Much like the retail investor in the stock market, the retail art buyer in the art market is pushing up this till-now undervalued ecosystem in India. Picking up valued works by contemporary lesser-known artists push their value, quite like non-blue-chip stocks waiting to enter their ‘blue’ period. Galleries coming together under a common roof of art fairs – Delhi, by virtue of these collectives, becoming the de facto art capital – are, in a way, emulating the market dynamics of what the Paris Salon did for the 18th-19th-century European art world and artists, and the Biennales do today in more developed art markets.
Art, like all culture, maintains a strong, yet asynchronous, relationship with capital – the former thrives on the latter, while underplaying a 1:1 relationship. As an asset class, it also is a powerful marker and shaper of cultural power. Let’s frame it, hang it and curate it to its full potential.