Works by contemporary Indian artists are in great demand by galleries and collectors. Prices are continuing to grow

In a race of young developing art markets, India now concede only to China. Thanks to high economic growth in the mid 1990's in India, a generation of investors willing to invest in the work of their compatriots. Today, the demand for works by Indian artists across the world, and it continues to grow - largely due to the natural desire of investors to get a good profit in a short period of time. And for that the country is a great opportunity. The new stars of Indian art community is sold at auction auction house in Hong Kong and Dubai, London and New York, New Delhi and Paris. India has become a new Eldorado for collectors and buyers, which draws its investment potential.

The fact that prices for works by Indian artists jumped very high, can be seen on the example of the sculptor Anisha Kapoor (Anish Kapoor) - the owner of the Turner Prize, whose works were exhibited at such major museums as the Tate and the New York MoMA . He was born in 1954 in Bombay, and in 1972 moved to England, where lives so far. His first sculpture was in the open market in the 1980's and cost 15 400 Euro. There are millions of pieces Kapoor. This applies in particular to its large alabaster sculptures. One of them, about two meters in height, went under the hammer at auction in London on 1 July 2008 for 1.72 million pounds (2.2 million euros). Typical for this master of the mirror is now worth no less. Since 2004, prices for works by Kapoor, even the mass of work to grow. For example, covered with red lacquer bronze sculpture, entitled Blood Solid ( «Solid as blood»), published in the quantity of 8 units, was sold in 2004 for 80 thousand dollars. In 2006, one of the copies went under the hammer at Sotheby's for 136 thousand dollars. And another option, exhibited this year at Sotheby's auction in New York, has already cost the buyer a 250-thousand dollars.

Another rising star of Indian art scene - Subodh Gupta (Subodh Gupta), declared himself at international auctions, only four years ago. Now the pace of growth in popularity and compare the price he himself Damien Hurst! In the 2005-meters of cloth «Fisherman» (Fisherman) was sold at Sotheby's for 13 thousand dollars. And in 2007-m value of his work has risen up to 130-280 thousand euro. Today he enjoys success in the world: collectors in Hong Kong, London, New York and France, eager to acquire his works.

processes of this kind is actively promoted a number of auction houses, including Christie's and Sotheby's. In the past few years have been carried out specialized trades, which exhibited works of art in Asia. The first auction dedicated session on contemporary Indian art, held in France 3 December 2007 the house Artcurial - and success: profit of 1.4 million euro. Among the more interesting lots of the auction include a picture Mandzhunata KAMAT (Manjunath Kamath) Teeth Politics ( «Politics teeth»), which the author completed before the auction. The film cost a buyer in 36 thousand euro. Representatives of the home Arturial decided to continue the Indian theme, and included work by artists from India's contemporary art auction catalog of 3 April 2008. Then the installation Subodh Gupta Vehicle for the seven Seas ( «Transportation for the Seven Seas») was sold for a sum of three times the estimeyt and pobivshuyu all previous records by this artist, - 425 thousand euros. However, the record kept short: only a month later, in May, another work of Gupta went under the hammer for 651 thousand euros. And in July at Sotheby's London auction of his paintings, written in 2005, was bought for 657 thousand euro.

But the biggest surprise in 2007, presented Ragib Shaw (Raqib Shaw). At the auction on 12 October in London his work «The garden of earthly pleasures III», exhibited in 2006 at the New York Museum of Modern Art (MoMA), was sold for 2.4 million pounds (3.45 million euros) and has become the most expensive piece of contemporary Indian artists.

There are still a few Indian artists who have already embarked on the lower level of the world rankings the most highly paid artists. Among them, Atul Dodiya (Atul Dodiya), whose work «Three artist» was bought in October 2007 for 450 thousand dollars (322 thousand euros). In April 2008 the first landscape triptych Khera Bharti (Bharti Kher), whose work first appeared at auction in 2006, was sold at auction in London for 165 thousand pounds (209 thousand euros), almost triple excess estimeyta (40-60 thousand pounds ). A month diptych TV Santosh (TV Santosh) went under the hammer at Christie's in New York for 280 thousand dollars (178 thousand euros).

Due in part to specialized auction prices for works of contemporary Indian art grow simply fantastic pace. According to artprice.com, the July increase in this category over the past 10 years amounted to 3 230 percent!

Source: artprice.com