18 Jul 2007

Art Investment - installations and assemblages

(By Nalini S Malaviya)

Installations and assemblages are some new media art that have started making headways into the living room and office interiors as well. New media art is a relatively recent trend and art collector Harish Padmanabha explains, “art is never stagnant, it is very dynamic and constantly evolves to reflect on society and the environment. Therefore, art trends too keep changing.”
While installation art is a form of conceptual, three-dimensional art that combines different mediums and utilizes the concept of space as the main element of expression, it is usually (but not always) temporary in nature. For instance, an installation could be an arrangement, assemblage or even a performance and may combine various disciplines such as painting, sculpture, architecture, video and sound. Of these, assemblages and sculptures are gaining in popularity by art collectors and even investors to some extent.
In fact, corporate entities are increasingly turning to art as an avenue for investment. While, paintings remain the preferred and more conventional mode of investment, new media art has also begun to find favors.
It so happens that installations (that are not transient in nature) are ideal for corporate offices with well-designed modern interiors. An installation usually requires a large space to be able to be displayed well, which is more feasible in an office environs rather than in a residential home. A mixed media installation that combines the corporate image, work ethos and business needs along with aesthetics is bound to draw eyeballs in a space such as the lobby, reception or the entrance. Usually, an installation is commissioned, and then conceptualized and built according to specific requirements. Getting a well-known and established artist to do one ensures it is a long-term investment. Plus, the association with an artist brand adds value to the corporate image as well.
Assemblages, especially ones that are smaller in size are finding more and more takers amongst individual collectors. The novelty value and the artist brand have contributed greatly to its growing success.

(Published in Financial Times)

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