Returns to Indian Art during 2000-2013
Authors
Published
Eastern Economic Journal, vol.
42, issue
Spring 2016, pp.
302-310,
April (2nd Quarter/Spring)
2016
Website
http://
www.palgrave-journals.com/eej/journal/v42/n2/full/eej201539a.html
Abstract
The market for modern Indian art is an emerging art market, having come into a proper existence only in the late 1990s. This market saw tremendous growth in its initial years, then a downturn that started around 2007–2008. Using data from auctions conducted by a major Indian art auctioneer, we estimate via hedonic regression a price index for paintings and drawings by Indian artists sold during 2000–2013. We are able to thus estimate a rate of return on Indian art as an investment and also shed light on what drives the price of a painting in the Indian market.
