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Finding a home for art

The time has come when the government should form policies and laws to protect artists, dealers and investors, says Priyasri Patodia.

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Priyasri Patodia

When the hammer went down on a crore for Jogen Chaudhury in an auction it made me think. Is the artist getting a fair share for the contribution he makes to the art market?

Performing art industries are protected in form of royalties and various laws, then why not fine arts? Is the investor getting a fair share?

When I contacted Chaudhury, he said, “An auction house in India is offering 0.5 per cent of the profit from sales to the artist; this is very little.”

According to him the artist or his immediate family should get at least 5-10 per cent.

According to artist Akbar Padamsee, “It’s a positive beginning. Today it is 0.5 per cent, tomorrow it will be more. Everyone works for profit.”

The Indian art market is becoming an organised sector but is still in its neo-natal stage. The time has come when the government should form policies and laws to protect artists, dealers and investors. Auction houses and galleries are institutions of exchange, backbones of the art industry.

According to Chaudhury, “Both have distinct roles. The job of an auction house is to sell those old art works that are in demand, so that rare works are sold at premium prices.”

A gallery is meant to be a hub for art activity, a meeting point for artist and art connoisseur. “Galleries are personally connected with the artist, and should constantly showcase the artist’s new creativity and his progress. It is the responsibility of the gallery to promote young artists as they are the future,” adds Chaudhury.

Padamsee, on the other hand, does not distinguish between the two. “These days many galleries are representing auction houses; the former works on long-term profit, the latter on short-term.”

What he detests is hoarding. “My first desire as an artist is that my work be shown globally,” he says. Frequent auctions and multiplying auction houses lead to fishing of inferior work, he adds.

“They don’t care what they sell as long as it sells. It would pain me to see a bad work of mine in any show,” says Padamsee.

According to Bijay Anand, an art lover, galleries must guide buyers to distinguish between “decorative art and serious investment art.”

When an investor invests, it is with an expectation of future returns. The idea should not be to create false scarcity or demand but to showcase good works of serious artists that benefit the seller and the buyer, keeping in mind the interest of the artist.

AUCTION HOUSE

Showcases works that are in demand of living or deceased masters. Works of historic value, antiques etc are the highlights in auctions globally

Transparent open platform with selling as ultimate goal

Place to encash your masterpiece at a premium price

Open re-valuation of works takes place. Also acts as an index to changing prices.

Helps in shaping the art market and acts as a benchmark for current trends and prices.

The artist plays little or no role in the auctions, generally he has no share in the profits because most often works are procured from secondary markets.

GALLERY

Showcases masters as well as unknown and emerging artist. Highlight different forms of art that may or may not be in demand thus catering to art investors and connoisseur equally.

A cultural junction and meeting point for the art fraternity. Selling is not always the ultimate goal.

A breeding ground for revolutionary ideas, newer trends and techniques and reflects the social, political, economical and religious scenario.

They generally work directly with the artist where he fixes the price and gives a portion of the sale as commission to the gallery, but buying and selling from secondary market also takes place.

Priyasri is a gallery owner and an art lover

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