Indian artists can live on art alone as market booms (New Kerala)- About: wood easel
The trend has its roots in skyrocketing prices of Indian art, wider appreciation of artists and their creations, recognition of art as a career choice, mushrooming galleries and promotion of Indian art abroad by the spate of global exhibitions and auctions and increased purchasing power of the Indian middle and upper classes, who are now investing more in art as an important home accessory than in jewellery as was the trend 10 years ago. For instance, leading contemporary artist Subodh Gupta’s “Saat Samundar Paar VII”, a painting from the artist’s 2003 series, is priced at $700,000 at the Sotheby’s summer sale of Indian contemporary art in New York May 17-19. Contemporary artists have contributed to pushing up the prices of Indian art - of both old timers and the new age artists - courtesy the kind of hype their work generates in international shows. There is a renewed demand for Indian art in both the domestic and global market, a trend that has proved to be a windfall for artists. Varma, a skilled painter and sculptor himself, attributes the hike in prices to the economic buoyancy and a wider appreciation for Indian art and artists alike.
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