(Nalini S Malaviya)
As discussed extensively in the past, the global economic meltdown has seriously affected the art market and both primary and secondary sales of art have slowed down.
Some analysts had predicted that since the prices of contemporary artists had risen too sharply in a short period of time, these were more likely to plateau as compared to the modern artists. And this trend is already visible, where prices for contemporary artists are now going through a process of stabilization. This also means that their prices are comparatively lower than what was seen a few months ago.
According to experts, the works by modern artists can be compared to blue chip stocks. And, just as in the stock market one should invest in blue chip stocks now, similarly in the art market one could look at investing in modern artists. Investors could also look at diversifying their portfolio and may want to consider investing in upcoming artists. Upcoming artists may form a high risk category from a financial investment perspective, but as the outlay is also comparatively less, it might be worth taking the risk. When investing in new talent, one should be prepared to hold on for a longer duration to maximize returns. Buyers should also keep a look out for good quality works that may come up at auctions. The slowdown in the art market is irrevocably linked to global financial health, and it may take some time before the recovery process begins.
Therefore, given the current situation, there is no harm in going slow for a while. One should assess and evaluate the situation carefully before investing. This is also a good time to learn more about art in order to be able to make smart decisions.
(Published in Financial Times)
24 Nov 2008
20 Nov 2008
Entanglements
Art show by artist Pulak Ghosh
Nalini S Malaviya
A profusion of birds on artist Pulak Ghosh’s canvas greet the viewer, as he contemplates on the best possible display for his paintings. In Bangalore, with his recent series of works, Pulak has studied fine arts at the Rabindra Bharati University, Kolkata. Born in 1954, he has been a part of several shows but this is his first solo in Bangalore.
This latest series of works is titled ‘Entanglements’ and it stands for a lot more than just the tangling of the long necks of the cranes (birds that are seen along the west coast of America). At the first instance the theme somewhat surprises with its simplicity and its apparent decorative quality. But, a closer look reveals more elements - the overlapping of the traditional with the modern, the dormant violence and the exquisite detailing.
In reality, these white and grey birds with their elongated necks entwine and suffocate each other with their intensity. The artist has attempted to highlight social and political deceptions. The difference between perceived reality, delusion and the truth will always concern us and it is this very aspect that Pulak attempts to compose on his canvas.
Outstretched hands dominate the lower part of the canvas; the black and white palms denote the diverse human traits. Often, basing his protagonist on the Kalighata patas and combining them with the elegant birds he creates an unusual and unlikely pictorial language. The colourful folk art and the elegance of the pure white birds contrast and complement interestingly. Similarly, the elaborate detailing on the birds stand out against the solid blocks of colours found on the protagonist. He also has acrylic and ink drawings on paper and a few works in vitreous enamel.
(The exhibition continues till November 16 at Times and Space Art Gallery, Bangalore)
Nalini S Malaviya
A profusion of birds on artist Pulak Ghosh’s canvas greet the viewer, as he contemplates on the best possible display for his paintings. In Bangalore, with his recent series of works, Pulak has studied fine arts at the Rabindra Bharati University, Kolkata. Born in 1954, he has been a part of several shows but this is his first solo in Bangalore.
This latest series of works is titled ‘Entanglements’ and it stands for a lot more than just the tangling of the long necks of the cranes (birds that are seen along the west coast of America). At the first instance the theme somewhat surprises with its simplicity and its apparent decorative quality. But, a closer look reveals more elements - the overlapping of the traditional with the modern, the dormant violence and the exquisite detailing.
In reality, these white and grey birds with their elongated necks entwine and suffocate each other with their intensity. The artist has attempted to highlight social and political deceptions. The difference between perceived reality, delusion and the truth will always concern us and it is this very aspect that Pulak attempts to compose on his canvas.
Outstretched hands dominate the lower part of the canvas; the black and white palms denote the diverse human traits. Often, basing his protagonist on the Kalighata patas and combining them with the elegant birds he creates an unusual and unlikely pictorial language. The colourful folk art and the elegance of the pure white birds contrast and complement interestingly. Similarly, the elaborate detailing on the birds stand out against the solid blocks of colours found on the protagonist. He also has acrylic and ink drawings on paper and a few works in vitreous enamel.
(The exhibition continues till November 16 at Times and Space Art Gallery, Bangalore)
19 Nov 2008
Is this is a good time to buy art?
(Nalini S Malaviya)
A couple of readers wanted to know if this is a good time to buy art. Well, if you are not suffering from a liquidity crunch, then the answer is yes, this is definitely a good time to pick up some serious art. The art market is going through a critical phase and it will be a while before it stabilises. But, here are a few good reasons to buy art,
* For the first time in many years prices are coming close to being reasonable.
* Quite a few galleries and dealers are now willing to negotiate prices.
* Due to a cash crunch some investors are letting go of quality works at lowered prices.
* For the same reason, good works are likely to come up at auctions
* Galleries are likely to focus on better quality works in order to woo the discerning buyer.
* Artists are likely to slow down their frenzied pace (remember, a few years ago artists were accused of resorting to mass producing their works) and focus once again on quality.
The trend appears to be shifting somewhat from the investment aspect of art to its aesthetic or intrinsic value. It therefore appears that decorative and affordable art will do well in the interim period, but serious collectors are on the lookout for excellent works.
As a buyer, for you, an ideal work of art is one that can combine the aesthetic and financial investment components. To buy a work, one can either do a systematic research and zero in on to the artist or even the art work, or one can visit ongoing art shows and pick one that appeals visually and also suits ones wallet. The former has more chances of being a winner in the long term, as it is backed by appropriate research.
Art lovers not welcome!
In closing I wanted to mention that on one hand most galleries are cribbing about the current situation where sales are hit and even footfalls are reduced, on the other hand one hears of instances where walk-ins are actively discouraged. Last week it happened to me as well, and it left a bad taste in my mouth. It also made me wonder, what about the enthusiastic buyer who decides to check out the art gallery round the corner, hoping to find something suitable for that empty space above the sofa? Does he then turn back after encountering sullen staff, wishing he had never ventured into such hallowed surroundings? Well, one hopes these are isolated cases and don’t become a popular trend.
11 Nov 2008
Bangalore Art Shows
Nalini S Malaviya
Going by the number of exhibitions being held in the city it is hard to believe that the art market has slowed down at all! One reason that could explain the quantum of shows is that most of them must have been planned for and organised well in advance. But, what is interesting is that many of them also claim to be selling quite a few artworks.
Readers will remember that most auctions of Indian art as well as Western art have been performing miserably in the last few weeks. Many prominent art galleries too have indicated that their sales are affected. But, auctions reports alone cannot be used as a sole measure of the overall state of the art market. In fact, one notices that there is a section of people who is continuing to buy art for its intrinsic value. And, also, sale of affordable art is on the rise. Anything under a lakh or so is an attractive proposition for buyers. What is emerging is that buyers are much more aware now and they are able to distinguish, evaluate and compare quality with prices. This will hopefully result in better quality art at reasonable prices.
At one of the exhibitions that I visited last week, a large painting priced at Rs 90,000 or thereabouts was already sold. This particular work caught my attention with its subtle wit and humour. It features a cow wearing headphones and apparently snoozing, while listening to a crow seated on its hump and ‘crowing’ into a microphone. Part of a group show by four artists (Jiban Biswas, Mintu Malick, Ashis Mondal and Nageshwar Sharma) from Bengal, one saw pleasant works that focused mainly on aesthetics. This exhibition concludes today at Chitrakala Parishath.
Going by the number of exhibitions being held in the city it is hard to believe that the art market has slowed down at all! One reason that could explain the quantum of shows is that most of them must have been planned for and organised well in advance. But, what is interesting is that many of them also claim to be selling quite a few artworks.
Readers will remember that most auctions of Indian art as well as Western art have been performing miserably in the last few weeks. Many prominent art galleries too have indicated that their sales are affected. But, auctions reports alone cannot be used as a sole measure of the overall state of the art market. In fact, one notices that there is a section of people who is continuing to buy art for its intrinsic value. And, also, sale of affordable art is on the rise. Anything under a lakh or so is an attractive proposition for buyers. What is emerging is that buyers are much more aware now and they are able to distinguish, evaluate and compare quality with prices. This will hopefully result in better quality art at reasonable prices.
At one of the exhibitions that I visited last week, a large painting priced at Rs 90,000 or thereabouts was already sold. This particular work caught my attention with its subtle wit and humour. It features a cow wearing headphones and apparently snoozing, while listening to a crow seated on its hump and ‘crowing’ into a microphone. Part of a group show by four artists (Jiban Biswas, Mintu Malick, Ashis Mondal and Nageshwar Sharma) from Bengal, one saw pleasant works that focused mainly on aesthetics. This exhibition concludes today at Chitrakala Parishath.
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Incidentally, there were three other exhibitions going on at the Parishath - one of them was held by students from CAVA University, Mysore and featured their paintings and sculptures. The effect was a little crowded as there were too many works, but I quite liked a few works in stone and a couple of paintings. Hopefully, these students will do a better job of media and PR next time, because as far as I could see not many people knew about their show.
Another exhibition by a group of artists (Sumita Maity, Arpita Chandra, Pradip Sau and Anjan Kumar) from Bengal appeared to be slightly disjointed, but had a few good works.
The last exhibition that was going on was of watercolours inspired by nature, but it was a little too garish for me. I feel the beauty of the medium lies in its delicate, understated look which was completely missing. These three exhibitions that I have mentioned have already ended last week.
Published in Bangalore Mirror
5 Nov 2008
Tale of two cities
(Nalini S Malaviya )
Last month I was in Ahmedabad and could not help but compare the art scene between the two cities. Quantitatively speaking, the number of galleries and art shows that happen in Bangalore is much higher than what one sees in Ahmedabad.
Visitors from Mumbai and Delhi find Bangalore lagging behind on the art front, and I have to say the same for Ahmedabad. The level of awareness and interest in art appears to be low and one of the reasons that I could correlate it with is that there is hardly any coverage about art related events in the media. And, this is despite the fact that a number of well known artists live there.
Media plays an important role in reporting news and creating awareness about local and global issues. But, it has an equally important role to play in providing the necessary leverage in promoting fine arts and culture. We are fortunate in Bangalore to have a supportive media who has been giving widespread coverage to art exhibitions and related topics. It is another matter that often the kind of art that gets promoted is questionable. While, in Ahmedabad, gallerists and other people that I talked to, cribbed about the dearth of art critics and journalists.
Last month I was in Ahmedabad and could not help but compare the art scene between the two cities. Quantitatively speaking, the number of galleries and art shows that happen in Bangalore is much higher than what one sees in Ahmedabad.
Visitors from Mumbai and Delhi find Bangalore lagging behind on the art front, and I have to say the same for Ahmedabad. The level of awareness and interest in art appears to be low and one of the reasons that I could correlate it with is that there is hardly any coverage about art related events in the media. And, this is despite the fact that a number of well known artists live there.
Media plays an important role in reporting news and creating awareness about local and global issues. But, it has an equally important role to play in providing the necessary leverage in promoting fine arts and culture. We are fortunate in Bangalore to have a supportive media who has been giving widespread coverage to art exhibitions and related topics. It is another matter that often the kind of art that gets promoted is questionable. While, in Ahmedabad, gallerists and other people that I talked to, cribbed about the dearth of art critics and journalists.
I must talk about one of the exhibitions that I visited at Marvel art gallery, a leading art space in Ahmedabad that centred around a contemporary theme along with an unusual execution. ‘Nagarnama II’ - Nationalism to Internationalism featured some humungous sized canvasses by a young artist Harshil Patel. More than the paintings themselves the two huge works running almost the entire length of the gallery, and the entire floor covered with charcoal bricks gave it an interesting dimension. Exploring the theme of rapid urbanization and the corresponding change in cultural identities, the paintings portrayed the altered skylines. This combined with an installation and a collage of photographs; the gallery space was radically altered and created a special ambience. The feeling one had of standing on the pitch black road and viewing colourful artworks around me was remarkable.
In closing I would like to mention that on November 8, the art auction house Emami Chisel will hold its next auction of Indian art. According to their press release, the focus will now be on contemporary works and a lot of young artist's works will be put up for auction this time. Apart from painting, drawing and printmaking there will also be sculpture, photography and a two Channel video projection. The online auction starts on November 3rd and will merge and continue with the live auction on 8th November.
(Published in Bangalore Mirror)
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