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THE ART MARKET IS BOOMING AGAIN AS ART HAS TOPPED THE TABLE OF LUXURY INVESTMENTS IN Q2CY23, PER KNIGHT FRANK. A LOOK AT THE SPACE

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VISITORS AT THE INDIA ART FAIR 2022 (Photo by BANDEEP SINGH) VISITORS AT THE INDIA ART FAIR 2022 (Photo by BANDEEP SINGH)
SUMMARY
  • RS 1,145.5 CRORE: Total turnover of the Indian art market in FY23 through the sale of 3,833 artworks, a growth of 9 per cent YoY
  • 42 PER CENT: Share of artworks sold in FY23 that fetched higher prices than estimated, demonstrating strong demand
  • RS 51.75 CRORE: The winning bid for ‘Gestation’ by S.H. Raza at an auction on August 31, making it the most expensive Indian artwork sold at an auction
  • 90.4 PER CENT: The share of artworks bought by patrons against the total number of pieces (4,240) auctioned in FY23

THE ART MARKET IS BOOMING AGAIN AS ART HAS TOPPED THE TABLE OF LUXURY INVESTMENTS IN Q2CY23, PER KNIGHT FRANK. A LOOK AT THE SPACE

SOURCE INDIAN ART INVESTOR, GRANT THORNTON

Published on: Oct 17, 2023, 12:01 PM IST
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