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Press Releases - Kings Road Gallery & Tanya Baxter ContemporaryInvesting in Art: The New Asset Class“Art may not be very hard, but at least it is tangible; there is an international market for it both privately and at auction. And if inflation does rear its ugly head, people believe that art prices will inflate right along with real estate and other hard assets.” Kings Road Gallery & Tanya Baxter Contemporary work with the great Modern Masters of Indian contemporary such as Jitish Kallat, M.F.Husain, Manjit Bawa, F.N.Souza and S.H.Raza as well as the established auction record contemporary Chinese artists. The gallery has represented the rising stars of Chinese Contemporary since the late 90’s, formerly in Hong Kong and then in London. The majority of collectors or investors purchase Chinese art as an investment or asset class. “The Chinese Contemporary art market will boom again in the next 3 to 5 years the turnover for Contemporary art increased by 60% in the recent 2010 auctions, compared to 2009. The growth of the Chinese market is nothing short of staggering: according to a recent ArtTactic report, the global Chinese art market increased between 2008 and 2009 by 41 per cent. Fuelling this market are Chinese new rich; Forbes recorded 49 new billionaires in the mainland last year, and Sotheby’s says that the number of buyers from China who have purchased objects worth over $500,000 has increased by 400 per cent since 2004 Sacha Jafri is now considered one of the world’s leading young painters. As the youngest artist in the History of Art to be offered a 10yr Retrospective, reaching critical acclaim and visiting the top Museums of the world. Having recently pipped Damien Hirst to Top Spot in auction in London, Sacha has become the first ever artist to be featured on the front cover of both the New York Times + Financial Times, with the BBC describing him as being the man responsible for 'bringing painting back to the forefront of the global art scene' and the Art News Paper as being 'the pioneer of Magical Realism'. Sotheby’s have recently described him as a ‘Shrewd Investment’ amplified by his recent Sell-Out World Tour with a lost Andy Warhol collection entitled ‘Jafri meets Warhol’. The pictured Sacha Jafri Triptych was picked for the 'Best of Frieze 2010 Showcase' whereby the top eight works were chosen to be showcased at the Embassy Exhibition, Belgrave Square on the closing day of Frieze 2010. M.F Husain is one of the most highly rated artists today. His work sells at astonishing prices and is grabbed almost instantly by International collectors. According to Forbes magazine, he has been called the “Picasso of India”. Husain has become the highest paid Indian living artist. His single canvasses have fetched up to $2million at the recent Christie’s auctions. In fact all the recent auctions for Indian Contemporary art have broken records, including a world record price in auction for Benhangir Sabavala, reconfirming the upward trajectory in the Indian art market which mirrors its economy which is expanding faster than any other economy in the world. We are currently showcasing an exceptional collection of works by leading modern and Contemporary Indian artists, the painting. Auction prices for Indian artists have risen 500% in the last five years, and are likely to increase as the demand from Indian collectors continues to rise. The Indian art market is now on a sustained growth path, it is still undervalued and a good time to buy, particularly the works of the remaining Progressive Indian artists, i.e. S.H Raza and M.F Husain, and the Contemporary Chinese works of Ling Jian and Zeng Chuanxing. "The market for Chinese 20th Century and Contemporary art continues to be steady and healthy. Asian buying remains strong, making the winning bids for nine out of our top ten works, among a global buying base.” said Eric Chang, International Director of Asian Contemporary Art and Chinese 20th Century Art. Financial Times on Monday 20th December 2010, reporter, Glori Ye “The Chinese art market has huge growth potential, observers say art is a unique asset class and although art investment in China is still at an early stage, market participants believe the market has huge growth potential.” Back to dealer/gallery profile
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