Indian art market back in the black

AFP, NEW DELHI: India’s art market has emerged from a blue period with a flourish, as prices rise and the world starts to take note of its modern treasures.

Tycoons riding the country’s economic boom are helping to fuel record prices for works by the late abstract painter Vasudeo Gaitonde and other artists. Two major Paris museums are showing work by Indian women artists and the Asia Society in New York has a special show next year.

“There is lots of new interest coming in, from unexpected sides, there are new buyers in America and around the world,” said Hugo Weihe, chief executive of Mumbai-based auctioneers Saffronart.

The 2007 financial crisis hit the global art market hard and India was no exception.

 

Indian art market back in the black

AFP, NEW DELHI: Indias art market has emerged from a blue period with a flourish, as prices rise and the world starts to take note of its modern treasures. Tycoons riding the countrys economic boom are helping to fuel record prices for works by the late abstract painter Vasudeo Gaitonde and other artists. Two major Paris museums are showing work by Indian women artists and the Asia Society in New York has a special show next year. There is lots of new interest coming in, from unexpected sides, there are new buyers in America and around the world, said Hugo Weihe, chief executive of Mumbai-based auctioneers Saffronart. The 2007 financial crisis hit the global art market hard and India was no exception.