India’s art summit, by James Lamont«Now in its third year and spanning four days (including a VIP and press preview on January 20), the summit has steadily grown in size. When its doors open on January 21, 84 galleries from 20 countries will show the works of an estimated 500 artists. As many as 60,000 visitors are expected to attend, compared to 40,000 in 2009. In 2008, fewer than 10,000 people came, and sales were little more than Rs100m ...
«In 2009, when it was held in August and at a time of cooling art prices, just over half of the works on display were sold, generating about $5.4m. About 40 per cent of these sales were to first-time buyers, showing the curiosity and spending power of a new market ...
«“People still buy what they culturally identify with,” she says ...
«Because of the appetite among Indian collectors to buy works of top international blue-chip artists, she says galleries are bringing in smaller (perhaps lower value) works of the top international artists. Local collectors include the Ambani family’s Harmony Art Foundation, Malvinder Singh, formerly chief executive of pharmaceutical company Ranbaxy, and Kiran Nadar, wife of Shiv Nadar who controls IT company HCL. Big buyers, such as businessmen Mukesh and Anil Ambani, are taking a greater interest in art, as their own travels take them to some of the world’s best known galleries and museums in Europe and the US [...]
«In 2009, when it was held in August and at a time of cooling art prices, just over half of the works on display were sold, generating about $5.4m. About 40 per cent of these sales were to first-time buyers, showing the curiosity and spending power of a new market ...
«“People still buy what they culturally identify with,” she says ...
«Because of the appetite among Indian collectors to buy works of top international blue-chip artists, she says galleries are bringing in smaller (perhaps lower value) works of the top international artists. Local collectors include the Ambani family’s Harmony Art Foundation, Malvinder Singh, formerly chief executive of pharmaceutical company Ranbaxy, and Kiran Nadar, wife of Shiv Nadar who controls IT company HCL. Big buyers, such as businessmen Mukesh and Anil Ambani, are taking a greater interest in art, as their own travels take them to some of the world’s best known galleries and museums in Europe and the US [...]
Art Lounge Gallery (Lisbon, Portugal) is one of the 84 of the world’s leading art galleries attending the India Art Summit™ between January 20th and 23rd 2011, in New Dehli (India).
Picture: Courtesy IAS
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