Art auctions good for investors

With so many art exhibitions taking place it can be very confusing for a buyer to decide on the art, artist and the medium to buy, especially from an investment perspective . The list of artists who are talented and are producing interesting works is endless . It becomes very difficult then to narrow down one's search and zero on to a winner . Given the choice to buy from an artist directly, a gallery or at an auction, the answer would depend on factors such as budget, individual preferences and knowledge of art.
You can buy directly from an artist if that artist is selling from his studio, but this scenario is fast getting outdated . Most good artists are bound by contract from galleries and usually do not sell works privately. When picking up art by students and new artists it is a good idea to buy directly from them. Investors who are knowledgeable about art may also choose to buy directly from the artist, but one must especially look for quality and the condition of the work. In general, the woks displayed at a gallery are of a better quality, as they are often either a part of a curated show or the best from the artist's collection. When buying from a gallery look for one that has an excellent reputation , organises shows of reputed artists and has established credentials in terms of transparency in dealing and good business practises.

Buying at an auction (secondary market) works well for those who are looking at art from a purely investment angle and have the requisite budget. Often one may be able to get top of the line works at an auction. Even if the prices are high (premium , commissions, taxes etc), it is well worth it. The biggest advantage is that the works come with a provenance , authenticity and are usually of good quality. When rare or an artist's best works show up at an auction there might be fierce bidding for it. But, in general, an auction is a great way to consolidate one's collection. And, for those who are looking at making the right investment , it makes sense to buy at an auction.

(Published in Financial Times)

Grants/Aid for deserving art students

The Smart & U Visual Arts Foundation (SNUVAF), a non profit organization, based in Mumbai, India has been set up to identify, research, build, and implement programs to make the Arts a part of many more people's lives. SNUVAF would like to provide grants to deserving art students (who are residents of India) for art education (1st year BFA onwards).

For more details check out:

http://smartnu.blogspot.com/2008/06/smart-u-visual-arts-foundation-aid-for.html

Are these prices real?

Many young artists are hiking their rates to ride the global price tide you see at auctions. But this won’t pay in the long run, says Nalini S Malaviya

A recent report made out a convincing case that Indian art is undervalued at the moment and prices will go up in the future. Is that true? If you ask the uninitiated, the answer will be ‘Indian art is already over-priced and there is no logic or sense in the million dollar deals that take place regularly, particularly at auctions’. Auction prices apart, most people find it hard to digest the prices of art even in the primary market.
Analysts look at prices from a global perspective based on which prices may be low compared to Chinese or Western art, but the fact remains that Indian art’s climb in the recent past has been spectacular. And, there’s no denying that now it has become unaffordable for many.
One of the problems that have come into focus in the recent times is the many artists trying to ride this wave by increasing their prices with every show. While this is valid for some of them, based on their performance at international shows, buyers find it irritating that students and new artists also price their works exorbitantly even in their first or second show. What they need to remember is that if they raise their prices too soon and too much, they will not be taken seriously by an art collector.

On a slightly different note, I expected more reactions to my earlier column (Till death do us art) about the German artist who was planning to use ‘death’ as a stage performance, as part of his art exhibition. Readers did react to it, but mostly on my blog and that too when I had first reported the event with a link to the original story. But strangely enough, my write-up about Badrinarayan’s drawings seemed to have irked a few readers. Now art, of course, happens to be a very subjective matter, where you may like something, which I may not and vice versa. I have also mentioned in the past, how the definition of art is expanding, and it is not always about aesthetics and beauty. But in this particular instance, what one needs to appreciate is the emphasis and efforts at popularising folk art traditions. You probably know that most folk arts such as Madhubani, Pithora, Warli, and Chittara are on the decline. Badrinarayan’s art may not be immensely cerebral but his usage of clean lines in a folk art style while presenting Indian folklore is quite commendable. Incidentally, his art is also popular at the international level.


(Published in Bangalore Mirror)

Art Tactic - Art Market Report June 2008

Rawfacts - June 2008 Issue
The contemporary art market seems to defy gravity, and the May auctions performed generally in line with expectations. One thing is clear, the art market has polarised around the top-end, which largely appeals to recession proof buyers. But what is happening to the art further down the value chain? Anders Petterson takes a closer look at the situation.


Below is a short summary of the June issue:
Indian art market hit by econonomic woes: The overall ArtTactic Indian Art Market Confidence Indicator fell 13% from the last reading in October 2007. However, despite the fall in the overall ArtTactic Indian Art Market Confidence, the confidence in both the Modern, and Contemporary Indian art markets increased significantly, up 17% and 6% respectively.

Source: http://www.arttactic.com/

Visual tales by a master storyteller

This week I would like to talk about my meeting with artist Badri Narayan and his forthcoming exhibition. After living in Mumbai for several years, the artist shifted to Bangalore a couple of years ago and although he has been suffering from ill health he continues to paint. His zest for life and his spirit remains indomitable and in fact the several paintings that graced his walls, have been painted by him in the last couple of years.

Born in 1929 in Secunderabad, Badri Narayan is a self-taught artist and has been painting for about six decades. He has worked with several mediums such as paintings, ceramics, tiles, woodcuts and engravings. He was honoured with the Padma Shri in the year 1987.

A master storyteller, Badri Narayan weaves tales that are inspired by Indian myth and folklore - the Jatakas, Puranas and other stories. But, the interpretation of these is completely unique and centres round everyday life.
From an early age he was interested in literature, folk tales and visual arts and probably that explains a strong influence of these elements in his repertoire. Compassion, wisdom, kindness are just some of the emotional foci that form an integral part of his narrative. The characters in his visuals may belong to another age and period but the events and episodes portrayed are contemporary in narration and relevance. Relationships and other human traits fascinate the artist and are brought out through detailed depictions. As Badri Narayan’s art draws heavily from the folk arts, the images are stylised and may even appear child-like at the first instance. But there is a rich simplicity that evokes an instant emotional connect. In his colourful watercolour paintings too there is a strong use of the pen and ink with motifs that are repeated for an ornamental purpose. He acknowledges the fact and is happy to promote and present Indian cultural and traditional elements through his art. For instance, there is extensive cross-hatching (tiny criss-crossed lines) done in some of his works. Symbols and metaphors are also often used to emphasize the significance. Despite their illustrative quality the paintings and drawings are fluid and eloquent in their narration. In his new series, a number of drawings are inspired by Hamsa - the mythical swan. The drawings are sparse yet compelling as they spin a new tale.

Badri Narayan’s series of pen and ink drawings titled Hamsa, Jataka and Other Drawings will be showcased at Renaissance Gallerie from June 12 to 18.

(Published in Bangalore Mirror)