Showing posts with label Investing in Art. Show all posts
Showing posts with label Investing in Art. Show all posts

29 Oct 2009

Art on wheels

(By Nalini S Malaviya)
A car completely covered with copper trimmings and intricate designs is not a common sight. But, this is exactly what you see when you arrive at Sara Arakkal’s gallery in Whitefield. The gleaming copper reflects the afternoon sunlight, highlighting the elaborate patterns that have been so painstakingly worked upon the body of the car. Artist Yusuf Arakkal’s brainchild; he has spent the last five years in conceptualising, designing and converting his old Fiat car into a work of art. There is an interesting story behind this car. Arakkal reveals, “I got this car – a 1956 Fiat Millicento in 1986 in exchange of a couple of paintings and a sculpture from art collector Harish Padmanabha. It so happened that Harish came over to collect the paintings and we decided to have a drink to celebrate the occasion. On the way we stopped at the car workshop and the moment I saw this champagne-grey coloured car I just fell in love with it. I asked Harish if he wanted to sell it and he agreed. We settled for it and I drove back home in this car.”
Yusuf Arakkal with his artomobile
This was Arakkal’s first car in Bangalore and understandably, he has been very attached to it, and when it started to wear out, he was reluctant to part with it. Fortunately, the artist in him took over and he decided to convert it into a sculpture-cum-installation. As he wanted to retain the original classic shape of the car, he toyed with several ideas before deciding to use copper sheets to cover the car completely. Not an easy task as the final product had to be artistic as well as aesthetic.

According to Arakkal, almost a ton of copper has gone on the car in the process of altering it. A team of highly skilled craftsmen have worked on it for the last few years. A pattern inspired by wheels has been used on either side of the body of the car. Synonymous with the mobility of the vehicle and as a symbol of development and progress, the wheels are also inspired by a series of paintings Arakkal did in the 1970s. Special care has been taken to retain the patina of copper and several coats of sealant have been used to protect it from oxidation or weathering effects.

This converted vehicle - an artomobile is soon going to Delhi and will be showcased on the lawns of a new art gallery. Well, one thing is certain, this car is sure to catch your eye.

(Published in Bangalore Mirror)

14 Oct 2009

Investing in art

(By Nalini S Malaviya)


A recent report on the state of the stock market highlighted that the Sensex was climbing up in the last couple of months based on the fact that a few stocks were performing exceptionally well. A similar trend is seen in the art market, too. In the past, when prices of certain artists shot through the roof it not only created a wider market for art, but riding on this wave most of the other artists, too, hiked up their rates. And, in fact, a majority of them succeeded to a large extent. It was seen that anything related to art was on a high during that period.

However, as an investor it is important to realize that not every painting or sculpture will fetch the same returns. Incidentally, a few years ago, students and new artists were able to price their works beginning at Rs. 5,000. But soon after, the starting prices were close to Rs. 20,000. In a way, the base price itself has gone up considerably.

One question that has always emerged is that how does one evaluate whether a work of art is actually worth the quoted price. Apart from logical factors such as rarity and quality of the work, historical value, the artist’s name and its worth from a collector’s point of view, one finds that pricing is predominantly driven by demand, or, its perceived investment value.

In that respect, claims that were rampant a few years ago regarding appreciation in investment potential of art were not entirely true. Not every painting or artwork fetched the same amount of projected returns. In fact, a very small percentage of artists saw a large appreciation in price. Now that interest in art is once again rising, it helps collectors and investors to be aware of these points. Just as one invests in stocks after a lot of research, one must do the same to invest in the right kind of art. But, in case money is not a criterion, and one is not looking for a financial investment, then obviously one can just go and buy anything that is appealing.

(Published in Financial Times)

8 Sept 2009

Four of a kind

(By Nalini S Malaviya)
At the recently held art summit several works of art competed with one another to catch the visitor’s eye. Anish Kapoor’s installations were of course the biggest draw at the fair. Then, names such as Ravinder Reddy whose iconic Head in a brilliant red and Subodh Gupta, whose large scale installation made out of utensils created an impact right at the entrance. While, Nataraj Sharma’s humongous installation made out of metallic wire and tiny airplanes and Manjunath Kamath’s digital montage were outstanding. Apart from these well known names there were several others that were truly brilliant and that stood out either because of the thought process behind them, or they were just so spectacular that they could not be ignored. Although there were many that grabbed my attention, I have listed four of these below.
Lirio Salvador
Sandata ni Lila by Lirio Salvador
A sculptural assemblage by an artist from Philippines is essentially a guitar made out of scrap that stood against the wall at The Drawing Room, a contemporary art gallery based in Philippines. The stringed instrument was made out of gears, mixing bowls, utensils and door handles, and the interesting part of this assemblage was that visitors were encouraged to pluck at the strings. The musical instrument was a creative fusion of art and music.

Suchitra Gahlot
One Thousand Tears by Suchitra Gahlot
This installation comprised of a thousand 10 ml bottles containing artificial tears and a typewriter. Based on the replies that one thousand people gave to the question “Why did you cry last?” the vials were labeled. This installation caught my attention with its simplicity and poignancy.

El Anatsui
Black River by El Anatsui
A massive installation on the wall spanning approximately 8 feet by 12 feet made out of aluminum bottle caps and copper wire was displayed at the Sakshi Gallery. This stunning piece of work could not be ignored by any stretch of imagination.

Princess Pea
Supercalifragilisticexpialidocious by Princess Pea
At the Rob Dean Art – a U.K. based gallery one encountered a fun and quirky series of photographs and installations that used a cartoon character to create the artworks. The stall was buzzing with activity with the artist wearing a ‘cartoon head’ while posing with the visitors, and offering everyone cupcakes. Although, the theme of the project was based on the angst that the artist faced in her growing up years as she was very thin, and was always reminded that her head was too big for her body. However, the treatment was fun and made literal use of cartoon figures. This one caught ones attention with its sense of humor, and the novelty of execution.

(Published in Bangalore Mirror)

28 Jul 2009

Investing in art

(By Nalini S Malaviya)

A couple of years ago when people had Rs.2-5 lakhs as disposable income they were more than happy to invest in art. It was not uncommon to find people walking into galleries and soliciting their help in buying art. Most of these people had limited knowledge about art and relied completely on external sources to make a judgment. However, when the recession happened, it caused a lot of heartburn and many of these investors, who were looking at short term gains found themselves in a quandary. Unable to sell the work at even the cost price, they lost confidence in art as an investment instrument, and also blamed their advisors for the situation they found themselves in.

Now that the market appears to be looking up, a similar situation could surface again, but, hopefully buyers who have burnt their fingers are likely to be extremely cautious now. It is important, as in every financial investment situation, that the investor be in a position to make an informed decision. The buyer should be more proactive, collect all vital information and use good judgment to come to a decision regarding art. Especially, when one spends so much money on art, it does not make sense to rely on any one gallery, dealer or consultant to take a decision for them.

In fact, it is ridiculous to compare investing in art directly with investing in stocks and shares. Although, there may be certain broad similarities, but as financial products they are extremely different and involve different dynamics.

One can remember that as an investor in art one should
- Do ones own research
- Think long term
- Be aware of the shortcomings and pitfalls of investing in art
- Use only spare liquidity in art
- Invest in art only after investing in conventional asset classes

(Published in Financial Times)

15 Jul 2009

A photography show - Bangalore

(By Nalini S Malaviya)


A few days ago a photography show In Focus previewed at Hatworks Boulevard where six photographers presented their recent works. Photography as a fine art form is still in its nascent stages in the country, and, as this exhibition was organized by a mainstream art gallery, it sounded promising enough to tempt one to venture forth in the evening traffic. And, it turned out to be a very interesting show with excellent images on view.

Gigi Scaria
Most of these photographers have a fine arts background, and with an exception of a couple of them, they have exhibited their works widely. The visuals that they have presented capture delicate nuances derived from and related to urban living. Their inspiration ranges from crystalline reflections in still waters, the rapidly evolving skyline, graffiti on walls, and other urban phenomenon – concrete and emotional. For instance, Gigi Scaria first creates his own sculpture / installation which he then transports to the chosen site before photographing it. And, his sculptures are in fact elaborately detailed artworks that are crafted with meticulous precision. On the other hand, Atul Bhalla, a multifaceted artist, continues his penchant with water, where delicate reflections in the depths of water evoke a sense of beauty and contemplation that is almost surreal.

Atul Bhalla

Preeti Sood, who is a trained printmaker based in the UK has photographed walls with peeled plasters and posters. The images not only capture visual textures but combined with graffiti and torn lettering / pictures give an entirely new identity to the images. Rachel Immanuel is a graphic artist, and this is the second time she is exhibiting in Bangalore. Her intense black and white images are an exploration of the complexities and conflicts arising out of urban dichotomies.

Vivek Vilasini

Bangalore based Vivek Vilasini focuses on the absurd in the most unusual of circumstances. In a dump yard outside London he finds a stone statue of Buddha and a replica of the Statue of Liberty along with heavy artillery. The incongruity of the combination or co-existence of the varied objects cannot escape the viewer. While, Shankar Natarajan presents the fragility of relationships - the alignment of the profiles of the protagonists poses and answers questions that are loaded with a sense of expectancy. Overall, the exhibition is definitely worth a visit.



(The exhibition continues till July 25 at Crimson Art Resource, Bangalore)


(Published in Bangalore Mirror)

2 Jul 2009

Faking It

(By Nalini S Malaviya)

Last week, I was asked to look at a book, Faking It, which is an art crime novel, written by Amrita Chowdhury. Currently, Amrita is working as the Associate Director of the India Research Center division of Harvard Business School and this is her first foray into fiction. Passionate about contemporary Indian art, Amrita has set her fast paced novel in the art corridors of Mumbai. According to Amrita, she herself is an avid art collector, and as Indian art is doing so well across the world, this was a good time to set her fictional story around the Indian art scene.
The novel is about a finance expert, Tara Malhotra, who, against her wishes, is uprooted from the United States to Mumbai. Struggling to find her footing in Mumbai, indulging in extensive party hopping and high-end shopping, she ultimately decides to set up her own art gallery. But, for that to happen she needs to have that perfect piece of art in her personal collection to impress her social peers. So, when an opportunity presents to buy a newly found work by Amrita Sher-Gil she succumbs hook, line and sinker, spending all her savings in the process. And, as luck would have it, the painting turns out to be a fake. The second part of the novel is a chase around town (car chases to the airport included!) to nab the forgers, and eventually, to trap the kingpin behind this multi-million dollar racket.

The book turns out to be quite informative about the business side of Indian art and is full of little details on how the market functions, but I’m not sure how an art-unfriendly reader will respond to it. The vacuous life of a socialite as she flits from one party to another and buys every designer label in sight, paints a pathetic picture of a returned-from-abroad Indian who tries to compensate for the sense of isolation and displacement. While, the second part of the book portrays how the protagonist evolves and comes into her own.



It would not be fair to compare this book with Dan Brown’s Da Vinci Code or even Jeffrey Archer’s False Impression – both of which have art as the basic premise. Nevertheless, Faking It is a perfectly enjoyable read that focuses completely around Indian art. A breezy, easy going style of narration manages to keep the reader sufficiently interested to keep turning the pages to the very end.



After reading the book, it is very likely that you may want to take a look at some of the works by Amrita Sher-Gil or by one of the numerous artists mentioned in the book (from the Bengal school or the Progressive art group), in which case you could take a walk through NGMA, Bangalore and you are sure to find most of these artists there.

(Published in Bangalore Mirror)

16 Jun 2009

Is the art market on a recovery path?


(By Nalini S Malaviya)

There are faint indications that interest in art is once again on the rise. With the stock market improving in the last few weeks, there is a perceptible change in the financial situation and buyers are now showing a renewed interest in art. As financial markets are invariably interlinked, it is not surprising that once again attention is shifting to art. Although, the change is marginal, yet it is a good sign compared to the past several months where conditions had worsened to the extent that footfalls and sales in galleries were close to negligible. Most auctions that took place in this interim phase too performed poorly.

At least now, there are enquiries about interesting shows and specific artists. Although, this is still very early to predict if the market is on the revival path, there is a strong possibility that things could improve. It is still early days and how much of this interest translates into financial tractions one will have to wait and watch.

It also appears that this time, buyers are likely to be more cautious in investing heavily in art. In the recent past, there were several instances where investors found it difficult to off load their artworks at the prices at which they had bought. Readers will remember that in the last couple of years, art prices were at an all time high and it was not easy for investors to exit during the recession that followed soon after. Investors who had held onto their works are in fact in a better shape, as with the improvement in the financial markets, art prices too will rise.

Investors who have gone through this ‘boom and bust’ period will now tread cautiously. According to most analysts, it is unlikely that art prices will witness a similar short term surge in the near future, but as a long investment art should still be a fairly safe option.


(Published in Financial Times on Jun 14, 2009)

Is the art market on a recovery path?

(By Nalini S Malaviya)

There are faint indications that interest in art is once again on the rise. With the stock market improving in the last few weeks, there is a perceptible change in the financial situation and buyers are now showing a renewed interest in art. As financial markets are invariably interlinked, it is not surprising that once again attention is shifting to art. Although, the change is marginal, yet it is a good sign compared to the past several months where conditions had worsened to the extent that footfalls and sales in galleries were close to negligible. Most auctions that took place in this interim phase too performed poorly.

At least now, there are enquiries about interesting shows and specific artists. Although, this is still very early to predict if the market is on the revival path, there is a strong possibility that things could improve. It is still early days and how much of this interest translates into financial tractions one will have to wait and watch.

It also appears that this time, buyers are likely to be more cautious in investing heavily in art. In the recent past, there were several instances where investors found it difficult to off load their artworks at the prices at which they had bought. Readers will remember that in the last couple of years, art prices were at an all time high and it was not easy for investors to exit during the recession that followed soon after. Investors who had held onto their works are in fact in a better shape, as with the improvement in the financial markets, art prices too will rise.

Investors who have gone through this ‘boom and bust’ period will now tread cautiously. According to most analysts, it is unlikely that art prices will witness a similar short term surge in the near future, but as a long investment art should still be a fairly safe option.

(Published in Financial Times on Jun 14, 2009)

2 Jun 2009

Is the recession affecting art?

(By Nalini S Malaviya)


Now that the recession has become a hard reality and has hit the art market also significantly, one wonders if this will change the way we look at art. One reads of efforts where cadavers stripped of skin and coated with resin to preserve them are displayed as art, or when butterflies pinned on a canvas and dead animals preserved in formaldehyde solution are presented as art or when an unmade dirty bed is paraded as a work of art, one wonders what next? And, in fact, some very bizarre and sensational artworks have sold for millions of dollars at auctions. Art that generates controversy has become a surefire way to make a name.

What is amazing is that people have come up with these ideas and have managed to market it so well that they have persuaded others that it is art. And, what is more surprising is that people have not only been convinced about its credibility as a form of art, but have also spent good money on it. The fact remains that till just a few months ago practically anything and everything could be paraded as art and it would succeed in finding a gullible buyer.

Well, art happens to be one area where hype seems to play a major role. It is noticed that most people are drawn to the name of the artist rather than the artwork itself. It appears that the trend seems to be reversing, one finds that there are hardly any takers for artists such as Damien Hirst now. Prior to the recession the contemporary art market seemed to have gone completely haywire. Speculation, manipulation and hype were some of the causes that inflated the market substantially. At the moment, whether it is good judgment that is affecting the sale of such works, or whether it is a genuine lack of funds that is affecting the market - to know that one will have to wait and watch.

One hopes that in the current phase as most artists and buyers have become quality conscious there will be a change in trend for the better. However, as long as there are vested interests and a hyperactive media, hype will never go away, but surely with time buyers will become more evolved and will be able to separate art from the chaff.

12 May 2009

Straying Off Course

(By Nalini S Malaviya)

Of late, there have been several queries regarding courses in art appreciation and workshops on painting and sculpture. It just goes to show how the awareness and interest in art has grown in proportion to the art market. There is an ever widening audience that wants to know more about various aspects of art, but, unfortunately, avenues to fulfill these remain rather limited. Most art colleges offer a fixed set of conventional courses which cover full time programmes in various branches of fine arts such as painting, applied arts, sculpture and art history amongst others. However, with the growth in the art mart, there has been a spurt in demand for affiliated services such as art advisory services. Also, there is a need for courses that address the business aspect of the market. Art writing, curation, investment, valuations, appraisals are some of the key areas that need to be addressed through specifically designed programmes for art professionals. Of these, to the best of my knowledge, there are very few courses that are offered either as a degree diploma, or a certificate course in any of the fine art institutes in the country. There is no shortage of fine art colleges (comparatively speaking) in the country, but these are geared towards conventional disciplines rather than towards professional courses that support ancillary services relating to the business of art. What this means then is that the art market is buzzing with professionals lacking in necessary qualifications and this further adds to the chaos that characterizes the Indian art market.

A look at an international auction house’s official website reveals short term courses in Art Law, Ethics and the Art market, Art Valuation, and a number of other equally relevant courses, while semester programmes in Art and Business, and masters in various aspects of contemporary art are offered. It appears that the business of art is taken extremely seriously and efforts are made to plug the gaps that may occur due to lack of knowledge. As an auction house it makes a lot of business sense as well to address these topics. In India we are lacking behind sorely in imparting professional education in most fields and the same is happening in fine arts too. On the other hand, the business segment in art has grown exponentially, while the number of professionals who can authenticate art, provide valuation or information on copyrights and other legal issues are negligible. One can only hope that such programmes tackling the business side of the art market are initiated in the near future, as this will establish greater credibility and confidence in the market.

11 May 2009

Valuation of art

(By Nalini S Malaviya)

Every art collector, at some point or the other, likes to know the financial worth of his art collection. The monetary valuation of an artwork comes in useful not only in estimating the monetary worth of a collection, but also when art needs to be sold. Again, it forms a crucial element for the purpose of insurance and wherever property assessments have to be done or when estate issues are involved. In such cases it is important to get a fair estimate from an independent source.

Today, when prices have corrected drastically, many people who are attempting to sell their artworks privately have to resort to some kind of a valuation which gives an idea about its current market price. Having a reasonable base price as reference helps the seller in making a prudent decision regarding the sale of the artwork. A valuation may also be necessary when an heir is in doubt about the value of an inherited artwork. Many corporate collections and private individuals as well opt for a valuation of their art collection as it gives an estimate regarding the total financial worth of the collector.

The process of valuation should be done by experts in the field as it is a fairly complex procedure, involving several factors such as, comparison of data of various price points, significance or rarity of the work, condition of the artwork and current market estimates. Incidentally, most auction houses provide this service.

Generally, in case of private sales most people tend to approach either galleries or independent consultants for a fair market evaluation. The important factor here is that one should obtain the services of an expert who is unbiased and has no stake in the financial worth of the artwork.

The Indian art market has grown phenomenally in the last few years and although there is a slowdown at the moment, valuation of art is one field that is bound to see a lot of demand and growth in the near future.

(Published in Financial Times)

6 May 2009

Some tips for buying art

(By Nalini S Malaviya)


It may sound a little surprising but there are still a number of people who are buying art, although not many are flaunting the fact. If you are one of those considering buying art, I have put together a few points here which should help you go through the process.

Investing in art has always been a fairly controversial subject where purists believe that art should be bought only if one has the passion for it, while, investors with a high risk appetite have looked at art as just another investment instrument. Therefore, it is important that you identify your reasons for buying art. In any case, if you are spending a large sum of money on art use only any spare cash that you have.

If you are planning to spend less than Rs.50,000/- this is comparatively a small amount when you consider that prices of artworks can go up to lakhs and even crores. In such a case you can look at art which is aesthetic and one that appeals to you visually. If you are spending bigger amounts it is important to evaluate and analyze the financial investment potential of the artist. Also, instead of spending a large sum at a time you can distribute it within a certain timeframe. Incidentally, you should not consider spending more than 10-15% of your disposable income on art.

Buying art can be a fairly addictive process as many collectors have found out. There is always a better and more exciting work of art round the corner. Therefore, it is important to define ones budget and stick to it.

Make sure you buy from reputed galleries and dealers who have established their credentials over time. It is always better to pick an artist who is represented by a well established gallery, which ensures that the artist is promoted appropriately. In case you are buying from a resale be extra cautious about the authenticity, provenance and the condition of the work.

When you do a background check on the artist, also see how his prices have evolved over the years. A stable rise over time is a good indication that prices may follow a similar pattern in future. However, do not go entirely by the artist’s name, but also check for quality. There will be variations in every artist’s work and remember that someone who is very prolific is less likely to focus on quality.

At the end of the day buying art is a matter of personal choice, and you should be able to make the final decision after collating all relevant data.

(Published in Bangalore Mirror)

28 Apr 2009

Art of the matter

Some time ago, at an art event, a viewer whispered audibly that she could not make out what was so artistic about the painting. This in fact happens quite often. Sometimes, when looking at art exhibited in gallery spaces, one wonders whether everything that is presented as a form of art is really art. Thanks to the popularity wave, art has become a commercially viable venture for many. As a result, along with professional artists, self taught and hobby painters, photographers and architects, there are numerous others, from varied professions, whose experimental endeavors get an opportunity to be showcased at art exhibitions. Out of these, while some are brilliant and it is obvious that they have found their true calling in life, there are others that appear confused or mediocre to the extent that it is impossible to make out what the artist intends to convey. And, then there are some that are downright silly, to put it mildly. However, as most exhibitions these days are accompanied by enough hype to impress the general viewer, it can become difficult to look at them objectively. One can only wonder what the fuss is all about.

In fact, very often the intention behind such projects is genuine even if the resultant product fails to reflect that. There are some that lack in technique or craft or creativity or all of these. Sometimes, and fortunately not so often, one feels that the works should never have been allowed to be publicly displayed in the first place.

Artists that are sponsored and promoted by art galleries have at least been through a selection procedure. The bigger and well established galleries are in fact extremely particular who they promote and associate with. It is therefore self sponsored art shows that are suspect, because anyone can easily rent a gallery space and put up an exhibition of their works. This does not mean that every self-taught artist or an occasional painter is lacking in his craft. There are many senior and renowned artists such as MF Husain, Arpana Caur and Sudhir Patwardhan who are self-taught.

Still, it is important for buyers to be able to confidently evaluate the quality of a work and then invest in it. At the same time, it is equally imperative that artists, especially new ones, obtain critical feedback on their works before displaying them in a public space.

(Published in Bangalore Mirror)

8 Apr 2009

Where is the trust vote?

(By Nalini S Malaviya)


During the boom period art was projected as the next biggest investment class and many private individuals and dealers were quick to encash on this popularity wave. During that phase buyers were promised returns anywhere between 100% and 1000%, backed by data that was carefully weaned to suit the purpose. “Investment Art” emerged as a convenient bait to lure buyers to the maximum. The phrase was meant to identify a class of art that was sure to maximize investment. The situation today has altered drastically. One wonders where these promoters are now. What has happened to these so called Investment Art or Artists? The ground reality has always been different from the hype prevailing in the media.

Today, the market is abuzz with investors trying to offload their art. Unsuccessfully. In desperation many are willing to settle for whatever little is offered. This has resulted in the investors being a disillusioned lot. Many people had also invested in art funds, some of which have failed to provide the returns that were promised at the launch of the funds. At least those who have invested in art directly can take solace in the fact that they can see their art on the wall.

A number of people have lost faith in art as an investment. However, one cannot blame unscrupulous promoters and dealers only; some amount of responsibility has to be borne by the investor as well. After all, when one invests a substantial sum of money, say in real estate, one checks the credentials of the builder or developer, looks for clear titles and so on. The same is true for art. How can one invest without doing any background research? It is always essential to have an independent and unbiased opinion in such cases.

In any fast growing field, there will always be many speculators and people who will manipulate the market to suit their own purpose. At one time, many artists too, were churning out works by the dozen when there was a huge demand.

Today, demand is low, prices have fallen, and everyone has the time to introspect. During the last phase, gullible investors who believed they could treat art as stock or shares, and could exit at any point they wished are the ones that have suffered the most. It is only now that many have realized how difficult it is to resell art, especially now when liquidity is hard to find. At the risk of repeating myself, I have to say that this is a particularly bad time to sell, but a good time to buy, if you can afford to.

The market will take a while to recover, and hopefully there will be better regulation soon. And meanwhile, remember the old adage, it maybe clichéd, but still holds true – buy art that you can live with.

(Published in Bangalore Mirror)

26 Mar 2009

Elephant on the wall

(By Nalini S Malaviya)

As one turns towards Opus from the BDA circle, an elephant dressed in pink and blue sneakers grins cheekily, striking an incongruent note amidst the traffic snarl. This rendition on the wall is the work of graffiti artist Ivan Germon. Ivan, from France has been spray painting on public walls for the last sixteen years. As a teenager, with a spray can in hand, he began leaving his signature on walls at night. At one point after his arrest and subsequent trial, the situation altered considerably and he was invited to paint on designated walls in France. Ivan also does paintings – acrylic on canvas and illustrations when he is not doing graffiti.

Ivon with his graffiti
Image coutesy Opus

Ivan has modified his modus operandi and now, very often, he paints on large rolls of paper and then sticks them on the wall. Most of his paintings are of cartoon or popular characters, keeping in mind the cultural milieu of the place. For instance, he has spray painted Chacha Choudhary and Shaktiman in India. For the wall on Opus, for which he was incidentally invited to paint upon, he chose a brightly dressed up elephant which was bound to attract a lot of attention, and the slogan he has used is derived from Horn OK Please, seen so commonly on the back of trucks. He feels that these are elements that the common man can identify with and relate to easily. He signs off as Rock, and has taken the trouble to sign in Kannada as well.


According to Ivan, nobody would notice an ugly wall on the street, but, a brightly coloured one will definitely catch the eye. In big cities, where ones existence can go unnoticed, a signature or some writing on the wall is a way to get attention, and that is what most graffiti artists are doing when they paint on a wall in the darkness of the night.


Incidentally, what is graffiti? Letters or images that have been marked, scratched or painted upon any property are termed as graffiti. In most countries defacing public walls is considered vandalism of property and is an illegal activity. However, in the recent past, graffiti as an art form has emerged slowly, although it continues to be a topic of debate.

12 Mar 2009

Critical acclaim or popular choice

(By Nalini S Malaviya)

Recently, a young artist, while showing me images of his recent works said that everyone liked his paintings but nobody ever buys them! This may sound strange, but it does happen. When it comes to appreciating art and buying it to put it up on our walls we behave as if we have a split personality. What may appeal to us from a critical perspective may not suit our walls at all. Why? How many of us are willing to display art that graphically portrays themes such as war or poverty, or one that has a social message? And, in case it is a realistic portrayal of violence or the downtrodden, or, for that matter nudes, how comfortable would we feel in hanging it up on our living room walls! Is it hypocrisy? Not really. Our homes are our sanctuary, a haven that shields us from the harsh realities around us. It is not surprising then that in this personal space we yearn for all things beautiful, including art.

Photograph by Raghu Rai
To give an illustration, you may have seen Raghu Rai’s photographs taken in the aftermath of the Bhopal gas tragedy. The disturbing sight of mutilated foetuses and other equally graphic images, once seen can never be forgotten. These photographs have received widespread critical acclaim and have served a valuable purpose in drawing the world’s attention to a calamity that should have never happened in the first place. But as art in the drawing room, it is an unlikely choice.

Art that borders on the non-aesthetic and brings with it associations that are painful or unpleasant may become a part of a connoisseur’s prized collection but will have trouble finding acceptance from the average viewer. Conventional themes such as nature or pleasantly coloured abstracts are popular with buyers. A viewer, when looking at them, feels happy and contented. There is no sense of alarm, discomfort, revulsion or sadness when one looks at them. Most people believe in having a positive atmosphere around them, and this is often reiterated through art as well. Therefore all said and done, our sensibilities our still old fashioned when it comes to buying art for our homes. Fortunately, there are artists who believe in creating art that stems from their beliefs and is thought provoking, and there are connoisseurs who appreciate them. If it weren’t for them art would mean just a pretty painting and Indian art would be nowhere on the international map.

(Published in Bangalore Mirror)

3 Mar 2009

A visit to NGMA, Bangalore

(By Nalini S Malaviya)

The National Gallery of Modern Art (NGMA) is nestled in a green alcove off the main road away from the clamor of the traffic. Readers will remember that NGMA opened in Bangalore recently amidst controversies that invoked the ire of local artists and other members of the art community.
At the moment NGMA houses approximately 500 exhibits that are spread across a corridor, tiny rooms and large spacious halls that span two floors. You need at least half a day to see the entire space. The exhibits have been displayed - classified into broad categories - according to different time periods, art schools and by artists. One can see paintings by Raja Ravi Verma, Jamini Roy, Amrita Sher-Gil, the Tagore brothers and Rabindranath Tagore and a large number of Modern and Contemporary artists. While, there has been some effort made to display the older works in various zones, the Modern and Contemporary art section appears a little scattered and it could be organized better.

As one enters the gallery door, one can see old photographs, miniature art from the Rajput and Pahari schools depicting court scenes, and there are several graphic prints as well. A portrait sketch of Rajiv Gandhi done by Mukul Dey in 1945 is on display. Oil paintings by European artists who travelled to India during the late 18th to mid-19th century have also been showcased here. Ghats of Benaras, dancing girls and fauna and flora that represented exotic India form popular themes.

Raja Ravi Verma’s Lady in Moonlight NGMA Bangalore
Ravi Verma’s Lady in Moonlight and Portrait of a Lady are two of his works that find a place here. In one of the large halls one comes across a small section dedicated to photographs (mostly black and white) by renowned photographers Raghu Rai and Dayanita Singh – the Masterjee series. Amongst the other works, one comes across a pair of terracotta pigs by N Pushpamala, small watercolour works by N S Harsha, a striking landscape by K K Hebbar, works by S G Vasudev, Yusuf Arakkal and Ravikumar Kashi.

M F Hussain’s paintings inspired by Mother Teresa, landscapes in muted shades by Ram Kumar and an intensely dark work by S H Raza, colourful abstracts by V S Gaitonde stand out due to familiar names. Ritual Image, a complex piece by Nandagopal and Form, a minimal bronze piece by Sankho Choudhuri present interesting dimensions in sculptures. Jamini Roy’s stylized forms and Amrita Sher-Gill’s paintings form a fairly large collection. The museum is a good place to get familiar with art and artists.
Painting by Amrita Sher-Gill
According to the official website of NGMA it also conducts educational and cultural activities; I hope that in Bangalore, too, it will take on such a role soon. Having started off on a wrong foot, it desperately needs to re-invent its image. It is imperative that NGMA garners local support and involves active participation from the various members of the art community in the city.

(Published in Bangalore Mirror)

20 Feb 2009

Not the best time to sell art

(By Nalini S Malaviya)


During a financial crunch, people like to have the option of selling part of their assets to obtain liquidity. In the recent past art had been promoted aggressively as an alternative asset class and many buyers invested large portions of money in it in the hope of receiving good returns. However, most people who had invested in art without sufficient knowledge of the art market dynamics are now struggling to resell their works. Although, many galleries began offering buy back guarantees on the works they sold, this often came with clauses regarding timeframe, returns and valid for only select artists. Now that investors are facing major problems in reselling art, most of them are disappointed and disillusioned with art an investment option. It is important to realize that investing in art is an altogether different ball game compared to investing in traditional assets such as stocks, real estate and gold.

At this point in time, there are a large number of people looking to exit but unfortunately given the financial constraints permeating all sectors of the market, it is a difficult option. Many of these investors had bought art hoping for quick and high returns, and while this did happen during the boom period it is an extremely unlikely scenario at the moment.
Still, if an investor needs to exit now, he could either sell directly to a private buyer or through a gallery or a dealer. Rare or high quality works can also be sold through an auction house and one may want to consider that also as an option. As art prices have dropped recently if one is selling now, one should be realistic about the selling price. As we have mentioned in the past also, ideally this is not a good time to exit unless one is forced to. If possible hold on to the work for at least another two to three years.

(Published in Financial Times)

12 Feb 2009

On a positive note

(By Nalini S Malaviya)


The art market is hit hard and there is no getting away from it at the moment. But, all this talk about the recession can be quite depressing and I sincerely hope that this phase gets over as soon as possible.
While people are still buying art that is affordable, sales of mid and high end segments are highly affected. Buyers are now treading cautiously, and rightly so. Recently at the preview of an art exhibition one of the artists mentioned how thankful he was that he had not resigned from his day job. However, when the same artist said that he had slowed down the pace of his work as the demand was considerably less, it was reassuring. In my opinion some of the best works will emerge in the current phase. The furious frenzy to produce more works during the boom period will now be replaced by a more spaced output. Artists will have more breathing space and time to follow their creative instincts rather than follow popular demands. This is a good time for them to be experimental, dabble with different media, and come out with smaller works and maybe even an affordable line of works.

Collectors should take stock of their collections and think of getting it catalogued if it is sufficiently large and mark out the works which they would like to sell off. One should also consider insuring the more expensive or rare artworks. Unfortunately, insurance of art is still not a very popular trend in India, and very few companies are offering this. But, one could look around to find a policy that suits ones needs.
For buyers this is a good time to pick up quality works at competitive prices. Those who don’t know much about art but happen to be reading this could use the opportunity to get familiar with the art world. Those of you, who are looking at buying art at this point, should begin with a small budget. This is also a good time to network with people from the art fraternity and to attend art shows and other events. In short be positive and use the time constructively.

(Published in Bangalore Mirror)

19 Jan 2009

Sell art only if you have to

(By Nalini S Malaviya)


As everyone knows this is not a good time to sell art, as prices for paintings and other art forms have fallen significantly. Therefore, if one were to sell now, one would not get the same price as what could have been achieved a few months ago. According to some reports art prices have corrected as much as 30%. However, need for liquidity may encourage investors to sell a few select pieces. In such a scenario, it is important that the seller be realistic about his expectations. Still, if an investor had purchased a work of art 5 or 10 years ago, selling it now will fetch good returns on it.

A seller should do a thorough research and crosscheck current rates from various sources to arrive at an optimum selling price. There have also been instances where artists have shown an interest in buying back their works. This usually happens when the work is representative of a certain phase of the artist, or if it adds value to an artist’s retrospective exhibition. In any case it worth investigating if the artist or his family is keen on regaining the work.
When planning to sell a work, one should also be prepared to wait as it could take some time before the transaction actually happens. Under normal circumstances, too, it is difficult to liquidate art in a hurry. Sellers could check around with galleries, dealers or private collectors who can either buy the work themselves or alternately source a buyer. As buyers are also on the look out for good deals, one may have to be open to negotiation.

It is easier to sell rare and good quality works, especially if they are offered at an attractive price. One should also ensure that all relevant documents – provenance, authenticity certificate and receipts if any – are in order. Before putting up an art piece for sale, remember to check the condition of the work, that it is not damaged or affected in any other way.

(Published in Financial Times)