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.
| S H Raza |
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| SH Raza had over US$ 15 million sold in 2010 and was the most
liquid artist last year. In 2010 Raza had 3 paintings selling in the top 10 most
expensive paintings ever sold in auctions and one of them included Saurashtra
which sold for over US$ 3 million. The artist started strong this year with a
few paintings selling at 2007 - 2008 levels (high for the artist)
but since July this year his prices have come down. In-fact there has been a 20%
drop in price since the first half of this year. This has resulted in the
average price of the artist remaining at the same level as last year. |
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| M F Husain |
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| MF Husain is one of the top 3 liquid artist this year. If one
looks at the graph and considers that one bought a painting in 2005, the price
would have gone up over 200% in 2007 which was the high point for this artist,
then the economic situation changed and 2010 was a low point for Husain. The
artist passed away this year and one saw his price go up slowly after that. the
change in average price from 2010 to 2011 has been almost 100%. This was clearly seen more than ever in his older paintings selling for record prices.
One expects Husains prices to go to new levels in the next 2 years. |
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| Tyeb Mehta |
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| Tyeb Mehta was the only artist who did not see a down
turn. Although there was a drop in 2007 due to limited supply Tyeb prices have
gone up slowly but from 2005 levels, one has seen a 140% increase in investment. He
is priced high due to limited supply and can be very liquid at the right price.
The next one year for this artist is expected to be slow and price levels have
now reached a high point. Long run artist is a hold and if any works come up in
the near future at a good price, one should buy. |
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| F N Souza |
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| FN Souza has been the 3 most liquid artist over the last
year. The artist went up the maximum compared to all the other modern artists and in
2007 had given the highest return of 400% as compared to 2005 price levels, the
value came down as quickly as they went up. 2011 has been seen as a better year
for the artist and compared to 2010 price levels paintings went up by 100%, but
like Raza and Husain the second half of this year has been slow. Price levels of
Souza are expected to pick up by the second half of 2012. |
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| Manjit Bawa |
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| Manjit Bawa comes in the decorative category The artist has a
very selective market and supply is very limited. 2011 saw a huge jump in
prices. Investment in the artist in 2005 would have seen a return over 200%. A
major part of this return has come in 2011. A sudden demand in paintings and
some outstanding quality of works coming up in auctions has resulted in this
huge price increase. Keeping auction prices in mind 2011 would be a great time
to sell Manjit bawa. One expects the artist to slow down and price levels to
plateau in the coming six months. |
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| Sakti Burman |
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| Sakti Burman is another decorative artist but his prices have
been in the negative. If one bought a painting by this artist in 2005 it would
have gone up 250% in one year and would have been the perfect time to sell. But
in 2007 the artist hosted 2 solo exhibitions resulting in an oversupply of
paintings. The artist's primary price is much higher than the secondary price
and it is better to buy the paintings in auctions as the prices are cheaper. The
artist is currently trading in the negative from 2005 price levels. One would
recommend to buy this artist. |
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| KG Subramanian |
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| The artist has not got a strong demand and is actually one of
the weak artists around. The high point was 2006 after which the artist
kept falling and is still going down. The artist has a very select demand and is
not a great investment. |
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| Badri Narayan |
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| Badri in recent times has gained demand in the
market, but has a select buyer base. His market hit a high point in 2008 where
his water colours were selling at record prices, but he was not one of the top
artists in India and the depth of his buyers was not very large the prices came
down as fast as they went up. Having said that the artist has made a faster
recovery than most and is considered a stable investment. 2011 saw a huge jump in Badri's
market. The average price jumped up in auctions by 160%, and still compared to
other artists of his level his paintings are undervalued and is expected to do better
next year. Recommend to buy Badri. |
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| Bikash Bhattacharya |
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| Bikash is regarded as the top realistic artist in Modern Indian
art. His paintings have a very limited supply but the high price increase was
due to a large Calcutta based art fund which was acquiring paintings between
2006 and 2007. Although the paintings were acquired at very high values and will
be difficult to sell right now, the fund has a long term view of 10 years. Bikash is
regarded as a good investment and it is a good time to buy his paintings at the
right price. |
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| J Swaminathan |
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| The market of this artist is not very stable. There are years
where paintings come up and do very well and then there were years where his
prices come down as well. Over the last 3 years Swami's market has seen 3 falls
which proves the market needs to become stable before one considers the artist
as a good investment. |
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| Akbar Padamsee |
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| Akbar Padamsee has seen his own ups and downs . 2010 saw a
recovery in price levels. He appears in select auctions and has limited demand.
The price of Akbar is expected to plateau next year. In the long run Akbar is
not a great investment, unless one can acquire an outstanding work as most of
the paintings are average in quality. |
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| Anjolie Ela Menon |
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| Anjolie's market has also seen its own ups and downs. The
artist has a strong buyer base but one can hardly find any important works by
this artist. Most of the works that come up for sale are small. The artist will
continue to be strong in years to come and one would recommend this artist as a
strong buy. |
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| Prabhakar Barwe |
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| Barwe has been weak since 2008. The market has fallen over 150%
in the last 3 years and is currently trading at a 90% negative to 2005 price
levels. It would be better to avoid buying Barwe for now. |
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| Paritosh Sen |
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| Partiosh Sen saw a huge jump in price levels in 2008, and
gave one of the top investment returns if acquired in 2005. Price of paintings at
that time were up 300% from 2005 but now are back to 2005 levels. There has been
a huge shift in his market and the next 2 years look slow for the artist. |
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| Manu Parekh |
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| One of the undervalued modern artists, Manu Parekh has seen
price levels back to 2005. He has good support in the market place and will
bounce back soon. One would recommend to buy Manu Parekh at these price levels. |
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| Krishen Khanna |
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| K Khanna saw a huge dip in price levels in 2009. But 2010 saw
price levels bounce back and 2011 has seen a stronger market. Given the last few
auctions in 2011, His market has actually been stronger in the second half of
2011. At this point one would recommend to buy this artist as he is very
undervalued. Price levels expected to be higher next year. |
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| Rameshwar Broota |
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| Broota has not seen a negative market. Over the last one year
price of Broota's paintings went up 100%. He has a very limited supply and a
much bigger demand. It is rare to find good works by this artist and so if one
can find a figurative black/white painting at the right price, would be a strong
buy. |
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| Paramjit Singh |
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Pramjit Singh is not one of the strong modern artists. His market has been slow
but the backing from a good gallery has kept his market alive. Having said that
he is still trading in the negative. His market has a strong demand in Delhi but
the rest of Indian is much less as awarness is not there.
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| Arpita Singh |
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Arpita Singh's has a very select market. Although her one painting in 2010 sold
at a record price in saffron was the 6th most expensive painting sold in Indian
art history, the average per square foot price for the artist is still trading
below 2005 levels. The artist has seen the best recorded prices in Christies and
saffronart. The private and primary market for the artist is way higher than
what the artist sells for in auctions. It is a very controlled market with
little supply which should be good for the artist but that has not reflected in
auctions. The market has not yet found mass support and is difficult to say how
long it would take. At this point the artist should be bought as the prices are
trading in auctions at a five year low. |
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| Arup Das |
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Arup Das is one of the most undervalued senior artists. 2011 saw the artist
market find mass support and price jumped over 100%. The artist is still very
undervalued and is considered a good buy. The artist has got mass demand from
Indians as the images painted are very popular and are from Indian myths. There
is very little supply in the market and thus looking at a five year time frame
the price will rise substantially. Currently the call on this artist would
be a buy. |
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| KM Adimoolam |
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A very popular artist in 2007, Adimoolam has seen a huge down fall since then.
The market for this artist is very selective and mostly popular in Indian
auctions. 2011 was the worst year for his market as prices were trading negative
to 2005 levels, but the last auction in saffron saw price levels bounce back and
as of now average price levels are a little higher that 2005. The right time to
sell this artist would have been 2007 and the collectors who acquired this
artist at that time will have to wait for the next bull run to see prices match
that level. Over all the artist is very undervalued but given the select buyer
base one will have to wait and watch how the artist finds support in 2012. |
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| VS Gaitonde |
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VS Gaitonde is regarded as the master of abstract art in India. He has painted
very limited canvas works and it is extremely difficult to find a good Gaitonde
in the market. If one had to look at the total number of canvas works that have
come up for sale in the last 6 years in auctions for this artist the number
would be below 35 works where as for some one like Husain and Souza the number
of works would beover 400 each. Having said that the artist is not collected by
every one and has managed only one work that has hit the top 30 list most
expensive paintings ever sold which was in 2006. Having said that the average
price of the artist was the highest is 2011. The artist still needs to find
support at these levels, but given the limited supply one would regard this
artist as a strong buy. |
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