Modern art in demand

Source – ET.com

Although, art prices of both modern and contemporary artists have fallen substantially in the last few months, it appears that the demand for certain modern artists continues to rule the market. Most buyers look for specific artists when they scout the market to make an investment in art, and a majority of them look for artists that form the biggest brands. The reason behind the trend is that as the demand for these artists does not follow seasonal changes, it is easier to resell their works. Most of these modern artists have been a part of numerous international auctions and their works have reached a stable graph both in terms of quality and pricing. Recently too, it was noticed that at auctions held here and abroad, the modern artists were much more in demand compared to the contemporary artists. Collectors who own works by the top-most segment of modern artists are happy to wait out the recessionary period as they are sure that prices will go up in the future. Or, when approached by prospective clients the sale figures they quote remain on the higher side. This is yet another instance where the seller dictates terms. In fact, negotiations, if held, are minimal. Still, one can see that buyers are not on a wild spending spree, images are carefully evaluated before the sale actually happens. It also implies that awareness about art and its pitfalls has percolated extensively and made the buyer more discerning. This single factor alone will help the art market immensely. After all, when buyers demand quality, the artist and the dealer will have no option but to comply. The demand for modern artists may persist for some time as the buyers continue to play safe, but soon, when the market begins to revive at a faster rate, and there is lot more liquidity to play around with, interest in contemporary art is likely to shoot up again.

About visionsart

Visions Art is a premium gallery for Modern and Contemporary Art. Established in 2001 in Mumbai, advising private and corporate collectors on predominantly Indian Contemporary Art. Since 2003, the gallery opened up its new space in heart of south Mumbai, India. The permanent gallery space is designed as a private art space where both changing and its permanent collections are shown. The gallery’s program draws upon a diverse range of disciplines and intellectual perspectives while maintaining a clear progressive thread. Supporting mid-career and historic figures, as well as launching emerging artists. The gallery represents works by artists who are considered to be at the forefront of Indian contemporary art and is constantly looking to establish a roster of the more progressive artists from India and abroad. Indianartnews.info is a news post blog providing a viewers updates on the latest news and events related to indian art from across the world

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