Market Analysis - Contemporary Graph

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Contemporary Art

Note: The graphs have been illustrated after tracking auction prices from all domestic and international auctions and secondary market records to give an approx price movement of these artist over the given period. Some analysis are followed by recomendations and forecasts for the artist in question - these are the opinions of the analyst.

Atul Dodiya

Atul Dodiya has seen a huge drop in price levels. He was one of the top artists of the country but weak works in 2 solo exhibitions at Bodhi resulted in a huge drop in market demand. 2010 saw a low point for the artist at a negative 70% from 2006 price levels. One expected 2011 to be better for the artist and it was but not good enough as prices did recover from 2010 and one saw paintings selling at unexpected levels it has still not reached 2006 levels. Now with the market weak for artists like Atul, one expects 2012 to see another down fall and price levels go back down again to 2010 levels. One would avoid Atul Dodiya at this time, in fact sell this artist to buy something that would give a better return.

Thukral & Tagra

Thukral & Tagra as compared to most Indian contemporary artists have had a strong run over the last few years. 2008 was their high point where within 2 years their price levels went up 450% but the global economic problem affected their auction prices which went back to 2006 levels. Unlike most contemporary artists their price levels remained positive and they are currently over 60% positive as compared to their 2006 auction prices

Subodh Gupta

Subodh came into the Indian art world late and very quickly created a good name internationally. His high point was when one of his paintings sold for over 6 cr in an auction and in 2008, almost every painting at that time was selling for one million dollars. But that was a great time to sell as the artist has a very select market and his images are not very innovative. Thus if one bought a painting of Subodh it would be difficult to buy another one as most of them look the same. He was mostly picked up by international collectors in 2007 / 2008 and now they all want to sell. It would be mostly impossiable for his paintings to come back to 2008 price levels as he has still not even become stable. One has seen a price drop from US$ 1 Mil to US$ 150,000 and is still not finding buying support, thus is expected to go down further. One would recommend to stay away from this artist for now.

Baiju Parthan

One of the most innovative and smart artist, Baiju's market in auctions was actually at a high point in 2006 and went downhill from there. If one bought a painting by Baiju in 2006 from an auction one would be down 80% on the invested amount. Currently a weak market, Baiju has strong gallery support and will bounce back in the year to come.

Riyas Komu

Riyas Komu like most established contemporary artist is also performing in the negative with price down over 60% from 2006. Again one of those artist who one cannot collect in depth as most of his paintings have similar images and if one buys one work, it is difficult to buy another. The artist is expected to find it hard to recover as of now. The artist had no market support in 2011 and will continue to fall in 2012. One would recommend to sell this artist and stay out, as there are many sellers currently waiting on the side lines to get out of his work.

Viraj Naik

One of the most innovative artists to enter the market place, Viraj Naik has had a good track record. If one acquired his paintings in 2006, the up side would have been 300%. The artist is working with Pundole. The artist has a strong buyer base and saw heavy bidding in auctions in 2011. Although a late entry in the auction market, Viraj is still undervalued and will find support at higher levels in 2012. Recommended to be a strong buy as the artist is expected to do better in the second half of 2012.

Bose Krishnamachari

Bose is one of the most talented artists in the contemporary segment but support from his collectors has been less due to an oversupply of works. Although he is one of the few artists who has started going back up in value, investment return is still in the negative over the last few years.

Shibu Natesan

Shibu is one of the weak artists in the market right now. His solo show in New York a few years ago where his paintings were priced very high resulted in an exhibition that did not do well. Paintings from the same exhibition a few years later did not sell at one forth the price. Thus like most contemporary artists Shibu's market crashed due to over pricing of works. His market is still slow and has not found support at these low levels.

Abir Karmakar

Abir has created a good signature style and name at a young age. He works with a good gallery and has found support in auctions better than most contemporary artists. If one acquired his painting in 2006, one would have seen an increase of 250% by 2009 and after the crash he is still trading positive. Investment return in his paintings is around 100% over the last few years.

A Shahabuddin

Shahabuddin, one of the top artists from Bangladesh. He has a strong global collector base. His prices as compared to 2006 are now 55% in the positive. Still underpriced as compared to most contemporary artists his age, he is expected to be a good investment in the future.

Shilpa Gupta

Shilpa was regarded as one of the top new media artists in 2007 and 2008. A market that exploded very fast, Shilpa Gupta's photographs went up in price over 350% within 2 years but they came down as quickly and currently her price levels are in the negative as compared to 2006 prices. The photography market in India is extreemly weak and a lot of investors have lost mobey buying Shilpa's works. One would recommend to stay out of this artist as there are a lot of investors who want to sell her works.

Anju Dodiya

Anju Dodiya was one of the most wanted artists in 2006, when she exhibited in Bodhi art gallery. The markets took a turn for her as well, with prices going down and today her market is down 50% from 2006. Anju is weak and her market will remain slow for the near future.

Arpana Caur

Arpana Caur was one of the wanted artists in 2006. Her market was strong but suddenly prices started coming down and the next few years were slow, with very few paintings coming in auctions. 2011 found support for the artist at higher levels and market price bounced back in the green. The artist is up over 10% as compared to 2006 price levels.

GR Iranna

Iranna saw a high point in 2006. Price levels came down the following years with little support form his collectors. His primary market although trading at much higher levels could not impact the secondary market in the same manner. Although 2011 has found support for the artist, his market is still trading in the negative as compared to 2006.

Jitish Kallat

Jitish Kallat has seen outstanding support in auctions this year. He is one of the only contemporary artists to hold a strong price in auctions. His worst auctions have been in saffron- with many paintings going unsold and his best has been in Christies - as paintings touched new record points. The average price still very - went up 120% this year. Jitish acquired in 2006 would have given a return of 200% till date. The artist will continue to do well over the next year.

Justin Ponmany

Justin was one of the most innovative artist in 2006. Price climbed 150% by 2008 and then came down very fast as international support slowed down for this artist. He is currently trading in the negative but is expected to bounce back by the second half of 2012. Justins is a buy at this time.

Paresh Maity

Paresh hardly is seen in auctions. His paintings have a mass market many collectors get attracted to his works very fast. He has a strong collector base all over India and this has reflected in his market as well. A painting of Paresh bought in 2006 has gone up almost 100% till date.

TV Santhosh

TV was one of the hot artists in 2007 and was regarded as the 3rd most important artist at that time. His painting price went up almost 300% from 2006 to 2008 and was collected in a big manner by International collectors. A slowdown from International buyers resulted in a dip in his market. Currently only giving a little shy of 50% return over the 5 year period. He has a very controlled market and would be regarded as a good buy.

Chintan Upadhay

Chintan has a very controlled market but still like most contemporary did not manage to remain in the green. His move from one gallery to another in order to capture a larger market worked for him as far as sales go but as far as his market was concerned it created supply reducing demand that resulted in price taking a hit. He is currently trading 25% in the negative as compared to 2006 price level. Having said that he has mass demand and will come back stronger than most artists.

Ravinder Reddy

Reddy was one of the strongest artists with very limited supply and a great following from both international and local people his price went up 150% in two years. 2008 saw international demand for the artist slow down resulting in price level in auctions going back to 2006 levels. His biggest mistake is that his primary price is much higher than his secondary market price which has resulted in a major slow down in his market. The artist is popular but at this time he is over priced as compared to the demand.

Sujata Bajaj

Sujata Bajaj is one of the few artist in the contemporary market that has seen price levels not fall as the rest of them. The artist has found stable support at these price levels. The return on this artist if held for 5 years would have been a little over 20% which is very low but at least like many other established contemporary artists has not fallen in value. Although this might be true the artist has a very limited demand and the next few years will see this artist have a slow fall in price. One would not regard this artist as a buy, in fact it would be ok to sell this artist and invest into something that would manage to give a better return.

Jayashree Chakravati

Regarded as a very strong artist in 2006, which happen to be the high point for this artist, currently should not be touched. The artist has a very poor market and price levels have fallen 90% since 2006. And even after trading at one tenth the price levels of 2006 the artist has works still going unsold in auctions. At this point one should stay away from this artist, until her market finds support in auctions.

Yashwant Deshmukh

Yashwant was one of the hot upcoming artists in 2008. A strong gallery and good auction record along with limited supply resulted in mass demand for this artist. But the down turn in 2008 saw his gallery go out of focus and the market for this artist also took a down turn. The artist since then has not tied up with a particular gallery and has not had any major shows. The artist still needs to find bottom support and is currently trading at an all time low.

Anu Agarwal

A young strong artist has a limited supply and a limited auction market so far. The average price has gone up over 200% in the last 5 years but this is only because in 2006 the artist just entered the market. Still a very young artist is expected to do well given the limited supply. The artist this year will published a book based on her experiences. The artist still needs international support but given the current support she is expected to do well in the future.