Indian art market fared well in 2021

While several businesses were hit due to the pandemic, Art market was among a few which were not affected much due to the economic dishevel. Like others, the business of Art also went online, with online art exhibitions, auctions and art previews. It resulted in reduced cost and carbon footprint by eliminating costs of printing catalogues, invites, international air travel for art fairs and packaging and shipping cost for fairs, etc Also, going online proved blessing in disguise for the art world with millennials becoming the new customers for Art.

A sculpture of Lord Buddha by artist Swati PasariA piece titled Aurora by artist Akash ChoyalA piece titled Krishna by artist Akash Choyal

Choyals from Rajasthan, the three generation of artists who believe in striking a balance between the offline and online medium and have been actively tapping the online medium for their art, also did seemingly well this year.

“To understand the various nuances of the artwork and appreciate it, a physical display and exhibition of Art is very important and you can’t just do away with it. However, having a sizeable number of foreign art lovers, we do have our website running for more than a decade and have been showing online as well”, says Artist Akash Choyal, the youngest Choyal famous for his 3D illusion art and fibre glass sculptures.

“During the pandemic, being online certainly helped and added a new dimension to the Art. Even the gallerists and art curators are tapping the medium but certainly not doing away with the offline shows. Infact since mid 2021, physical shows are back and the artists and the art lovers and art collectors are seen indulging in it. The family of five artists, sold quite a few Artworks this year. Among their new art collectors were millennials, who are getting enthusiastic about the art as a viable investment option” Akash adds.

Swati Pasari, an artist from Kolkata saw a 15% growth in sales of her artwork in 2020 and 2021. The pandemic proved to be a blessing in disguise, as I ventured into the online space and could increase my sales. I participated in more than 5 exhibitions this year, both online and offline and is planning to continue my foray into the online exhibitions and art shows.

“As people spent more time in their homes due to lockdown, they invested in decorating their space by buying positive colourful artworks, this was one of the major reasons for the growth in Art market. Also, alongwith decorating their space, people wanted to bring in more positivity in their homes”, says Swati, a renowned artist in spiritual based art.

“During 2021, a year of challenges, despite the contraction of sales overall from the impact of covid-19, it was interesting to see the new trends of shopping of art. In-person events went down of course but online sales went up. Interest in culture increased in the lockdowns. Young collectors were the highest spenders with online platforms enhancing accessibility. Affordable art created at our studio by upcoming artists sold very easily, but Art collectors are waiting to buy the master›s art when studio is going to be a safer place for all of to meet personally”, says Bhavna Minocha, Delhi based Art curator and Founder of Art School & Gallery, The Art Hub.