Buying art for gifting purpose: what to look out for?

Indian art is slowly but surely becoming a crucial component of an alternate investment portfolio. This shift of strategy is largely being driven by the fact that it’s drawing attention and valuation that it thoroughly deserves.

Of course, buying a piece of art for yourself for someone else is an art in itself! Bringing this to fore, Michael Moses, a professor at New York University’s Stern School of Business, has mentioned in an elaborate essay on the subject: “There are three beauties in some sense in art. The beauty of the object; the joy of collecting and meeting with people and talking with people and the excitement of the hunt; and there is the diversification potential of art in a portfolio.”

Broadly speaking, some research regarding an artist needs to be done before you decide to buy that artist’s work for gifting purpose. Following points give a clue to the artist’s intrinsic value:

* Age of the artist
* Academic qualifications
* Awards / Citations / Merits received
* Participation in National / International shows / workshops etc.
* Contents of the work
* Medium of the work
* Artist’ ability to explain the work and the thought processes
* Technique & style of work
* Buyers’ list
* Critics’ perception of the artist
* Association with prominent art galleries

The tastes of the person will also come into play. This can be very subjective. For example, someone may like figurative works, whereas someone else might relish abstract works. Some like decorative pieces, others take fancy to realistic works drawn from the life around.

Some want to get paintings whereas a section of art lovers are attracted to installations and sculptures for display purpose. This particular aspect must be kept in mind while selecting a piece essentially for gifting purpose. o cater to art lovers of all types and tastes, The Arts Trust has a vast array of works on offer from India’s both emerging and established artists.

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