The financial year 2020-21 has been the strongest sales year in the history of Indian art auctions, according to Art Market Report 2021, produced by art research and advisory firm Artery India.
According to the annual report created by one of India's leading art ☰
The Indian art auction market registered strongest sales in a pandemic yearGaitonde’s canvases held the top 3 price slots, collectively getting Rs 112.2 croreSneha Bhura By Sneha Bhura
Amrita Sher-Gil's 1938 'In the Ladies’ Enclosure'
The financial year 2020-21 has been the strongest sales year in the history of Indian art auctions, according to Art Market Report 2021, produced by art research and advisory firm Artery India.
According to the annual report created by one of India's leading art market watchers, the year 2020-21 has been the strongest (roughly tabulated since 1987 when the first Indian art auction was conducted). In terms of market performance and turnover, it achieved sales figures to the tune of Rs 880.9 crore from April 20 to March 21, despite depressed market sentiments and ample volatility. The numbers for FY 2019-20 was around Rs 560 crore; hence the pandemic year sales recorded a jump of almost 57 per cent. The Moderns category remained the big winner; in fact its turnover shot up by over 65 per cent from the previous financial year.
V.S. Gaitonde’s canvases held the top three price slots, collectively achieving Rs 112.2 crore. One of India's foremost abstract painters, Gaitonde's canvases occupy seven slots in the top 10 most expensive Indian works ever sold.
