Some Indian artists already have a global market. Now, India is ready to develop as a global hub for art
Wherever I travel, I find that the interest and audiences for art continue to grow, and with that we see new collectors engaging in the art market at all price levels. This is equally true in India, a country with such rich artistic heritage. Spending time with our team in Mumbai and meeting clients over the last few days, I am more certain than ever that the time is right for us to be holding our inaugural auction.
We held our first online-only auction in December 2012, and have followed with over 40 online-only auctions where almost 40 per cent of buyers are new clients. In addition, the website continues to see a growth in visitors, and almost one in three of our clients now chooses to bid at a traditional auction via Christie’s LIVE. [Christie’s auction in Mumbai was broadcast on Christie’s LIVE for bidders from around the world who were able to bid online.]
I think the biggest challenge is already overcome: The logistics of putting on our museum-quality exhibitions in New Delhi and Mumbai have involved hours of planning and hard work. We are incredibly fortunate in this, our inaugural sale, to have great works from leading artists of the modern art movement in India, many from the personal collection of the highly respected gallery owner Kekoo Gandhy. Some of these works cannot be exported and we are very privileged to be able to provide an environment where they can be exchanged domestically and their importance recognised by an international group of collectors. As for a more thorough analysis of the differences in each region, perhaps this would be best answered after the sale when we have had a chance to analyse the results.
(This story appears in the 10 January, 2014 issue of Forbes India. To visit our Archives, click here.)