Art Investment has been bullish for quite some time. The bull trend seems to continue in 2011 as Art is increasingly moving from collectable asset towards a financial asset.
The prospect of investments pouring into art is supported by rising class of super-wealthy and research companies believe more "hot" money, lured by recent spectacular gains, would enter not only emerging markets but also established Western markets too.
Christie's posted record annual sales of 3.3 billion pounds ($5 billion) in 2010, up 53 percent on 2009. Sotheby's boasted an auction total, not including private sales, of $4.3 billion in 2010 versus $2.3 billion in 2009.
Christie's posted record annual sales of 3.3 billion pounds ($5 billion) in 2010, up 53 percent on 2009. Sotheby's boasted an auction total, not including private sales, of $4.3 billion in 2010 versus $2.3 billion in 2009.
Similar to Global Markets, Indian Art Market seems very lucrative with twenty-four rare paintings depicting the famous Battle of Pollilur, in which the East India Company army surrendered to Tipu Sultan and his father Hyder Ali, were the piece de resistance of British auction house Sotheby's World Sale of Art. The paintings are estimated at 650,000-800,000 pounds.
Indian Art Industry is currently poised at Rs 2000 Cr. and is not even in Top 20 Art markets. Expecting many fundamental changes with the infrastructure of the Indian Art Market in times to come, India seems a lucrative market.
Source: Multiple
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