Why the online art market is booming in India?

The Indian Art Bazar is now on Internet



News - India & You

August 20, 2016

/ By / Kolkata

3.2/5 - (6 votes)
Online Indian art market giving better performance

Indian Art Bazar growing online now

21st century witnessed a drastic change in case of selling or buying of products online and India is no exception. In the past five years, selling art online such as canvas, paintings or crafts has become a new trend to look up to in India. Many young artists now believe that it is better to put art online for sale than calling for an exhibition.

India is also picking up fast with this new trend of online art products. As much as one would like to believe that an artist brings art from the heart, a majority of buyers, over 70 pc, see this as ‘a passion which has an investment value’.

According to a recent survey in 2016 published in Art and Finance Report by Deloitte Luxembourg and ArtTactic, there has been an increase in art collectors, who are concerned about the potential return on investment while buying art. These increasing interests in arts, opening scope for the artists and online art market transaction is introducing Indian art and artists in the global market more widely.

Solomon R, an artist from Trichy (India), who has travelled to all major cities in India to exhibit his paintings and ended up with no buyers, registered online to sell his paintings to see an acceleration of his art work.

This artist is now selling his works much faster than ever with the online ecosystem. S.H.Raza, another soul of Indian art, and other amazing Indian artists such as F.N.Souza, Tyeb Mehta, have registered themselves online, enriching their prosperities. Bijay Biswal from Nagpur, India, who has sold online over 40 work pieces at maximum price high up till INR 250,000 (Euro 3290).

Exhibiting art now old school

Online art market is also giving an advantage to the small town artists to showcase themselves, increasing their span. According to Shravani Vatti, founder of online art rental platform Artenthuse, “such platforms render artists more power and most of the art galleries are in the metro cities, so through online websites artists can engage themselves from anywhere and they can also research, follow, practice and sell their works.” S. Vatti said that small towns are also catching up and 30 to 40 pc of registration is from the small towns like Durgapur, Baroda, Indore and even from remote villages in Assam.

Artzolo, Saffronart, Artenthuse, Talentrack, Indiaart and many other India based online platforms to sell art are changing the perception about the art business in India. Talentrack witnessed an immense number of over 65,000 artists and 1,500 recruiters from over 600 cities and towns who registered themselves within few months after its launch. Vineet Bajapi, founder of Talentrack stated at the beginning that there were just 10-15 artist registrations per day, but now it even crosses 300 on daily basis.

Apart from featuring painting, sculpture by professional artists, Indiaart also has child artists in their art market.

Youth culture has a tendency to go online for almost every purchase, thus the online art market is growing fast. Many people now want art and other collectibles to be included in their wealth record, so it is easy to find a preferable art piece online to purchase. Online art market is gradually becoming a new profit bonanza in India.



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