Indian art market failing or just levelling out? New report by ArtTactic

ART MARKET REPORT INDIAN ART

A new report by ArtTactic, a company specialising in art market research and analysis, has been released. RESULTS: Indian Art Market Confidence Survey – Nov 2010 shows that the Indian art market has seen a downturn in sales due to “over-ambitious valuations and a lack of quality artworks.” However, is it just a result of the market levelling out? Read on for more about the report from ArtTactic themselves and find out where to buy it.

RESULTS: Indian Art Market Confidence Survey - Nov 2010. Image courtesy of ArtTactic.

RESULTS: Indian Art Market Confidence Survey - Nov 2010. Image courtesy of ArtTactic.

ArtTactic explains RESULTS: Indian Art Market Confidence Survey – Nov 2010

After a strong start to 2010, the Indian art market started to show signs of fatigue this autumn. The Indian auction sales season failed to meet the market expectations, when the total auction value for Modern and Contemporary Indian art at Sotheby’s, Christie’s and Saffronart came in 20% below the low pre-sale estimate. A combination of over-ambitious valuations and lack of quality works failed to generate sufficient buyer interest. However, although the results were disappointing, the total was only 5% below what was achieved in June 2010, which indicates that the market is not contracting, but rather levelling out after a 15 month strong recovery.

RESULTS: Indian Art Market Confidence Survey - Nov 2010. Image courtesy of ArtTactic.

RESULTS: Indian Art Market Confidence Survey - Nov 2010. Image courtesy of ArtTactic.

The above market sentiment, was confirmed by the latest ArtTactic Indian Art Market Confidence Survey, which shows that market confidence has levelled out, after an 18 months climb. The Confidence Indicator for the overall Indian art market has decreased marginally by 0.6%, from 62 to 61. However, there is still more positive than negative sentiment in the market for Indian art, and with stronger positive sentiment towards the next 6 months, which supports the recovery process, albeit more likely at a slower pace.

Click the link below to buy the report or to find out more.

ArtTactic India

KN

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Comments

Indian art market failing or just levelling out? New report by ArtTactic — 2 Comments

  1. Thank you very much for such a kind comment, Saurabh. We really appreciate it when we get feedback from our readers.

  2. Hi

    This site is very helpful to all contemporary and modern artist, I really appreciate whom those who are created this site.

    Thanks & Regards
    Saurabh Bhatt
    Visual Artist
    Sangam School of Excellence
    an IB World School
    Bhilwara (Rajasthan) India – 311001
    Mobile: 9887319738 / 9461262921
    E-mail:srbh.bhatt@gmail.com /
    saurabh.bhatt@sangamschoolbhilwara.com

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