Auctioneers await next wave of artists

KOLKATA: Some auctioneers are now on the lookout for the second bracket of artists to broadbase the spread of painters on offer in upcoming auctions. Based on market feedback, inquiries are coming in from auctioneers for a basket of artists in this category.

To begin with, the priced of top rung of artists are not only going through the roof, quality works by them are sometimes becoming inaccessible. Besides, the number of auctions are surging, making it necessary to shore up stocks of paintings.

Some of the artists who auctioneers are on the lookout for are Paritosh Sen, Shyamal Datta Ray, Jayashree Chakravarty, Kartick Chandra Pyne, Arpana Caur, Akhilesh, Baiju Parthan and Harshvardana. The focus is also on artists like Bose Krishnamachari, Satish Gujral, Lalu Prasad Shaw, K Adimoolam and Laxman Shrestha.

“Most auctioneers are looking at pushing up the package of the second line of artists because the high-end painters are becoming more and more expensive. At the same time, a large quantity of quality works by them is not always available. Since these works are rare, it is also difficult to procure high quality paintings with unflagging consistency,” an art market source told ET.

Also, some of these works could be circulating in the secondary market at prices similar to auction levels. In such a situation, the owner of such a work may refrain going through the auctions to avoid coughing up the auctioneer’s commission. Buyers could also prefer picking up these paintings from the secondary market as they are not required to pay buyer’s premium as in the auctions.

“As the Indian art market matures, buyers are training their sights on a range of artists who are reflecting different styles, forms and content. Auctioneers are, thus, also keen to put a variety of works under the hammer.

There may be a sizable price gap between the topmost artists and the second line ones. But, that has no bearing on the quality of works created by the lesser priced artists.

It’s just that the artists with lower price tags may not have had adequate exposure and are waiting to rise. After all, high-fliers like FN Souza and Jogen Chowdhury, too, were nowhere near today’s prices 3-4 years back,” the source said.

In fact, according to the source, there is already a movement in terms of prices and sales among artists who are poised to enter the auctions or make their presence felt in the auction circuit in a bigger way.