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The Global art market is 2011 was very strong. The most expensive painting ever
sold and a new world record for art was the Cezanne that sold for US$ 250
Million. More than 1600 paintings sold for more than US$ 1 Million. 43% of the
global art market sales took place in Asia. 12400 artists hit new personal
auction records. Thus overall the global art market was 20% stronger than 2010.
The Indian Modern Art Market has held on to its prices in the last quarter of 2011.
Two paintings were sold over 10 cr and three more were sold over 5 cr. The
upcoming march auction of Sothebys has a Raza with a lower estimate of US$ 1.5
million which will result in another Record for this artist. The second half of 2012 will see prices move in a strong and positive flow for the moderns and for the contemporary artists.
One will see many new younger artists hold strong ground in 2012 and this shall
result in a new following among collectors for these artists. Husain, Raza and Souza are looking the strongest in 2012. Other artists to look out for are R Broota, Manjit Bawa, Anjolie Ela Menon, Bikash Bhattacharjee and Badri Narayan. Tyeb is not expected to go up as last year saw a huge jump in price levels.
Ram Kumar is the artist to currently buy as he is very undervalued as compared
to the other masters. The market will be much stronger from March onwards.
Tushar Sethi
Director :TheArtsTrust.com
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