Art in times of recession

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Indian art enjoyed its best time some years ago. But then came the global meltdown that affected not just the pockets and spirits of spenders, but also their appreciation for all the finer things in life, including the Husains and Razas. With the gloom persisting for more than three years now, there have been a few attempts to help art appreciation at least.

Annurag Sharma, director and organiser of the United Art Fair, which will be held in Pragati Maidan in September, believes that the downfall in Indian art market was inevitable and so was the current time of correction. “In 2006-07 the ‘boom’ in the art market saw even mediocre work sell for millions purely on the basis of names. This, in turn, degraded the quality. Eventually, high-priced artworks instead of appreciating in value started deprecating. To bring quality artists back in action, we are now trying to set up a platform and organising the United Art Fair,” he says, adding, “We are also expecting the art market to open up again from August and talented newcomers to get a fair chance to sell their works.”
For Tunty Chauhan, director of gallery Threshold, the bygone phase was an aberration, but the current dull stage is a corrective measure. “It will eventually churn out quality work. And artworks won’t be selling purely on the basis of names.”
Well that may be right, even the most liberal section of people from the art fraternity are scared to talk abfout the ‘R’ word, hoping that the dark time will end soon. Alka Raghuvanshi, a well-known art critic in the capital says, “No artist wants to openly speak about the art market crash in the country because it will make things worse for them. When the art market was blossoming, Indian artists outpriced themselves in the domestic market. And, now when the global meltdown has affected each sector they are facing problems in selling their artworks. Many artists are saving their best works and not selling them because they know that they won’t get good money.”
Artist Naresh Kapuria also feels that artists have been going through a rough patch over the past three-four years and have been taking up various jobs till the market revives. He says, “I know a lot of artists who are now branching out to earn their bread and butter. A lot of them are teaching in schools or conducting art camps. Some of them are working with interior designers and doing bulk assignments for corporate buyers to sustain themselves.”