CONTEMPORARY ART MARKET TRENDS AUCTIONS
ArtTactic recently released their spring 2012 auction analysis of Indian modern and contemporary art sales. After twenty straight months of descent, the March 2012 report indicates a 27 percent decline since March 2011 and a startling 62 percent drop from its peak in June 2010.
According to ArtTactic, where you can buy the full report,
Market fatigue plagues the Indian auction market
The Modern and Contemporary Indian art market experienced another season of decline, with a total sales volume of USD10,438,532, down nine percent from September 2011 and 27 percent lower than in March 2011.
The Indian art market has been on a steady decline in the last twenty months, and the sales volume today is 62 percent lower than in June 2010. Without an influx of a new generation of buyers and high quality, fresh material coupled with realistic valuations, the Modern and Contemporary Indian auction market will continue to tread water.
- Sotheby’s Hong Kong spring 2012 auctions: Modern Asian art still outselling contemporary – April 2012 – mixed results from a recent Hong Kong auction of Asian art
- India Art Fair Founder Neha Kirpal sees galleries “upping the game” – ArtTactic podcast – March 2012 – Kirpal is optimistic about the long-term prospects for Indian galleries
- India Art Fair 2012: For international galleries, India focus among emerging economies – February 2012 – Indian modern and contemporary art sold well enough at the India Art Fair
- Rising confidence in Indian arts as market recovers – June 2010 – a view of the Indian market at its previous peak in June 2010
- Dinesh Vazrani CEO Saffronart speaks about 2010 market outlook for Indian art – ArtTactic podcast – March 2010 – a pre-eminent Indian gallerist and founder of a premier online sales platform talks about the market for Indian art
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