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
AtulDodiya 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. After showing signs of recovery in 2011, price levels of the artist has taken another tumble with 2013 figures dropping as low as negative 61% in comparison with the 2006 prices. Although his 2014 figures were a slight improvement it still languished 48% below the 2006 prices. Oninvestmentside one would stay on side of caution and wait until his rates show a sign of recovery in some of his upcoming exhibitions.
Atul Dodiya
Thukral & Tagra
Thukral&Tagra as compared to most Indian contemporary artists have had a strong run over the last few years. Unlike most contemporary artists their price levels remained positive even during 2008 andhit their high point in 2012 when price levels went over 250%. However, 2014 has seen a drop in their price levels but they still are over 130% in positive to their 2006 auction prices. One envisions them to continue their positive growth rate in the foreseeable future.
Thukral & Tagra
Subodh Gupta
Subodh came into the Indian art world late and very quickly created a good nameinternationally. 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 practically impossible for his paintings to come back to 2008 price levels. One has seen a price drop from US$ 1 Mil to US$ 150,000 and is still not finding buying support. Although his prices did see a positive growth of above 140% in 2012, the 2014 figures fell again and is expected to go down further. One would recommend to stay away from this artist for now.
Subodh Gupta
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. However in 2013 his price levels saw a jump, ending the year at 20% in positive to his 2006 figures. In 2014 the artist witnessed a sudden slump in the prices but that is down to the number of canvas works (high value) presented this year which stood at two. The artist’sprice is expected to receive positive support from the market and is expected to pick-up in 2015.
Biju Parthan
Riyas Komu
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 had no market support in 2011 and continued to fall in 2014. RiyasKomu like most established contemporary artist is also performing in the negative with price down to negative 64% from 2006. The artist is expected to find it hard to recover as of now. 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.
Riyas Komu
Viraj Naik
One of the most innovative artists to enter the market place, VirajNaik has had a good track record. If one acquired his paintings in 2006, the up side would have been 300% in 2011. The artist is working with Pundole. The artist has a strong buyer base and saw his price levels sore to a close to positive 900% in 2013. After such a surge there was an imminent slump in the pricing in 2014. Although a late entry in the auction market, Viraj is still undervalued and will find support at higher levels in 2015.
Viraj Naik
Bose Krishnamachari
Bose is one of the most talented artist 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 started going back up in value (from negative 70% in 2010 to negative 17% in 2013), investment return is still in the negative over the last few years. But one feels Bose will be back in the positive in 2015-2016 and one recommends Bose at these price levels.
Bose Krishnamachari
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. Although his price levels have seen a slight improvement in 2014, his market is still slow and has not found support at these low levels. One strongly recommends to stay clear of this artist for now.
Shibu Natesan
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. Up until 2012 he traded in positive. However, in 2014 his prices have recorded a great slum and have ended the year at negative 44%. What this artist needs is an exhibition to prove the market his worth and become strong in order to build a healthy buyer base.
Abhir Karmakar
A Shahabuddin
Shahabuddin, one of the top artists from Bangladesh. He has a strong global collector base. His current prices are at a similar level to his 2006 figures. Still underpriced as compared to most contemporary artists his age, he is expected to be a good investment in the future.
A Shahabuddin
Anju Dodiya
 
AnjuDodiya 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. However, she is still considered a very talented artist and is expected to bounce back in near future.
Anju Dodiya
Arpana Caur
ArpanaCaur 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 came in auctions. 2011 found support for the artist at higher levels and market price bounced back in the green. Although 2013 has seen the artist price go in the negative compared to 2006 figures, she is expected to pick up very soon.
Arpana Caur
GR Iranna
Iranna saw a high point in 2006. Price levels came down the following years with little support from his collectors. His primary market although trading at much higher levels could not impact the secondary market in the same manner. The artist witnessed good support in 2013 and 2014 and is expected to continue an upward growth with 2015 being the year when the artist is expected to trade in the positive compared to the 2006 price level.
GR Iranna
Jitish Kallat
JitishKallat has seen outstanding support in auctions this year. His best has been in Christies - as paintings touched new record point. However one believes the price levels have reached its peak and is expected to crash down in the coming years.
Jitish Kallat
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 and his future seems to be unclear. Thus, one recommends a “wait and watch” approach with this artist.
Justin Ponmany
Paresh Maity
A Padma Shree accolade, PareshMaity has done 69 Solo Exhibitions in thirty five years. He gradually moved from atmospheric scenery to representations of the human form. His more recent paintings are bold and graphic, with a strong color. His works are in a number of collections, including the British Museum, and the National Gallery of Modern Art, New Delhi. Paresh hardly is seen in auctions. His paintings have a mass market appeal and many collectors get attracted to his works very fast. He has a strong collector base all over India and this is reflected in his market too. A painting of Paresh bought in 2006 has gone up almost 100% till date. The market is expected to be stable and maintain itself at this range in the foreseeable future.
Paresh Maity
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 return ofaround 30% in 2014. He has a very controlled market and would be regarded as a good buy.
TV Santhosh
Chintan Upadhay
Chintan’s market peaked in 2007, increasing over a 100% from its base year of 2006. His market has then continuously dipped until 2012, stabilizing in 2013 and marking a recovery in 2014. His market jumped by 50% with the sales with a big sale at Saffronart, New Breed for Rs.8.4 lakhs. His market will stabilize in the next few years to fluctuate once again thereafter.
Chintan Upadhay
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. Although 2012 proved she wasn’t immune to a slow down. Although 2013 witnessed a great recovery from the artist as the price level reached nearly 80% in comparison to her 2006 figures, 2014 once again proved a little challenging for the artist. However, the market is expected to continue its positive support for this artist in the near future.
Sujata Bajaj
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.
Jayashree Chakravati
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.
Yashwant Deshmukh
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 publish 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.
Anu Agarwal
Ravinder Reddy
Reddy’s sculptures have had great demand internationally, demanding high prices. In 2007 Reddy’s heads were gaining popularity around the East, especially China, increasing their average values. 2008 market crash crippled this international demand while in 2009 no lots came to auction. Reddy has been struggling to regain his momentum before the crash and command higher values. 2015-2016 one should stay clear of Reddy’s works.
Ravinder Reddy
Bharti Kher
With great support and patronage from international collectors, Bharti has seen a great increase in demand and aggregate price values since her showcases globally in 2008. 2009 saw an increase of 80% only to drop with the same magnitude, due to the bust in the art market worldwide. With fewer exhibitions and lots coming to auction and demand mainly for her sculptures, her performance has been rather stagnant. With her quality works still in high demand, increasingly more in the sub-continent, Kher’s prices remain sluggish. In 2013 her canvas work Landscape (2007) sold at Christie’s, New York for Rs.1.6 crores, the highest achieved for the artist in the year. She is currently ranked at 102 on the Top 500 contemporary artists of 2013 and 10091 on the global artists list for 2014.
Bharti Kher
Sudarshan Shetty
Shetty’s paperworks have had an auction history since 2005. His highest average prices were achieved in 2014 increasing performance by 120-140%. 2009 was the second strongest point for his market after which it dropped 100% due to no lots being offered in 2012. 2013 saw a higher level than 2010, commanding higher average prices. 2014 saw his market accelerate with the sale of only two lots. The market for his paperworks is gaining momentum once again.
Sudarshan Shetty
Mithu Sen
With no lots being sold at auction 2005-2006, Mithu Sen has had a sluggish beginning to her auction career of her waterworks being reflected in the graph. 2008 saw a huge increase in the number of lots being sold at auction but at modest prices. Uptil 2012 the number of lots offered for sale and their aggregate value has been declining. 2013 saw a slight increase in average prices while 2014 marked another fall of 20%. The near future does not hold any bright prospects for Sen with her market continuously dropping.
Mithu Sen
Jagannath Panda
Panda experienced acceleration in performance by 20% in 2008 with increased number of lots coming to auction. With the crash in the art market in 2008-09, only five lots came to auction demanding meagre prices. Though the graph reflects a substantial increase in 2012, this is due to only one lot being sold at a high value. 2014 reflected a 20% decrease in performance while 2013 reflected a 120% decrease. Panda is recovering from his past performances with 2015 entailing positive prospects for the artist.
Jagannath Panda
Dhananjay singh
Singh’s market has greatly fluctuated since the beginning of his auction presence back in 2008. Hit hard by the global recession, his market prices started very low by 2009 saw a rise in his average price followed by a negative growth in 2010. The following year saw his performance peak, appreciating nearly 200% with increased number of good quality paper works being sold. However, dipping yet again in 2012 due to lack of lots at auction. His market has been gaining strength once more, with paper works achieving much higher average prices in 2014. A positive outlook is predicted for the artist in 2015-2016.
Dhananjay singh
Neeraj Goswami
Goswami’s market has been performing poorly ever since its onset. 2008 saw many lots offered being bought-in due to which his market fell by 30% and continued performing at that level until 2010. 2011-2013 saw a stable market level though still lingering on the negative side and in 2014 it fell sharply again to a negative 41%. Looking at his market, he is an artist to stay clear of in 2015-2016.
Neeraj Goswami
ArunKumar HG
ArunKumar’s sculptures have been seen at auction since 2008. With less than 10 lots being sold in the past three years and only offered by Saffronart, his market has been very sluggish. Falling to his 2009 level, he has not been able to recover for the global market downturn. 2013 had no lots to offer while 2011-2012 had an average of 6 lots being offered. 2014 recorded no sales. Though wider audiences are now recognizing his sculptures and his works, his market is yet to pick up and receive the long needed push its awaiting in 2015.
ArunKumar HG
Ashwim Purkayastha
Purkayastha has had a brief auction history, beginning in 2006. His market has gained momentum in 2006 with average prices increasing in the next three years but the number of lots being offered has dwindled. 2010, 2011 and 2013 recorded no auction sales for the artist as those which were offered were all bought in. 2014 recorded one sale but average prices plummeted. With such grave fluctuations and questionable quality of the works, future expectations from the artist are low. He’s most certainly an artist to stay clear from in 2015.
Ashwim Purkayastha
Sunil Gawde
With a number of exhibitions under his belt Sunil Gawde witnessed his market achieve its peak in 2008 when it soared above 60% in comparison to its 2006 price level. However the artist wasn’t immune to the global crash and since then has struggled to lift his market price levelin positive. Currently he trades at nearly 80% below his 2006 figures and has an unclear future. Thus, one recommends a “wait and watch” approach to this artist.
Sunil Gawde
Tushar Joag
After great exposure in numerous exhibitions across different continents in 2007 Tushar Joag’s market price levels saw an incredible boom in 2008 compared to his 2006 figures. However, like many his market shrunk drastically after the global cash. Although the artist has managed to maintain positive price level in comparison to 2006, one expectshis market to continue a downward trend in the foreseeable future.
Tushar Joag
Rashid Rana
With his ability to touch on everyday issues ranging from urbanization and popular culture to faith and tradition, Rashid Rana rose to fame in 2008 with his market soaring to a mind boggling 564% compared to his 2006 price level. However, like many other contemporary artists after the great global crash Rashid continued to see a downward trend. Although his prices currently match his 2006 figures, his recognition worldwide is growing. With increasing exhibitions globally and increased media exposure, his prices might gradually reach their 2011 levels soon. His highest sale achieved in 2013 was for Red Carpet-2 selling at Sotheby’s New York for Rs. 76 lakhs while Red Carpet 3 fetched Rs. 7 lakhs at Sotheby’s London in 2014.
Rashid Rana
K. P. Reji
K. P. Reji created artworks that explored the connection between psychological states of mind and socio-political behavior. His works unfortunately have not gained buyers confidence and has struggled to maintain a stable price line since 2006. Currently trading 90% below his 2006 price level he is not expected to grow anytime in the foreseeable future and hence is not worth investing for now.
K. P. Reji
Nataraj Sharma
Nataraj Sharma was one among few artists who managed to sustain their price level during the global crisis. Although, the price did drop dramatically in 2011 (32% below 2006 price level) and continued to be poor in 2012. This trend did seem to have been broken as his 2013 price levels, although marginally, went higher than his 2006 figures. However, 2014 saw a dramatic drop in his auction prices owing to the number of canvas works presented that year (one). It is expects the artist will recover well and continue on the path of ascendancy through 2015 and beyond.
Nataraj Sharma
Prajwal Chowdhury
Prajwal Chowdhury is fairly new in the contemporary market and going by the limited information available on the artist he has proven to have made an immediate impact in the market. Compared to his 2009 figures, both 2012 and 2013 registered an exponential growth in the price level of the artist. 2014 on the other hand saw the prices of the artist drop slightly. However, with great exposure received in exhibitions and expected backing of collectors and buyers alike Prajwal Chowdhury is expected to grow in the market in the near future.
Prajwal Chowdhury