Thinking of investing in property in Mumbai? Here’s why you should invest in art instead
Being a part of the art world is not only about being an artist. I have realised that every day is a learning experience even after being an artist for over 10 years in the industry.
Recently, I had the opportunity to attend an auction in in the city and it made me realise about how people beyond the art world do not really look at art beyond the frame.
Every year, World Art Day is observed on April 15 to honour the contributions of artists and promote the importance of art in our lives. Interestingly, the theme for 2024 is ‘Garden of Expression: Cultivating Community through Art’ and it got me thinking about the growing need to create a community not only for artists but also those who appreciate art by buying it. It is not only to beautify their personal and office spaces but also as an investment in the years to come.
 |
| Somnath Hore's 1962 untitled painting. Once unsold for Rs. 5 lacs, his piece was auctioned upwards of Rs. 25 lacs in 2024. |
Why you should invest in art
I firmly believe that it gives you perspective and whoever you are, art gives you that unique way to look at life to apply to your work or even yourself, and it helps you evolve in a better way. It is also why I believe art should be a part of every household and everybody should have some possession of art which should be meaningful, close to their heart, or it can be an investment too.
With my evolution as an artist over the years, I have seen how art is a wonderful avenue for people to invest in beyond its beauty. If you think about it, when we talk about investments, we make a very diversified portfolio. You invest in land, gold, shares and equity, among other things, so that you can get returns and there is a risk minimisation.
If there are so many different avenues from which we can get returns, art is also a market that is highly unexplored. Apart from personally having invested in art, I have friends who invested in art 30 years ago, and now the value has gone into many crores. It is the perfect example of the kind of returns you get by investing in art. I have seen works by MF Hussain’s as an artist and a student, and seen how it has grown over the years.
While talking about art, it is not only the appreciation or depreciation of the artwork but also the tangible value that makes it a good investment. You are not only able to feel it but also see it in your home or office every day, and appreciate it in more than one way, and it doing that it brings you happiness.
 |
| 91-year-old Himmat Shah's works compriseof self-mocking elements, speaking of age and decay and are some of the most auctioned-off pieces in the world. |
Allocating funds for art
The best thing about buying artworks is that they are even more feasible to buy than land. So, why not keep a small portion of our portfolio to art if your bank account allows you to do that?
Interestingly, you do not need to have a lot of money to buy art. You will find art that is Rs 10,000 or Rs 20,000 and that can be bought and you can start there.
Investing in art is important but I believe it is also important to address the elephant in the room. I have observed that the art world is not democratised and usually has a very closed-group behaviour that needs to open to more people.
If there are more investors that come in art, then more artists will get added to the portfolio of auction houses. In the process, it will give ultimate growth to the art world. Once you enter into it, eventually you will end up investing in small as well as big art.
 |
I believe we need to cater to those people who have the money but don't know how to invest their money in the art market. If you show people art with high value, then you will be able to show them the value of the art that they should purchase. I was once told by a gallerist, "Invest in this art, sell it after a few years, and buy a house with it." So, when are you buying your first piece of art?
Comments
Post a Comment