We had many speculators who wanted to buy art only as a short-term investment…
points out Saffronart’s Dinesh Vazirani in an article that traces the rise and rise and fall of art as an investment avenue. Thankfully, the speculators are out, and genuine buyers are knocking on the door again.

An insightful news story ‘Indian art now paints a new picture in downturn’ by Rina Chandran of Reuters describes how wealth managers started advising on art as a lucrative alternative investment. Dozens of galleries cropped up in New Delhi and Mumbai, along with fancy wine n cheese soirees and long waitlists for wannabe artists stretching into years.

However, the recession has changed it all. The froth is out, and it is quality again coming back to the fore. Saffronart is seeing old collectors who had missed out during the inflated boom, now buying ‘what they like..’, as Vazirani states.

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