Indian art market swings

It seems that India's modern market can only stop at the fluctuating state of the contemporary art market. Recent auctions at Christie's and Sotheby’s have yielded mixed results. For example, the works of modernist master MF-Husain, who died in the early part of this month, sometimes sell very badly, and the demand for the work of contemporary artist Subodh Gupta has also declined. On the other hand, the works of the famous artist Tyeb Mehta (1925-2009) broke the auction record of the artist with a sale price of $3.24 million.

The Delhi-based journalist John Elliott assessed the Indian art market recently. He discovered that “distributors find it difficult to find and convince former buyers to offer high-priced works, in part because some works have been sold in recent years, and partly because of the current economic situation, especially In India, where inflation is high and there is a slow development factor, in recent years, the Indian art market has been flooded with works by MF-Husain and Souza, which have affected market demand. Last summer, Souza’s The family provided a large number of his paintings for Christie's auction and achieved outstanding results; more work was contributed this year, but it did not produce the same stimulus or price. This is not an investor who can seek quick profits The market, but this market is very beneficial to some commissioned collectors, newcomers and buyers with certain experience, if the price is right, you can buy a lot of good works."