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Affordable Indian Contemporary Art (Feb 22, 2007)
I, like many others around the world, have recently succumbed to the allure of Indian contemporary art (although a little to too late before the ongoing price surge). A non-NRI living in America’s heartland, I enjoy the paintings and works of western artists—Picasso, Van Gogh, Warhol, Pollock, Grant Wood, among others. Names such as Souza, Husain, Raza, and Gaitonde were unknown to me until about a year ago, when quite by fate, I was fortunate to have been introduced to these and other gifted artists from this country as well as the culture that inspired them. Art as unique and different than I have ever enjoyed, and a breath of fresh air from what I had known.
Because of financial limitations, my art collection consists of prints, posters, and less than masterpiece paintings—but now, because of my new infatuation for anything Indian, I would like to expand my horizons by including art that I have a developed new appreciation for and can display with pride without shelling out big bucks.
Watching prices at recent auctions and studying market trends, this goal may be possible. Drawing, sketches, and even watercolors by the masters may still be affordable, as are many works by second and third generation Indian artists.
I bookmark several auction sites and check them out regularly on the Web. Last fall Christie’s New York and Bonham’s London auctions sparked hope that works could be had on my budget. A Jamini Roy gouache on card could be purchased for four-figures, an untitled Souza pencil on paper for a mere $3,500 to $7,500—not too bad for an original from the controversial genius’ mind and hand, or a Krishen Khanna ink on paper for $12,000. Watercolors could also be considered, but at somewhat higher prices. An M. F. Husain untitled work sold for $36,000 and a Jogen Chowdhury for just over $50,000.
Another strategy I have been considering is buying Indian contemporary artists who are also firmly established, but perhaps less legendary. A month ago, at a sale at Dubai, a Ram Kumar ink on paper sold for $5,400, a Raza acrylic on paper for $26,000, an untitled (Head) Akbar Padamsee watercolor on paper for under $10,000, and two Avinash Chandra’s for $12,000 and $14,400 respectively.
According to my research, other artists seem to be appreciating nicely over the past few years; these include names like Shyamal Datta Ray, Ganesh Haloi, Sanjay Bhattacharjee, and Swaroop Mukhejee, among others. Obviously I would like to see my collection grow in value, but the overriding decision now is if I enjoy their style, technique, and/or subject matter.
Being new to this genre, I realize I have much to learn. My study has already alerted me to fakes in the market, how to properly care for the piece regardless of medium used, and investment strategies. I will keep doing my homework—in the meantime, if anyone has any ideas, suggestions, or advice for an Indian contemporary art collector neophyte like me, I’m open to responses. Thank you in advance.
Contributed by
Bill Grotts
Illinois, USA
