The business of art and the craft behind it

The recent exhibition of works by acclaimed "Master" painters of India in the city, and Saffronart's upcoming online auction of "99 Modern paper works" by Master painters, including those that belonged to the legendary Progressive Artists Group, are indications of the flurry of activity within an area of acquisition that has proven its worth as "trade-able" and "profitable".

Serious collectors, however, are likely to go beyond the short term and look at such acquisitions from the historical and a long term, legacy and collection building perspective. Buying the work of acknowledged Modernist Masters such as MF Husain or Akbar Padamsee, to name just two, is akin to acquiring a slice of history.

The intangible pleasures of such works are many; these often outweigh tangible benefits such as price appreciation and decoration. The auction catalog which details why these artists are viewed in shining light is itself a valuable resource worth viewing. 

My own tiny little collection of drawings by Master painters brings me a surfeit of delights each time I glance at them. A 1967 drawing by MF Husain reveals the surety of stroke, the decisiveness of line and the lyricism of subject.

The drawing appears suspended in a moment, leading the eye towards reverie and epiphany. The journey towards the discovery of what makes a Master's work great, is an important and pleasurable fall-out. One looks and sees, to view the unseen; that which is always in a form of "becoming": the elements that come together to make a work of art great.

And 180 degrees across this sort of experience there is the conundrum of the market and its complex vagaries. The point is that even as media pundits and trend watchers in the art/business arena predict upward movements, it becomes important to remain bullish about art, than just its monetary appreciation.

The key lies in understanding motivations, both your own and the market's. Schemes like "buy back guarantees" etc are for sitting ducks, people who are not confident about their own choices and easily swayed by canny marketing.

Would Bose Corporation, to take one random example, ever offer to buy back its superlative equipment?  It doesn't need to provide assurances, given it has proven itself globally on the strength of quality. Its clientele is discreet, well-travelled, learned and fully aware of the price one pays for quality.

Yes, the market for Modern and Contemporary Indian art is on an upswing in the domestic arena. Yes, it's a good idea to acquire art by well-known artists, as it is to support young artists. But it's also imperative to invest in what you can love and live with. Only then will it stand beside you for the long haul. Good art will always hold its own.

The author is a published writer and an independent arts consultant.