How to start building an art collection
Subscribe to enjoy similar stories. Indian art is having a moment. The Hurun India Art List of 2024 recorded staggering sales for the top 50 artists from the country at ₹301 crore—a 19% increase from 2023.
Even the entry point for the top 10 artists rose from ₹1.99 crore in 2021 to ₹7.70 crore in 2024, close to a 300% increase. Art as an investment isn’t a new idea, but there seems to be a fresh infusion of interest, led by aspiring collectors in their 20s, 30s, and 40s. In a departure from convention, many are looking for art that is against the grain—diverse, digitally produced, carrying a value that isn’t merely measurable with money.
They are looking for personal stories that resonate with them. “A major shift happened during the covid-19 pandemic," says Dinesh Vazirani, co-founder of Saffronart, a leading auction house and gallery with offices in Mumbai, Delhi, London and New York. “Art is a knowledge product and a lot of people had the time to learn more about it during the lockdowns." As his business turns 25 this year, Vazirani has been witness to changing patterns of buying and selling.
“Today’s consumer is more educated about art. They aren’t just looking at the name, signature and size to make their purchase decisions," he adds. “They want to understand the artist’s journey and provenance." Two decades back, when Farah Siddiqui started out as an art adviser, it was difficult for her to find someone to design a functional website.
“Now you can buy and sell highly priced art online," she says. Along with art adviser Aqdas Tatli, Siddiqui put together major initiatives in India, including Elephant Parade in 2017. She founded Cultivate Art, a Mumbai-based space to bring together emerging artists and the next
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