London-based Anish Kapoor has topped Hurun India’s Artwork Listing for the second 12 months in a row for the highest 50 dwelling Indian artists.He noticed a turnover of Rs 44.39 crore in 2019, with the costliest work priced at Rs 6.14 crore.
Whereas the 66-year-old Kapoor has topped the record, his gross sales worth dropped 72 per cent from the earlier 12 months.
However not solely Kapoor, mixed gross sales worth of the entire high 50 artists declined by 63.four per cent to Rs 108.71 crore.
On the second place is newcomer to Prime 10, Rameshwar Broota who noticed a turnover of Rs 11.89 crore, a rise of 340 per cent.
His most-expensive work is priced at Rs three.82 crore. The third richest is 95-year-old modernist painter Krishen Khanna at Rs 6.87 crore.
The second record has extra surprises, with Mumbai-based artists Atul Dodiya, 61, and 45-year-old Jitish Kallat breaking into the top-10 for the primary time.
Solely 22 per cent of the whole variety of artists are ladies. Modernist painter Arpita Singh has bought the best worth of artworks.
Arpita Singh continues to stay probably the most profitable Indian feminine artist with cumulative worth of Rs 5.09 crore. Dodiya, Broota and Kallat all noticed their gross sales rise quickest this 12 months.
SH Raza and Francis Newton Souza, the co-founders of the Progressive Artists’ Group of Bombay, have been the highest-selling deceased Indian artists with gross sales of Rs 102.eight crore and Rs 90.6 crores final 12 months.
Bhupen Khakhar’s ‘Two Males in Benares’ was the highest-selling particular person art work of a deceased Indian artist, promoting for Rs 22.39 crore.
Of the highest 50 artists, 17 per cent stay exterior the nation. New Delhi continues to stay the artwork capital of the nation with 19 artists within the record, adopted by Mumbai with 12.
Kerala tops the record with 9 of the highest 50 artists being born there, adopted by Maharashtra (eight) and West Bengal (six).
Anas Rahman Junaid, managing director of Hurun India, blamed the raging COVID-19 pandemic and the demonetisation of 2016 for the poor artwork demand, although the nation has almost doubled the variety of millionaires because the note-ban.
In keeping with him, the home artwork public sale market represents solely zero.four per cent of the worldwide artwork public sale market, behind the US, China and Britain with 35 per cent, 31 per cent and 15 per cent respectively of the USD 13.three billion market pie.
Hurun International Chairman Rupert Hoogewerf stated Indian artwork is extremely undervalued, as the costliest work of Indian artwork bought at a public public sale have been the work of Francis Newton Souza and V S Gaitonde for a paltry USD four million every.
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