Here are five pointers from experts that can help you make a smart buy:
Visit galleries
There is no shortcut to buying good art. One must hop into different galleries and see the collection for oneself. Almost every gallery will try to push their artists. And if the same artist is being featured in, say four out of the five galleries you visit, it means that he or she is in demand, and active in the art market.
Keep your eye on the ball
Go through magazines like Take on Art , ART India , and more, to get an idea; and keep an eye out for which artists’ works are being auctioned (at Christie’s, Sotheby’s, Bid & Hammer, Pundoles, Saffronart).
Don’t restrict it to those in your city. Of the top 50 artists in India, there are just two from Chennai. 90 per cent of the art market is dominated by just a bunch of 10 artists which include names like M.F. Hussain, S.H. Raza, F.N. Souza and more.
Research about the artist
Any artist with a history, or who is senior and has been written about a lot, is of value.
For example, works of KCS Panicker, who started the Progressive Painters’ Association, still come up in auctions, and sell for around Rs. 15 lakh. Or Douglas, who is part of the Cholamandal Artists’ Village and has exhibited internationally, contributed to National museums, and doesn’t come up with many works in a year. His work ranges from Rs. 12 to 15 lakh.
Go for top quality
There are no red corner sales or discounts when it comes to art. So, if you are getting a Hussain for one lakh, it would be because it is a scribble on the back of a paper. A good four-feet by four-feet work of a horse, done by Hussain in the 60s would be nothing less than a crore and a half. If you have two crore rupees, instead of buying 200 paintings, go for three. Unless it is a blue chip, it is not really an investment.
Buy what you can live with
Avoid herd mentality. When you are buying an art, it’s a long-term commitment. You cannot get rid of it even if you want to. Mostly because there are not many reselling platforms (a few of them are Mojarto.com, eBay, Art Rehome).
Look for artworks that speak to you.
