Not For The Faint O'art 1

By Super

Tuesday, May 22, 2012, 16:59

Is art here to stay?

For the businesspersons who are looking at this upsurge as an opportunity to make quick bucks the fear of the bursting of the art bubble can be daunting. Backed up by the fact that reselling of art has found a genuine popularity worldwide, auction houses are literally running full house. "The herd mentality may drive many others to buy, but buying intelligently will ensure the results of a well-sprouted effort", feels noted city painter Suryaprakash. He also is of the opinion that there is room for all kinds of artists and art in the scenario now. A dexterous effort will have far reaching effects than simply the basics.

The condition of the painting is of prime importance when it is considered for resale. For obtaining the best value, the painting should be in its original condition.

The painting should have the ability to transcend various trends and be timeless. One on a specific era or topic will be dictated by the trends on the market. Therefore take your time and imbibe the art deal before making a purchase.

Every painting of importance (especially if the artist is famous) will be critiqued and given media coverage. It is better to go beyond the criticism and aesthetics. It is also important to understand why the painting is drawing so much attention before cracking the deal.

If a painting is resold for a higher amount, it is likely to attract attention of tax authorities. Now that VAT (or service tax/charges) is applicable, calculate the amount to the basic value and see the worth of the painting.

Investing in art is an emotional decision at one level. A little consultation, assistance from art friends is advisable if you are buying several paintings of various artists to invest in.

All famous artists don"t sell all nor do all budding painters get their works rejected. A combination works best!

Rekha Lahoti talks of three rings of artists on the scene now in India. The top rung consists of artists like M.F.Hussain, Jogen Chowdhury, Ganesh Pai and Ramkumar. The second rung of artists is Jehangir Jehani, Ashok Mallik and Rajeshwar Rao. The third rung is that of the upcoming and new artists. Alongside sculptors have also risen in popularity. Riding the high wave today are Binod Taroz, Sivaramachari and Hariprasad. Mr Lahoti says, "The investment made in art constitutes vast amounts and therefore the choice should be made very carefully, it is akin to buying property or jewellery. So having a strong conviction in what you choose to buy is desirable." Investing in fake art cannot only cause bitterness but also is a potential cause for heartburn. It is definitely not for the faint hearted. So invest wisely and think smartly. World over the hues of color are fast replacing the monochrome ricochet of the share market. The result is similarly far-fetching and yes, dazzling.

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Article Published On: Tuesday, May 22, 2012, 16:59 [IST]

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