Market Report - South Asian Art

Art Research Technologies has released its September report on the South Asian Market. ART provides data analysis and quantitative solutions for the art market.  ART reports that with S.H. Raza's record breaking work of $3.5 million at Christie's in June his work should be in high demand.  If that is the case, supply is high with 23 lots of Raza's works being offered.

ART reports on 5 important statistics concerning South Asian art.

1. In 2005, more than 80% of the 21st-century South Asian art works offered sold in range of or above their estimates.

2. The highest prices in the South Asian sector tend to go to 20th-century paintings in the 2,000 to 10,000 square inch range.

3. Works by the Indian painter F.N. Souza have accounted for about 12% of the total gross of South Asian art sales since 2005.

4. Demand for work by the Indian artist M.F. Husain is high this year; Husain's sell-through rate is 93% in 2010--a fact that bodes well for Sotheby's Untitled Husain cover lot.

5. The majority of South Asian artists have notable records of exceeding their estimates. Tyeb Mehta's average price since 2005, for instance, is 28% greater than his average mid-estimate.

For more information on ART, click HERE.

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