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The Indian art market
should continue to grow and the appreciation in prices is certainly a
postive sign. But, artists should ensure the increasing number of
buyers and higher demand do not affect the quality of their works,”
renowned Paris-based Indian painter Sakti Burman told.
Mr Burman, who has lived in Paris for five decades, said he perceived
the first signs of the market developing slowly even in the early 90s
or late 80s, although the market really took off in a big way in the
last 2-3 years. “I remember when I came to India in 1989, my
watercolours had sold at Mumbai’s Pundole Art Gallery for around Rs
4,000 and my oils between Rs 10,000 and Rs 25,000. One feels it was a
respectable price when the market was still underdeveloped,” Mr Burman
said.
The two major factors which have helped the market to expand and
balloon, he said, are India’s economic growth and development. And the
second is the entry and insatiable interest of collectors both in
India and Indian diaspora abroad.
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