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Amid art world slowdown, digital auctions save the day
By IANS Life
Jun 06, 2021
According to AstaGuru, an Indian online-only auctioneer, being digital helped them stay relevant in these turbulent times
June 6, 2021 (IANS life According to the Artprice 2020 Art Market Report, t he cancellation of fairs, exhibitions and sales since March last year has impacted the art industry at large.
But unlike museums, which have suffered the full impact of Covid-related restrictions, auction houses quickly found ways to preserve the core of their activities thanks to digital technology.
In the case of Mumbai-based online auction house AstaGuru, which has been online since its inception, the connection with their target audience was not lost.
"Owing to this we were able to stay connected with our target audience/ collectors and stay relevant in the current times. Our secure and easy remote accessibility features further accorded our bidders confidence to continue participation in our auctions. We have been receiving an enthusiastic response for all our auctions, signifying a sustained demand for art," Sneha Gautam, Vice President - Client Relations, AstaGuru tells IANSlife.
Ahead of presenting the sale "Collectors Choice: Modern Indian Art" on June 25-26, which will showcase a well curated line-up of works by Modern Indian masters, AstaGuru asserts that the auction market is performing well, and collectors are greatly inclined towards investing in important and well-presented assets.
"Furthermore, the number of new bidders is an encouraging trend and strengthens the market's foundation. We expect a healthy and stable performance with regards to the summer sales," it says.
In the context of the upcoming sale, AstaGuru shares that modern Indian art remains the proverbial jewel in the crown for art collectors with consistent demand for works by Masters. It says that it has witnessed this trend, along with an increase in first time bidders indicating a significant interest among new collectors as well. Over half the works being sold in this upcoming sale are market debuts.
