Showing posts with label indian contemporary art. Show all posts
Showing posts with label indian contemporary art. Show all posts

Monday, November 15, 2010

Affordable Art Market Picks UP

Untitled, R.B.Murari, 2010 -
coutresty Monsoon Canvas

The art market has had a spate of activities in the recent past with a lot more slated to happen in the next few months. Despite the increase in the number of events and exhibitions, sales in the primary market are yet to reach the levels seen prior to 2009.
However, there are indications that there is a rise in sales of art which can probably be categorised as 'affordable' and is in the range of Rs 20,000 to Rs 75,000. This segment is probably expanding and benefiting the most. Artworks by young contemporary artists, especially those who have created a niche for themselves in the last few years and have also sustained themselves through the period of recession, continues to find buyers.
This segment, although priced higher, is sustaining itself thanks to a loyal buyer base, and it is clear that the artists benefiting the most are those who have continued to focus on quality and have been less prolific than others. A recent survey of confidence levels in the art market which based its analysis on results from secondary sales and auction reports indicates that the strength shown earlier in the year was unable to sustain in the recent months.
According to the report, 'The Indian auction sales season failed to meet market expectations. The total auction value for modern and contemporary Indian art at Sotheby's, Christie's and Saffronart came in 20 percent below the low presale estimate'.
However, it goes on to clarify that a probable cause for this could be 'over-ambitious valuations' and 'lack of quality works' which may have put off buyers. But, the overall prognosis suggests that the market is levelling out after a period of recovery. Interestingly, although there is a marginal dip in the positive sentiment in the market, the report suggests a promising short-term outlook in the next six months, although the pace is likely to be slow.
Economic Times online 15 November 2010

Wednesday, June 2, 2010

Seminal Masterpiece by Syed Haider Raza Leads Christie's Sale

Syed Haider Raza (b.1922), "Saurashtra", 1983. Estimate: £1.3 million-1.8 million. Photo: Christie's Images Ltd., 2010.

LONDON.- On 10 June, the day after Christie’s unprecedented sale of art works selected from the Estate of Francis Newton Souza, the momentum continues with Christie’s South Asian Modern and Contemporary Art auction. The renewed confidence in the market for this category was signalled by the success of the New York sale in March, which realised $8.9 million and was 95% sold by value, with many new private collectors bidding. The international appeal of this field continues to grow, with participation from buyers in Singapore, Hong Kong, U.A.E, the United States and Europe. The London sale is led by Saurashtra, 1983, a seminal masterpiece by Syed Haider Raza (b.1922) (estimate: £1.3 million-1.8 million), which is the most valuable modern Indian work of art ever offered at auction. This auction presents an exhilarating array of important works from private collections, with excellent provenance by the leading Indian and Pakistani artists of 20th and 21st century. Featuring the celebrated masters of the Progressive Artists Group, through to the biggest names in contemporary art, attractive estimates cross the spectrum of artists, styles and media with estimates ranging from £1,000 to £1.8 million. The sale is expected to realise in excess of £4 million. Please see the separate press release for details on the sale of art works selected from the Estate of Francis Newton Souza.

Yamini Mehta, Christie’s Senior Specialist, Director, South Asian Modern + Contemporary Art, London: “The global art market is receptive to the best. As international collectors converge in London this June prior to heading to Art Basel, where an increased number of South Asian Art will be on view this year, we are thrilled to be offering iconic works by the masters as well as important contemporary works, including examples by Pakistani artists. It is important that Christie’s, as well as galleries, art fairs and institutions, continue - as they do - to broaden concepts of what constitutes Sub-Continental art.”


The top lot of the sale is the most valuable modern Indian art work ever to be offered at auction: Syed Haider Raza’s Saurashtra, 1983, (estimate: £1.3 million-1.8 million), from a Private French Collector who acquired it directly from the artist, illustrated above. This large work (78¾ x 78¾ in. / 200 x 200 cm.), by one of India's leading modern masters, belongs to a key period in Raza's career when his artistic path brought him full circle and he began to integrate vital elements of his Indian childhood and cultural heritage into his paintings. Combining powerful and expressive brushstrokes with a very rich palette, Saurashtra provides a transitional bridge into his structured geometric works which are characteristic of his most recent body of paintings. Exploring landscape and nature; gesture and expression; geometry and spiritualism, this painting is one of Raza's most ambitious works to date. This is a remarkable opportunity for collectors and institutions around the world.

Further Modern Highlights:

• Untitled (Arjuna and Krishna), circa 1980s, by Maqbool Fida Husain (b.1915) (estimate: £500,000-700,000) which portrays the heroes of the Hindu epic, the Mahabharata. The strong influence of classical Indian painting and sculptural traditions upon Husain is evident in this work, which exemplifies the characteristic energy of Husain’s canvases.

• Falling Bird, 1999 is a tour de force by Tyeb Mehta (1925 -2009), one of India's greatest Modernist masters (estimate: £400,000-600,000). Having executed only a relatively small body of work, it is very rare that such an important example comes to auction. With mythological thematic roots, this work skilfully combines concept, line, colour and composition.

• Untitled (Gulammohammed Sheikh with Tom Hancock), circa 1970s by Bhupen Khakhar (1934-2004) (estimate: £100,000-150,000). Gulammohammed Sheikh was Khakhar’s lifelong friend; Tom Hancock (1930-2006), a British architect who taught at Baroda during the seventies and designed the Battersea Peace Pagoda in London, also became part of the artist’s circle. Drawing inspiration from the West and India, this painting stylistically alludes to early Italian painting and Bengali pata painting from Kalighat, but also imbues the spirit of Henri Rousseau and David Hockney.

Contemporary Works:

The strong array of contemporary art featured provides collectors with an opportunity to acquire significant works by some of the best known South Asian practitioners today. Subodh Gupta is one of India's leading contemporary artists, whose powerful vocabulary is firmly rooted in the vernacular of everyday India. Chimta, 2003, (estimate: £200,000-300,000), transforms hundreds of stainless steel tongs or 'chimta' - a common Indian kitchen staple used for handling chapatti and naan bread - into a metallic explosion of wonder. Offered from a private European collection, this semi-globed constellation continues the legacy of Duchamp’s ready-mades whilst simultaneously revealing the sensuous splendour of familiar objects, as if they are precious or luxurious commodities. Gupta stirs questions about the dramatic changes and shifts that accompany India's strengthening economy and its effect on the country's deeply spiritual and ancient culture.

Further Contemporary Highlights:

• Untitled by Ravinder Reddy (b.1956) (estimate: £90,000-120,000), who contemporises traditional Indian goddesses, whilst referencing Jeff Koons and playing with the American concept of "super-sizing." Through such transformations and re-appropriations of ancient Indian temple sculpture, the artist is possibly commenting on how India's religious and cultural histories are being diluted and Westernised by the surge of ‘progress.’

• Dis-location 3, 2007, by Rashid Rana (b. 1968) illustrated left (estimate: £60,000-80,000) who charts a new course with his ‘Dis-location’ series by using one location photographed over a duration of twenty four hours to create the large composite image of the same location. Disorienting the viewer’s sense of time and place, the 'pixels' of the work illustrate the frenetic nature of busy street life in contemporary Lahore, whilst the overall image possesses the charm of a historical photograph.

As printed in, 2nd June 2010

Thursday, November 5, 2009

Guide to investing in art - How do I choose the right artist?

There are primarily 2 ways in which one could invest in Art:
1. Investing in individual pieces of art work similar to buying shares of a particular company or
2. Investing in an Art Fund which is similar to investing in a mutual fund, where there is no possession of the art work

This article discusses what we need to look for while investing in Individual artists and artworks.

Like the stock market, there are some key attributes that you should be aware of before buying an artwork. The artist is the brand (like a company) and the products are the artworks he produces, therefore it is pertinent that one invests in a good artist. How to judge whether an artist is good? Here is a check list of factors that you can use:

1. How famous is the artist? – A little bit of research will let you know who the well bought artists are, who the emerging artists are and the ones that are promising starters. You need to make the decision between these different categories of artists. For the very famous ones, your budget needs to be higher than for a promising star, which may have high appreciation potential.

2. What is the artist’s training background, is he/she from a famous art school? – did he/she train under a famous artist? – Most galleries have a bias against self-taught artists (the artists who do not have a formal education), but this doesn’t mean there are no talented self taught artists – MF Hussain, Bhupen Khakhar are the most prominent ones.

3. How many shows or exhibitions has the artist done in the past and in which galleries? – The more the better, since galleries only host artists that they think will sell well.

4. How long has the artist been painting? - The longer the better, as style and technique matures over the years, with experience.

5. The number of awards and accolades won by the artist – Awards and accolades given by recognized national and international art institutions.

6. The workshops and other learning events attended – Workshops help an artist learn and grow in creativity, technique and outlook.

7. The number of international shows exhibitions – International shows and exhibitions proves that the artist is not only a good artist but also a good PR person, which is important to sell art.

8. Find out whether reputed art institutions like museums, organizations have the artist’s work in their collection.

9. Does the artist have a unique style – This can be found from reviews written on the artist or by comparing his works to others

10. But the most important question is DO YOU LIKE THE ARTWORK, because it will be hanging on your wall for sometime.
The above checklist should help you select a good artist for the purpose of investment.


• It is best to acquaint yourself with the art scene before making a decision to purchase a piece. It is advisable to visit art shows, galleries and use the internet to read reviews and article on art.

•All galleries have artist biographies on their websites, which provide most of the information needed as above. Some sample biographies :
o CF John / Asma Menon / Yashwant Shirwadkar

• In the event of purchasing, please make sure to get an authenticity certificate – preferably from the artist himself.

Happy Art Investing !

Above : An untitled portrait by TM Azis