Professional Documents
Culture Documents
together the
Pieces
indias most passionate art collectors open up their
vaults and display the works closest to their heart
by Varoon P anand
ny conversation about buying art in India starts with 2008. A nascent market
rides the crest of a wave swollen over two years, where an artist can sell for
over a million dollars and stock exchange traders stop work to follow online
auctions, suddenly stops dead slashed apart by the Lehman Brothers collapse.
Prices dropped by up to 70 per cent and almost an entire generation of artists was lost
to the commercial world, says Kishore Singh of the Delhi Art Gallery. Government apathy bloomed into persecution and finally, in 2010, the countrys most well known artist
surrendered his nationality. Since then, optimistic overtures in public are met in equal
measure by hopeless sighs in empty galleries. But thats all about to change. Again.
First off, while Indias entire art world is officially valued at just US$ 40 million (although unrecorded transactions more than double that figure), for the first time in history all of Indias 100 richest are billionaires. Market analyst ArtTactic in their December
2014 report claim confidence in the Indian art market, valuing it at its highest since November 2007, with dramatic growth for the struggling contemporary domain. Christies
couldnt match the US$ 15.4 million generated at last years inaugural auction in Mumbai, but still succeeded in doubling pre-sales estimates to US$ 12 million. Notably, India
will finally be represented at the Venice Biennale, the worlds premier non-commercial
art fair, in a collateral space with Pakistan. The key, though, is the Indian art collector.
Domestically focused, conventional and they can be quite fickle, is how Shireen
Gandhy of Chemould Prescott Road describes the buyer of Indian art. Then again, in
a country with but a handful of private initiatives, where relationships with artists are
nurtured carefully what can a patron rely on but instinct and a self-trained eye to guide
acquisitions? We sit down with collectors from across the country to understand their
tastes, choices, and what they see in store for the future.
If there is one person who has played a pivotal role in my discovery of art, it is the late
Manjit Bawa. In 1987, intrigued by an article in the Illustrated Weekly featuring him,
I sought him out. He was a big influence and
mentor. I would call him an elder brother,
my guru and confidante. He held my hand
and shaped my understanding of art. My
most cherished moments in art are those
when I have made a deep connection with an
artist. My relationships with Manjit Bawa, or
Arpita Singh or Tyeb Mehta or J. Swaminathan, Ram Kumar, Bhupen Khakhar, Amit
Ambalal or Atul Dodiya, these are things that
money cant buy.
First Buy
my first major art purchase, a work by Anjolie Ela Menon, at a gallery in Kolkata
Favourite Pieces
putting
Missed Opportunity
A piece that was out of my budget that I really wanted to have and which I didnt have
ultimately was an Amrita Shergill. This was
in 1986 or 1987. I took my dad with me
because it was beyond my budget. The
sum they were asking was five lakh rupees. My budget was two lakh rupees. After
negotiations, me going up, and them coming down, there was still a gap of `50,000. I
didnt get it.
january, 2015 u india today spice 49
collectors
Favourite Pieces
The modern masters, Tyeb Mehta, V.S. Gaitonde, S.H. Raza and F.N. Souza are the
artists whose works appeal the most to our
Whats in Store
Art Origins
Favourite Pieces
collectors
we are doing with it. I like to look at the
world through the eyes of art.
Acquisition Methodolgy
Favourite Pieces
Drawn to Art
Collecting Origins
Wish List
I would like to add a beautiful film by Sharon Lockhart and Luke Fowler. Paintings
of Heimo Zobernig, Michael Krebber and
Rosemarie Trockel. I collect vertically so
would like to follow up Shahryar Nashat.