Art exhibitions gather momentum in the art market

It is a delightful season for connoisseurs, as there are a number of art exhibitions happening all over the country, especially in the Capital. Most exhibitions are group efforts, either curated or gallery collections that are offering a wide range of contemporary art to the discerning buyer. However, it is interesting to note that there is plenty of overlap in the artists between the various shows.

Most galleries are now opting to play it safe. Their focus at the moment is on the middle bracket that is considered to be a safer option compared to new and upcoming artists. This is not surprising given the recent trend where art prices went through a major downfall during the economic recession. Incidentally, modern artists and other established artists are not as much in the spotlight for the simple reason that their prices are quite beyond the average buyer.

Spoilt for choice, the buyer or investor is not complaining. To look at it this way, it offers a wider choice to the buyer as the same artist's work is available at several venues in the same city or across cities, simultaneously or within a short period of time. On the flip side, most works from the same series tend to look similar, and there might be very little difference between the works that are available even at separate venues or cities.

The emphasis now is on salability and galleries are doing their best to ensure that the works are not only saleable but also the artists are reliable names from a long-term perspective. The loss in confidence that was seen earlier needs to be addressed. It has to be re-instilled in the buyer and investor, and most reputed galleries are doing their best to make art an attractive option once again.

However, there is a possibility that overexposure could have a negative impact and could lead to buyer fatigue as well. The onus lies not only on the gallery, but also with the artists and curators.

(Published in Financial Times)

Quality materials ensure better resale value

A poor quality canvas or paper will not last long as it is more susceptible to mold and degradation as a result of environmental conditions. When you are spending so much on a work of art, it is only reasonable to expect it to last for years to come, and it is a known fact that the condition of an artwork affects its resale value as well.

Cheap or low-grade material will degrade faster, thereby affecting its overall lifespan and may require higher maintenance and even frequent restoration in the interim period. Fortunately, excellent quality paper (for paintings and photographs), canvas and pigments are now available in the country and that too at reasonable costs. Established artists do ensure that they opt for the best-available materials and rarely cut corners.

Earlier, when options were limited, and better canvases and pigments had to be imported, buyers too were more forgiving. But today, when everything is easily available off the shelf there is no excuse for inferior choices. Therefore, even if the painting is of excellent quality, it is not enough. Paper is especially prone to wear and tear, and one needs to be extra cautious when buying them.

Good quality paper that could last for almost a century without significant damage is available in the market and many artists use it as well. In short, as a buyer you have every right to question and find out more about the materials which have been used in the artwork in order to safeguard your interests. It is important for everyone to be quality-conscious, and if galleries and buyers insist on it, compliance will improve and all artists will shift to better-grade materials in order to sustain the works.

(Published in Financial Times)

A look at the market for experimental art

(By Nalini S Malaviya)

It can be observed that a large number of art exhibitions these days focus on conceptual and experimental art. These exhibitions are sometimes organized in mainstream galleries or more often in alternative spaces, which thrive on experimental art. Such alternative spaces are usually associated with artist residencies or collectives and provide a much needed impetus to alternative art practices.

It has therefore become fairly common to see emerging artists experiment with new media and avant-garde art. However, in terms of sales, experimental art is yet to strike a chord with a broader buyer base. Most buyers have a conservative approach and prefer to opt for traditional mediums such as paintings and sculptures for their homes or private collections. This trend continues, although today there is a growing tribe of people who appreciate and also invest in experimental art. In the past, we have seen collectors vying for paintings by S H Raza and Tyeb Mehta amongst others and in the process breaking all previous auction records. Most private museums (with a few exceptions) also tend to focus on collections of modern and contemporary art, yet there is very little space for experimental works.

Still, there is no real reason why people should refrain from buying experimental art, especially if it is of good quality. Interestingly, the quality of such artworks might be difficult to evaluate and its worth or price is largely subjective. Sales are then dependent on the extent to which the art engages the viewer/buyer.

As, art of any kind from emerging artists involves a certain amount of risk from a financial investment angle, it is not surprising that there are more takers for experimental art by established artists than by emerging ones. Only when the market matures further, there might be a shift in perception leading to greater acceptance and appreciation for newer forms of art.

(Published in Financial Times)

Art Buzz (Mumbai) Fabien Charuau

It is art season again

(By Nalini S Malaviya)

After a brief hiatus, there is a lot of activity related to art happening in cities across the country. Art collectors and buyers have plenty to look forward to in the coming season, as there are a number of exhibitions, talks and fairs which will be taking place over the next few months.

A few days ago in New Delhi, an unusual project titled ‘Conscious-sub-conscious’ organized by Gallery Espace, began, which involves letting artist Manjunath Kamath paint the gallery walls. Over a period of seven days, Kamath will draw on the walls of the gallery, converting it into a temporary studio and visitors can walk in to view what he has created and interact with the artist. However after a week’s viewing of the completed work’s display, the gallery will whitewash its walls! Another exhibition ‘Indian (Sub)way’at Vadehra Art Gallery in the capital features a group of artists in a show that has been curated by Yashodhara Dalmia.

In Mumbai, ‘Rivers of Blood’ by Paula Sengupta is going on at Gallery Chemould Prescott and The Guild Art Gallery is presenting a unique initiative involving artists and public titled 'I think therefore graffiti'. In Bangalore, 103°C Yellow Fever and other works, an art show by Zakkir Hussain just ended at a city gallery, while a show dedicated to drawings curated by Yusuf Arakkal is going on at Galerie Sara Arakkal. Birendra Pani’s solo exhibition is upcoming at Gallery Sumukha in Bangalore, while a group show curated by the London based curator and writer Shaheen Merali is going on in Chennai.

India Art Summit has come out with a list of participating galleries – 84 from 21 countries at the fair scheduled to take place in January, next year. The scale of the event is much larger than last year and promises to be better than before.

These are just some of the exhibitions, which are either ongoing or scheduled to take place shortly. Apart from these, there are many other events and shows that art connoisseurs can look forward to the next few months. The wide spectrum of art offers a perfect opportunity to view some good quality and interesting art, network with artists and others, and to get familiar with various trends as well.

(Published in Financial Times)