Art is back

(By Nalini S Malaviya)

If sales at the India Art Summit are anything to go by, one can conclude that art is once again back in demand. And, the good news is that buyers now have the means to pay for it. According to art summit sources, sales worth approximately Rs 25 – 26 crores were made during the 4-day modern and contemporary art fair, held in the capital. More than 40 thousand footfalls were recorded to indicate that these many people visited the fair. These reports indicate a reawakening of interest in art, and is a positive sign for the Indian art market in general.


At the second edition of the Art Summit held earlier this month many buyers were spotted finalizing deals. In comparison to last year, this year’s event managed to gather top galleries from the country, showcased the biggies from the Indian art world, and also managed to convert a lot of interest into sales. An important point to remember is that at the moment art prices are comparatively less than what was seen last year. This, in fact, makes it a good time to buy art.

As galleries from Mumbai, New Delhi, Chennai, Bangalore, Kolkata and a few from abroad, participated in the summit, it meant that there was a wide selection of art on offer. With the cash register ringing, galleries and artists have come away happy. The sales happening after a particularly dull period in recessionary times gives more reason for cheer. And now that experts feel that the economic scene is looking up, it is all the more reason for buyers to turn to art for investment purposes. After all, as in any other investment, it makes sense to buy when the prices are low.

Hopefully, the next edition of the Art Summit will be bigger and better with more focus on emerging artists and increased participation from the well known international art galleries.

(Publsihed in Financial Times)

Art for the Masses

(By Nalini S Malaviya)

As you move from one gallery to another, many a time you come across paintings that look similar and seem to have been produced in bulk. Surprisingly, these are not created by hobby artists, but artists with a proper fine arts background, and qualifications. There is a huge market for this kind of art, and that is probably the biggest reason why many artists tend to cater to this section.

As we all know, galleries play an important role in promoting and showcasing art, and most of them tend to build their own clientele in accordance with the art that they patronize. For artists too, it becomes difficult to find a way into bigger galleries that can promote them in the right circles. And, therefore, many of them get ‘attached’ to galleries, and end up producing the same kind of art, year after year. Most of these artists get trapped in this cycle, and are unable to break out of this mould, mainly in terms of altering the direction of their art. Several times one finds that the artists have the potential to do better work, but due to a lack of forum to present their work, they get stereotyped in their art. Minor variations, here and there might be made; but overall there is no change in content or technique over the years. Most of the buyers for this segment of art are those who are not properly clued into market trends, who tend to patronize one or two galleries, or those that are not looking at art as a serious investment option.

Gallery support is vital in the promotion and the development in the business of art, and unless gallerists themselves are aware of the various aspects related to the finer points of art, they cannot do justice to their artists or their clientele.

(Published in Financial Times)

India Art Summit – an opportunity for networking

(By Nalini S Malaviya)

The second edition of the India Art Summit kicking off two days from now, promises to be a meeting ground for members of the art fraternity. A mix of curated projects, gallery stalls, educational programmes, art films and speaker forums, the summit offers its visitors plenty of opportunity to get initiated into art and into interact with artists and connoisseurs. Art collectors, investors, critics and other members of the art community from across the country are looking forward to the art extravaganza. However, how much of this enthusiasm is affected by the H1N1 flu and the resultant travel advisories remains to be seen.

According to Neha Kirpal from the India Art Summit, "It's the one time of the year that every member of the Indian art community convenes, participates, and benefits from coming together. The exchange and dialogue happens on many levels - while discussing trade in the art fair, debating issues in the speakers' forum, informal chats over coffee, or wine, or an evening out at one of the fifteen collateral events"

This year 54 galleries, including 17 from around the world – from UK, China, Philippines, Germany, UAE and USA are amongst those who are participating. In this edition, the international speaker forum includes topics related to the economic and social implications of globalism and globalization, emerging markets, valuation of art, and conversations between artists and critics. The panel of speakers includes curators, critics, artists, collectors and representatives from museums and galleries from the world over. The Sculpture Park is going to be another major attraction that utilizes an open-air space at the entrance of the fair, where large-scale outdoor sculptures and installations will be showcased. The Purple Wall Project is a curated project that has been specially conceptualized and will be exhibiting installation art and a Video Lounge that will showcase video art by contemporary Indian as well as international artists.

A wide cross-section of art both conventional and conceptual will be on display thus offering collectors and investors a unique opportunity to not only enhance their understanding of art, but to also discover latest trends in international art.

(Published in Financial Times)

India Art Summit – an opportunity for networking

(By Nalini S Malaviya)

The second edition of the India Art Summit kicking off two days from now, promises to be a meeting ground for members of the art fraternity. A mix of curated projects, gallery stalls, educational programmes, art films and speaker forums, the summit offers its visitors plenty of opportunity to get initiated into art and into interact with artists and connoisseurs. Art collectors, investors, critics and other members of the art community from across the country are looking forward to the art extravaganza. However, how much of this enthusiasm is affected by the H1N1 flu and the resultant travel advisories remains to be seen.

According to Neha Kirpal from the India Art Summit, "It's the one time of the year that every member of the Indian art community convenes, participates, and benefits from coming together. The exchange and dialogue happens on many levels - while discussing trade in the art fair, debating issues in the speakers' forum, informal chats over coffee, or wine, or an evening out at one of the fifteen collateral events"

This year 54 galleries, including 17 from around the world – from UK, China, Philippines, Germany, UAE and USA are amongst those who are participating. In this edition, the international speaker forum includes topics related to the economic and social implications of globalism and globalization, emerging markets, valuation of art, and conversations between artists and critics. The panel of speakers includes curators, critics, artists, collectors and representatives from museums and galleries from the world over. The Sculpture Park is going to be another major attraction that utilizes an open-air space at the entrance of the fair, where large-scale outdoor sculptures and installations will be showcased. The Purple Wall Project is a curated project that has been specially conceptualized and will be exhibiting installation art and a Video Lounge that will showcase video art by contemporary Indian as well as international artists.

A wide cross-section of art both conventional and conceptual will be on display thus offering collectors and investors a unique opportunity to not only enhance their understanding of art, but to also discover latest trends in international art.

(Published in Financial Times)

Art education : Need of the hour

(By Nalini S Malaviya)

The Indian art market has grown extensively in the last decade and our artists have received widespread recognition, both within the country and abroad. During this expansion phase the number of artists, dealers and galleries has increased substantially, and, so has the demand for ancillary services such as art advisory including valuation, appraisals and authentication etc. Similarly, art writing and curatorial services are also much in demand. There is a great need to have programmes relating to art laws and various other business of the art market.
Unfortunately, professional courses related to these fields are either non-existent or constitute a dismal number in the country. Although, there are many fine art colleges and institutes, most of them offer conventional art education programmes.

In fact, students and professional who have the inclination and financial backing opt for niche programmes abroad. London, US and even Singapore make excellent destinations for those who are looking at specialized courses relating to various aspects of art. The lack of educational facility in India translates into fewer professionals who are equipped to cater to a market that is poised to grow further. Investors are forced to rely on people who lack the requisite expertise. At a micro level, short term art appreciation courses will benefit investors and art connoisseurs who are looking at expanding their knowledge base.

What is surprising is that despite a spurt in demand not much has been done to tap the potential in this sector. Osian’s has recently come out with OLE – Osian’s Learning Experience – courses that are based on arts and culture. However, as these will be launched in October, it remains to be seen how tailored these courses are in terms of existing requirements.

As the business of art will continue to grow further it makes sense to offer quality and world class education to ensure Indian art emerges as a vibrant and ethical sector.

(Published in Financial Times)