New Delhi: The India Art Summit moved to a much larger hall in Delhi’s Pragati Maidan this year as part of its strategy to bring in more people.
The exhibition, which was from 19-22 August, attracted 40,000 visitors compared to just 10,000 last year. There was the regular crowd of artists, connoisseurs, and curators. But also present this year were people looking to buy art for the first time.
And the exhibition did not let them down. First time buyers made nearly 40 % of the purchases. Customers had a diverse range of exhibits to choose from, with costs ranging from Rs150 to Rs4 crore.
The summit opened with about 500 works on display that were worth a total of about Rs40-50 crore. At the end of the summit about 250 pieces worth Rs26 crore had been sold.
The first art piece changed hands on 18 August, even as the stalls were being set up. And the most expensive work in the exhibition was a metal sculpture by Anish Kapoor that was sold in the first few hours.
The summit has marked a revival of the art market in India. According to Projjal Dutta of the Aicon Gallery: “Art markets took a bad hit last year. It began picking up in June-July this year, but this summit has firmed up the market.”