One of India’s foremost art collectors and chairperson of the Kiran Nadar Museum of Art (KNMA), India’s first private museum of modern and contemporary art, Kiran Nadar, 72, owns some of the most spectacular works of Indian art, including SH Raza’s Saurashtra and FN Souza’s Birth. Wife of industrialist Shiv Nadar, she has supported several
Q: What’s the state of the art market? Over the last decade, the size of the art market has maintained a relatively constant level, remaining close to the $60 billion mark. Although this seems like a large number, it significantly falls short when compared to FedEx’s revenue, which exceeded $90 billion last year. So all
ADQ, an Abu Dhabi-based investment and holding company, has signed a definitive agreement with Sotheby’s, the global leader in fine art and secondary market luxury, for ADQ to acquire a minority interest. Under the terms of the agreement, ADQ will acquire newly issued shares of Sotheby’s to further strengthen its balance sheet and augment the
You’ve always loved art. And as a financially savvy person, you also know that art can be more than just something beautiful—it’s also one of the biggest investment crazes of the last few years. You’re not alone. 33% of Millennial investors believe art can be used as an asset to build wealth. But is art
It is the artwork for our times. A four-metre-wide Banksy depicting MPs in the House of Commons as chimpanzees set a record for the artist when it sold for close to £10m at Sotheby’s in London after just 13 minutes of bidding. The £9,879,500 winning bid was notable not just for its size but by
The gray-haired art dealer poses in a plush Parisian interior. He relaxes in an armchair, one hand on his chest, looking lost in thought. The dealer is Paul Durand-Ruel, the leading French gallerist of the 19th century, and the portrait is by one of his best-selling artists, Pierre-Auguste Renoir. Painted in 1910, it hangs in
Unlike stocks and other asset classes, people do not buy art to become rich, but the rich buy art, said Santosh Joseph, founder of Germinate Investment Services LLP. As this line captures accurately, this exquisite asset class is not for everyone. Be it for passion, display, or sometimes profitability, this asset class has been an
Clearly, this is not for everyone but art has always been an interesting asset class, especially for ultra-high net worth individuals. Essentially, this is usually beyond the reach of affluent people also, according to advisors. “In the ultra-wealthy section, this is savoured both as a passion and as an investment. Unless your portfolio has a
One hundred heads in the room at Christie’s auction house turn to a woman with red hair. She has just flung her arm out to stop the auctioneer, who was seconds away from selling a drawing by Rembrandt van Rijn for £40,000. There are gasps and murmurs from the crowd. The auctioneer leans over the
We live in very different times, and one sign of the changed landscape is a general acceptance of art as a financial asset. The latest research from Deloitte and ArtTactic finds that 85% of wealth managers believe art and collectibles should be part of their client offering. In 2014, the equivalent survey found that just