Indian Art Market Confidence Survey – May 2011
|Report Type||Confidence Survey|
Indian art market confidence increases by 19.2%
ArtTactic’s Market Confidence Surveys provide in-depth analysis of market confidence based on data gathered from ArtTactic’s network of industry professionals and tastemakers. The surveys also include unique analytic tools including a risk and speculation barometer, as well as short/long term confidence indicators for specific artists from the region.
The ArtTactic Indian Art Market Confidence Indicator is up by 19.2% from October 2010, helped by a strong confidence in the Indian economy. Despite a below-par auction season in New York in March 2011, experts in the Indian art market believe the positive economic sentiment will start filtering into the Indian art market, which has been troubled since the speculative boom in 2008. With economic growth set to out-pace China, the survey experts believe India’s economic growth will help fuel the Indian art market. This report provides a full update of the ArtTactic Indian Art Market Confidence Indicator and Speculation Barometer from the previous report in November 2010.