors to get a single access point to Indian art and, on the other, exposing the Indian collectors to a range of global Art that will be showcased at the fair in the coming years. More than just a place for buying and selling art, this initiative will enable diverse stakeholders from India and around the world to come together and discuss the creative and commercial aspects of Indian art.Today, Indian art is greatly appreciated both internationally and within the country, annually growing at 30-35%, the Indian art market is currently worth Rs 1500 crores. The Indian art market has gone up by 485 percent in the last decade making it the fourth most buoyant art market in the world. The total auction market size of Indian art has changed from US $5 million in 2003 - just five years back - to nearly US $150 million this 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. Last year 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 Mumbai and India Art Summit 2008 New Delhi.

India Art Summit 2008, India's modern and contemporary art fair

India Art Summit™ 2008 has received an overwhelming response with over 90 applications from galleries and art businesses. The art fair will house 34 of the best exhibitiors of Indian art representing over 12 regions from India & overseas. The India Art Summit™ will therefore showcase the most diverse range of modern and contemporary paintings, sculpture, photography, mix media, prints, drawings and video art by veterans and upcoming artists from across the country. The 3 days in August will see the largest congregation of art collectors, a new wave of investors and art lovers from different geographies.

There will also be a day long interactive seminar with internationally renowned speakers like Dr. Robert Storr, Dr. Hugo Weihe, Mr. Philip Hoffman, Ms. Geeta Kapur, Prof. Rajeev Lochan, Ms. Anjolie Ela Menon, Mr. Arun Vadehra, Mr. Dinesh Vazirani.

PROGRAMME DETAILS:

22nd August 2008 (Friday)

11:00am - 2: 00pm (Collectors Preview by invitation only)

2:00pm -8:00pm (Fair open)

23rd August 2008 (Saturday)

11:00am - 8:00pm (Fair Open)

10:30am - 6:30 pm (Day long seminar)

7:30 pm onwards (Cocktails and Dinner at Intercontinental The Grand - by invitation only)

24th August (Sunday)

11:00am - 6:00pm (Fair Open)
Looking for quality art works from upcoming young artists? just step in...
ASHOK ART GALLERY
STALL NO - A-30
India Art Summit 2008

Indian Art Expo 2008, a new begining in Indian Art Market

It's an idea whose time has come. Art fairs and expos are held as a matter of routine all over the world. Art Expo India 2008 Mumbai is determined to catch up the global Art Market Trend.
Vickram Sethi, gallerist, curator and entrepreneur, takes this first significant step with Art Expo India 2008, which brings together professionals from various branches of the art world: From galleries to framers, buyers to artists at the World Trade Centre March 14-16, it has been organised by the Trade and Technology Exposition Co (India) Pvt Ltd, established in 1987 as an exhibition organising company headed by Mr Vikram Sethi.
He has managed to bring together art galleries from all over the country, Sethi says, even though many are still hesitant. "They want to wait and see how this one goes," he smiles. Those that have signed up include Emami Chisel Art Pvt. Ltd. , Marvel Art Gallery, Karma Art Gallery, Archer , Ashok Art Gallery, Nitanjali Art Gallery, Arushi Arts Gallery, Art India Publishing Co. Pvt. Ltd, Art & Soul, The Osmosis Gallery, Institute of Contemporary Indian Art, Klakriti Art Gallery, The Art Trust, Ashish Balram Nagpal.

In time, Sethi explains, there will also be support services showcased at the Expo — insurance, valuation and more. Art supplies and artists' facilities are not being planned, at the moment. Sethi looks to this collection of industry-associated services being a huge success, since the art market in India is growing rapidly.

"It used to be NRIs buying art, but now every young couple wants to own something that they can be proud of," he says. And this is where they can start.Harsh Goenka and actress Dimple Kapadia cutting the red ribbon and inaugurating the show. Making their arty-hearty presence felt at this ‘making a business out of art’ affair were a number of the city’s gallery owners, artists and art dealers, who came to check out the various stalls and works on display. Artexpo India 2008, which ends last week, offered Mumbaiites a chance to mingle with art industry professionals from across India. Young Indian Artists like Chintan Upadhyay, Pratul Dash, Venkat Bothsa, Amitava Dhar, Sajal Patra, Kanta Kishore, Jamal Ahmed, Gadadhar Ojha, Anup Kumar Chand, Binoy Varghese,Jenson Anto,Pradosh Swain and Sanjeev Sonpimpare were hot favorite amongst all showcased and Ashok Art Gallery’s young artist representation was found most hunting place for all visitors.

Dimple was very impressed with the entire concept of buyers, gallerists and collectors all coming together under one roof. “Art Expo India will open the market for a wide range of products and services,” Vickram Sethi was overheard explaining to a guest.Also present at the show opening were Laila Khan-Rajpal, Pravina and Jamal Mecklai, Sarayu Doshi, Richard and Katherine Tan and artists Sajal Patra, Prithivi Soni, Vinod Manwani, Kanta Kishore, Pradosh Swain, Sanjoy Bose, Chintan Upadhyay, Sanjeev Sonpimpare and Jenny Bhatt. Art for art’s sake, indeed!
Ashok Nayak
Curator and Exhibition Director
http://www.ashokartgallery.com/

indian art expo, indian art fair, Indian art market, Indian young artists