8th Sept 2006

Jackpot for young artists
For the first time, works of new Indian contemporary artists have sold at astounding prices ' even touching a crore.

Indian contemporary art just got a major boost. For the first time, works of new Indian contemporary artists have sold at astounding prices ' even touching a crore.

The Saffronart auction saw bids on works of artists like Surendran Nair, Shibu Natesan, Subodh Gupta Anju Dodiya among others cross 50 lakhs. Surendran Nair emerged the new star, whose work crossed a crore.

An excited Dinesh Vazirani of the auction house says, "We are seeing several new trends. For one, definitely a new subset of young, aggressive buyers. The old collectors have been buying masters for a long time. Now, the young breed is buying the new, young artists who are the best. The art is bolder, young and fresh in comparison to the old art and reflects current lifestyles. We also saw a clear distinction between good and bad art."

Have over-all prices gone up? "Yes, for sure. Two years ago, 10 works of the masters sold at over a $ 1, 00,000. Today, we are seeing the same happening with the young artists."

He adds, "The market volatility will continue. This trend won't disappear, it's here to stay," says Vazirani.

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