Newsletter for Art Collectors & Aficionados

Weekly Collector Issue: III February 2011

Copal The Leading Authority on Indian Art

Business process validated by-ERNST & YOUNG

THIS WEEK'S THOUGHT…

An art object is a soulful expression of the artistic sensibilities that has an intrinsic value. Which is not just because of the interlaced creative and aesthetic value but also because of its relevance in the time frame of an era; and it is due to these attributes that an art object acquires a financial value.

COPAL'S OUTLOOK ON SENIOR MASTER ARTIST BADRI NARAYAN

Since the year 2002 India art market has grown from USD 2 Million to USD 400 Million. Prices of Indian paintings are continuing their skyward trajectory. The phenomenal growth is because of Indian artists who are getting noticed for their new mediums, diverse explorations and differential contexts. They are producing high quality works that is still undervalued relative to their western counterparts. One such artist exhibiting the magnitude of future growth for his diverse mediums is Badri Narayan. Narayan's work titled “The Table at my Sickbed” measuring (1.95 sq ft) fetched USD 442 (INR 21,216) in the year 2002.

Lately in Sep 2010, his artwork “Untitled” painted in 1989 measuring 21.5 x 21 in. (3.13 sq ft) was sold for USD 28,187 (INR 12, 68,393).

Works by Badri Narayan have experienced the wide acceptance from global connoisseurs. Over the past 7 years, the artist's collector base has also expanded and works have gone places in the collection of many bigwigs.

ART BECOMES A SERIOUS BUSINESS FOR BANKS: A MUST READ By Tara Loader Wilkinson

Wealthy investors are increasingly viewing art less as a passion and more as a serious asset class in its own right. Anish Kapoor's 'Turning the World Upside Down III', 1996 is owned by Deutsche Bank. Demand for good art has been buoyed by interest from buyers from emerging economies, and an increasing number of private banks are teaming up with experts to advise clients. At JP Morgan's annual conference for ultra high net worth clients in Paris last year, art investment was on the agenda for the first time. The world's major private banks, including UBS, JP Morgan and Deutsche, are under pressure to come up with an art market strategy beyond simply offering their clients access to art fairs and other concierge type services. The switching cost in private banking is so insignificant that banks are forced to develop products that appeal to client's emotions – and art is a good place to start.Wealth managers are also interested in using art collections as collateral against large loans. Deutsche Bank's head of lending and credit solutions, Michael Darriba, spoke at the November seminar on options for using art as collateral.The Capgemini and Merrill Lynch World Wealth Report 2010 found that high net worth individuals are returning to art investment, seeking items that are perceived to have tangible long-term value. Some institutions are encouraging clients to incorporate art into their investment portfolios. Swiss private bank Lombard Odier has developed a custody platform that integrates deposited assets, such as equities and bonds, with non-deposited assets including art.

PICASSO FETCHES USD 40 MILLION

A Pablo Picasso painting of his mistress and model Marie-Therese Walter titled "La Lecture" fetched USD 40.7 Million at a Sotheby's auction on February 8, 2011.The painting, which had been expected to fetch between GBP 12 and 18 Million helped lift the modern and impressionist art auction total to GBP 68.8 Million.

La Lecture

It points to another buoyant year on the art market and the escalating interest and valuation significance for Masters amongst the sophisticated collectors.

The response to the works by Masters is crucial towards developing the market dynamics and in topical scenario, Copal's Art Advisory Team recommends one to collect works by established Modern Masters since they are available at very attractive values and are bound to rise multifold in future (as per analysis done by Copal Research Team). So the long term value appreciation coupled with aesthetic quality (of Modern Masters) is the quintessence.

LONDON ART FAIR TO HIGHLIGHT HUSAIN'S WORK

Leading Indian contemporary artist M.F. Husain's art will be the highlight of the 20/21 International Art Fair in London Feb 17-20.

A six-foot abstract composition by Husain, known as the "Picasso of India", depicting human figures cavorting in a woodland, richly textured and intricately executed, will be on sale at the fair. The work painted by the artist during the 1970s, when his works were much sought for their complex and colourful texture, is priced at GBP 180,000 while a smaller canvas is estimated at GBP 120,000. Husain canvases are attracting attention from buyers and generating interest among the "emerging generations of contemporary artists for its rich textures". Other artists exhibiting at the fair include Pawel Pyrz, Anthony Green, Kasia Kamita, Anthony Murphy, Jean Marchard, Peter Blake, Rob Ryan, Maria Rivans, Jim Dine, Roger Hilton, Romyn and Emiko Aida.

COPAL IN NEWS

Yet another feature of Copal's Ajay Seth as appeared in Sunday Financial Express dated February 13, 2011 highlighting the growth and future potential of artist Rameshwar Broota.

Rameshwar Broota

Copal Recommended Broota's photographic expedition

Rameshwar Broota, the veteran artist's photography exhibition 'Open Enclosures'opened at the Triveni Kala Sangam in the capital. The exhibition is on at Shridharani Gallery,Triveni Kala Sangam from till February 21, 2011.

I can't sit still, my entertainment, I feel great with my computer, camera and painting. I have not earlier the satisfaction that I wanted from photography which I have got now thanks to the technology available~Broota

EVENTS: YOUR WEEKLY CALENDAR FOR ART

Black Brown and The Blue

A selection of personal photographs and other rare memorabilia of one of India's premium artists Shuvaprasanna Bhattacharya in this show are worth a watch!@ Lalit Kala Academy, Connaught Place, DelhiFebruary 21 - March 4, 2011

Group Show

Five artists including Jaideep Mehrotra, Manu Parekh, Akbar Padamsee, Azran Khambatta and Bindra Miller will sensitize your lives with various forms, colours@ Tao Art Gallery, Worli, MumbaiTill February 18, 2011

Resonance

A group show, 'Resonance', featuring S H Raza, Anjolie Ela Menon, Sakti Burman.@ Art Musings Gallery, Colaba, MumbaiFebruary 4- February 26, 2011

Raghu Rai - A Retrospective@ Aicon Gallery, New YorkFebruary 18 - March 20, 2011

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Special Contributions by: Ashok Vajpeyi , Ajay Seth, Devesh Garg

Editor: Saguna Ahluwalia

Contributing Editors: Mithila Kapoor, Nikhil Khandelwal, Ricky Seth, Sahitya Prakash, Sharan Seth,

Swati Sharma, Mahendra Nayar

Coordinator: Sanjiv Choube

Copal Art P. Ltd. 1112, DLF Tower B, Jasola District Centre, Mathura Road, New Delhi – 110 025 (India)Phone: 011- 40647045- 52. Email: contact@copalart.com, office@copalart.com. Website: www.copalart.com