India art market

India Art Market Report – March 2016

  • Analyst:
  • Pages: 11
  • Access: Analyst

The India art market gains global market share: With US & European and Chinese art market showing a decline in auction sales in 2015.  Additionally, the overall Indian Modern & Contemporary art market saw a 36% increase in sales in 2015 (based on results from Sotheby’s, Christie’s, Bonhams, Pundoles, Saffronart and AstaGuru).  Indeed, India’s market share among emerging art markets has increased from 10% in 2014 to 15% in 2015.

Domestic India auction market is set to grow in 2016.  Whilst New York and London used to dominate the Indian Modern and Contemporary sales, there has been a clear shift towards auctions held in India in the last 3 years, with Saffronart and Pundole strengthening their market position in 2015.

Report content:
Market Outlook 2016
Domestic vs International auction sales
Market share by auction house
Top 3: Auction House analysis
India Art Market Confidence 
Risk and Speculation Barometers
Modern & Contemporary Indian Artist Confidence Ranking


Domestic sales (auction sales taking place in India) accounted for 61% of the overall total, up from 55% in 2014 and 46% in 2013. The growth is led by Pundole and Saffronart, where both auction houses have experienced strong growth during 2015