Visual appeal may not make good investment

(By Nalini S Malaviya)

An ‘investment artist’ is a popular phrase coined by art dealers and galleries to attract prospective clients to invest in art. What new buyers and investors need to understand is that not all art will turn out to be a financial investment. Decorative art rarely qualifies as a sound investment, at least monetarily. However, this class of art – paintings and sculptures attracts maximum buyers thanks to its visual appeal.

Another category of art that is becoming popular with both corporate houses and individuals is ‘customised art’. Paintings are coordinated extensively with interiors – furnishings, wall colours, accent pieces, patterns etc. In house artists are briefed on the kind of art that needs to be produced and these are affordably priced anywhere between Rs 5,000 to a lakh, or so. Generally, there are no artist signatures on the canvas as these are promoted under the seller’s brand. Obviously, art of this form is not a financial investment and most sellers, in fact make no pretensions about it. Buyers too are fully aware that they are paying for customised wall art that matches perfectly with their décor scheme.

However, when decorative art is projected as an investment option most people end up buying it in the hope that prices will appreciate over time. In general, prices of artworks do go up with time (not to forget inflation!) and most artists are bound to raise their sale tags periodically. But, the difference between a painting that one buys for investment and another for décor lies in the percentage of appreciation in the same amount of time. An artist, who is performing well internationally, will see a bigger hike in his price than one who sells locally through neighbouring galleries. The latter generally paints a similar kind of work due to popular demand, and exhibits a tremendously limited repertoire. Having said that, there is no harm in buying art that appeals to ones senses, as long as one is clear about its investment potential – financial or visual.

(Published in Financial Times)

Art Buzz (London) Bose Krishnamachari: GHOST

Ghost/Transmemoir, 2008, used tiffins with LCD monitors, amplifiers, DVD players, headphones, cables, jute rope, scaffoldings and wood

Bose Krishnamachari: GHOST

artist will be in attendence
Opening Reception 10 July 2008
private view

Wednesday 9 July 6.30 - 9.00 pm

Bangalore : Art shows galore

(Nalini S Malaviya)
The art scene in the city has picked up considerably over the last couple of weeks. The last few days went by in a whirl of activity for many of us, visiting a variety of exhibitions – photographs, paintings, installations and mixed media.
Two exhibitions that have ended but are worth mentioning are - the wild life photography show by M N Jayakumar that has been extensively covered and written about, and it was truly quite spectacular. There were some wonderful snapshots from the wild. Then ‘Silent Symphony’ featured pen and ink drawings by artist Babu Jattakar who incidentally is a faculty at the Applied Art Department, Chitrakala Parishath. The black and white landscapes were presented in a conventional style. They were excellent - pleasant compositions and affordably priced.


Another show, ‘Artists without Boundaries’, features a group of women artists from across the country. With names like Arpana Caur, Rekha Rao, Asma Menon, Gogi Saroj Pal, and Naina Kanodia among others, it seemed promising. But the collection could have involved a larger body of works, which would have offered greater insights into each artist’s oeuvre.
Rekha’s painting was a little different from her earlier series as it added a figurative element – a film poster - to her abstracted backdrop. Portraying the social issue of untouchability, Rekha has drawn from the legendary film actress Nutan’s defining film ‘Sujata’, also based on the same theme. Naina Kanodia’s works are delightful, with their photograph-like visuals. The figures always appear to be suspended in time, surrounded by their abundant worldly belongings. Arpana Caur presented Guru Nanak in her signature style, while Gogi Saroj Pal’s works have been painted with greater abandon than usual.
The exhibition is on at Renaissance Gallery for another week.
Meanwhile, Kaleidoscope 2008 kicks off today, featuring assorted works by various artists. It is on at Kynkyny art gallery till July 19.

And, finally I want to say I am delighted and touched that last week’s column has enthused at least a few photographers who are now keen on exhibiting their fine art photographs. I look forward to that.

(Published in Bangalore Mirror)

It's a good time to buy art

As the stock market continues its downward trend, there are a number of investors turning to art as an alternate investment option. In the past, we have discussed how domestic art is rapidly emerging as an asset class. Analysts confirm that despite last year's fall in the art index, this year it has been recording spectacular returns at both international and domestic auctions.

According to the latest ArtTactic Indian art market survey, the domestic and global economic situation is having an impact on the overall sentiments in the domestic art market. Despite this, both the Modern and Indian Art Market Confidence Indicators have reached new heights, showing the continued optimism in the market. Among the domestic contemporary artists T V Santosh, N S Harsha, Bharti Kher and Subodh Gupta take up the top positions.

At the recently concluded Saffronart's summer online auction 70 percent of the total lots were sold of which 66 percent were sold above their higher estimate. The sale grossed (inclusive of buyer's premium) USD 97.21 lakhs or Rs 38.88 crores. Subodh Gupta, S H Raza, Rashid Rana, and F N Souza continued their brilliant performances at this auction as well. At the upcoming Sotheby's Contemporary art auction this week, domestic artists such as Subodh Gupta, Bharti Kher, T V Santosh, and Anish Kapoor, and a few others will also be featured. This incidentally is not an exclusive domestic art sale but features international artists and involves names such as Damien Hirst, Andy Warhol and Francis Bacon along with a host of other established artists. The sale is offering eight works by the Indian contingent. These works are estimated to be around £2 million. In fact, Anish Kapoor's untitled sculpture alone is estimated at £1-1 .5 million. This is an interesting phase for domestic art and the results from this auction will clearly indicate how domestic artists fare in a mainstream international auction.

However, it does appear that domestic art has found widespread acceptance at a global level and investing in art might be a smart decision.

(Published in Financial Times)

Fine Art Photography

There's reason for cheer as fine art photography emerges as the next big thing

(Nalini S Malaviya)

I met a couple of local photographers, recently, as part of a search for good photographers for an online portal. One of them, Vivek Mathew is an extremely talented youngster who has had successful shows in the city. His photographs of landscapes, objects, buildings and the monsoon (reflections in puddles and so on) were simply amazing. This, in fact is a good time to be a photographer. After the art boom, fine art photography is poised to be the next big thing in the country. Although the market is still nascent at the moment, the number of exhibitions of photographs and prints has gone up exponentially in the recent past. Mumbai and Delhi markets are comparatively a lot more mature compared to Bangalore. But, here too there are a number of exhibitions of fine art photography taking place. Varied themes such as wildlife, architecture, interiors, landscapes and people are captured through the lens and are creating waves in the art circles.


There are now dedicated galleries and portals to showcase fine art photography, which just goes to prove how the market is evolving. Many art galleries too have begun showcasing photographic prints either as an exclusive show or as part of a multi-media exhibit. There are many painters and other artists as well who are turning to photography. With their fine art background they bring a different kind of sensibility to this art form.
Worldwide, the market has been doing well for quite some time now. Sotheby’s, Christies and other international auction houses regularly hold auctions of vintage photographs. There is a growing awareness amongst collectors and investors regarding this medium, and while the market for prints might be under developed at the moment, it is one with a lot of potential.

When investing in photographs a few things that one can keep in mind are –
· Professional background of the photographer
· Edition size (less than 15 is a good idea) – the lower the better
· Use of good quality archival paper

Some of the photographers who are considered to be established and are known to be producing good quality works are Raghu Rai, Dayanita Singh, Pablo Barthomolew and Shibu Arakkal. But this list is endless, and there are many foreign photographers too who are exhibiting in India. As an emerging medium, prints are affordable at the moment, available in the price range of Rs 20,000 to a few lakhs.

(Published in Bangalore Mirror)