If you’ve always had a heart for art, this is the time to let it lead you smiling gently all the way to the bank. Meenakshi Doctor tells you how

It's the art world's best-kept secret; ask any Indian art dealer of repute and he,or most often, she, will tell you that they've known it all along:Indian artists are the best in the world. It wasn't often that a painting by an Indian artist was auctioned for 1.5 crore rupees or is even seen to be 'worth' that kind of money. But over the years, contemporary Indian art, like Tyeb Mehta's 'Celebration' triptych, has commanded such a price. Indian art is increasingly becoming more that just a pretty picture to hang on your walls. Some canvases command serious money and this makes them as valuable as stock market blue chips.

Art As An Investment
"When you talk of buying art, there are two types of people," says Shalini Biswajit, an art collector and gallery owner in Chennai. "The first type buys the art with the intention of selling it and will want to know how much they will get if the gallery were to buy it back. For this person, art is an investment. The second type of person will buy art and will not want to sell it because of the attachment to the artwork. This type of buyer will only sell the work if he or she needs the money and even in this case, will be reluctant to part with the piece."

"The investment value of a piece of art first begins with the hype and popularity levels of an artist," explains Ashvin Rajagopalan, a young Chennai collector and gallery owner. "Initially, a first-time art show's success is based on how popular the art is, who collects it, and how much is paid for the art. After that, it depends on how the artist sustains himself. Some artists start offwith a bang and their art appreciates dramatically, but as the years go by, the art degenerates and the work comes down in value. But most often, artists get better and the prices of the paintings usually go up."

The Colour Of Money
For art to be a good investment, choosing the right work is key because as we all know art varies and so does its price. But unlike other investments and purchases, buying art is an unique experience. You can't buy it at a sale or for a 10 per cent discount. Most people buy art simply because they like it!

Says Ashish Anand, Director of the Delhi Art Gallery, "I've been in the business of investing in art for the past six years and I would not have remained in it if it were not profitable. I think one should treat art as investment only after one has trained one's eye to appreciate it properly. I don't agree that the return on an art investment is slow.

Art enjoys a very high rate of appreciation that can sometimes go up to 100 or even 200 per cent. The work of the top 10 artists in India has already acquired a fairly high value. The excitement now is in investing in the next 10 to 15 leading names in contemporary Indian art because the prices of their works are not yet as high as they could reach in the years to come, and older works of art by any artist are often widely sought after and valued."

So take the plunge today; start by visiting an art gallery and learning to appreciate the works of the Indian masters.

5 Reasons To Invest In Contemporary Indian Art
1 All works of art are unique pieces. No two pieces of the same kind exist and therefore, good works become all the more valuable.

2 The return on investment in art could go up to 20 per cent per annum.

3 Art never gets cheaper.

4 If one were to buy good work by an older artist, the art appreciates by leaps and bounds and there is good re-sale value for it.

5 Art is as much of an investment as buying shares or buying gold. To some degree, it is a gamble as much as investing in shares, gold, property or bonds is. But then, is anything 100 per cent foolproof?


An Investors' Guide To Buying Contemporary Indian Art
• You must really like what you are buying. Avoid buying purely for the name of the artist. You might get stuck with works of art you cannot stand.
• Visit as many exhibitions as you can to look at different works by a number of artists. Read up as much as you can on the art you are planning to buy and on the artist. It pays to do your homework.
• Know the artist. Talk to the artist and find out what they are about and what their art is about. Some works can look fantastic, but they could be by gimmicky artists who are copying something. Most serious art collectors will always personally know the artist behind the artwork they collect.
• Try and catch the artist when he or she is young. The work will be affordable.
• Be prepared to wait for the art to appreciate. If you buy any senior artist, it will appreciate in 10 years. The value of art usually goes up if the artist is older or if he or she passes away.
• Artists tend to paint in series. A successful series by any artist is always worth buying; good gallery owner will guide you on this. Buy art from a good series.
• Check the age of the painting to see if the painting you are buying is a new piece or van old one. An older piece is usually a better investment, because it has stood the test of time. A new art experiment may or may not be worth the price.
• Scout about for a reputed art dealer whom you can trust. Ask around and get a good reference for the dealer. When you want to sell your art, always go to a reputed gallery which will be able to evaluate the work properly and advise you well. The art world is notorious for frauds and fakes, so be warned.
• Never be compelled to buy art as soon as you enter an exhibition. The biggest collectors seldom turn up at openings and at exhibitions.
• Look after your art purchases as you would look after jewellery.