Category : Solved Papers
Posted by Study Adda Mon, September 19th 2011
Exciting careers in the art business
The demand for youth educated in art history, appreciation, and administration is at an all-time high. Suddenly career prospects in this booming new industry have become hugely rewarding A mere blip on the global art scene until recently, contemporary Indian art is suddenly ubiquitous—at Christie's, Sotheby's, Bonhams among other international art auction houses. At a Christie's auction in September 2005, Mahishasura, an oil canvas by Tyeb Mehta sold for an unprecedented Rs. 7 crore. In March 2007, an untitled work of V.S. Gaitonde and several paintings of the late Amrita Shergil were purchased by an Indian collector for Rs. 6.9 crore — a price 6,900 percent higher than the Rs.10 lakh they had been sold for in 1992. Currently the annual turnover of India's art trade is estimated at a mind-boggling Rs. 5,000 crore of which more than 60 percent is contributed by international auction houses. With fortunes in India's burgeoning art mart multiplying, the bandwagon is getting crowded. Art galleries are mushrooming countrywide and indigenous auction houses such as Osian's and Saffron Art are earning huge commission incomes. Even several art funds are in the pipeline including an Osian's mutual fund for art. Osian's Pvt Ltd, a high profile Mumbai-based art evaluation and auction firm, recently sold five percent of its equity to an American fund for Rs. 11.2 crore
which gives this company promoted in 2000 by art entrepreneur Neville Tuli, a valuation of Rs. 224 crore. Little wonder that the demand for youth educated in art history and administration is at an all-time high. Suddenly career prospects in this new industry have become exciting and rewarding.
STUDY PROGRAMMES. Against this backdrop it's hardly surprising that there's a rush of interest in art appreciation, art history, and art administration study programmes. Among the most reputed art study programmes are the Master's in art criticism and art history offered by M.S. University, Baroda; the 12-month programme in Indian art and aesthetics offered by Mumbai University and the BA and MA degree programmes in art history and studio practice of Stella Marts College, Chennai. However, a large and growing number of art-oriented youth study abroad where a plethora of programmes are offered by universities and auction houses such as Sotheb/s and Christie's, whose short-term art appreciation courses are highly reputed and offer the prospect of immediate employment. Moreover Osian's is planning a university for the arts in Delhi, which will offer study programmes in art history, appreciation etc. For well-qualified professionals start-up salaries in Indian galleries and auction houses are a handsome Rs. 25,000-40,000 per month. "A whole new market has emerged for art and artists in which
buyers are becoming increasingly savvy. However, investing in a painting is a complex transaction demanding hard-nosed diligence and an emotional connection from buyers. This is not very easy
in a market where art education is negligible and where support infrastructure such as a credible price index, insurance, informed literature, and indeed the auction itself is nascent," says Shireen
Gandhy, the knowledgeable proprietor-director of Gallery Chemould, a pioneer and highly respected art house-cum-gallery in Mumbai. Born into a family steeped in the creative arts—her father, Kekoo Gandhi, a doyen of the Indian art movement founded Gallery
Within the jehangir art gallery )ln 1963 – immediately afte being awareded her BA degree from Sophia college in 1987 Gandhay empland for London where she completed a one-year postgraduate diploma course in art administration at City University. Following her return from London and incremental involvement in the family business, Gallery Chemould has grown from strength to strength. "I intend to curate every exhibition differently by reflecting each artist's personality and thus the character behind the canvas. We also organise lectures, art events and catalogues to educate people about artists and art," she says. Supported by a highly trained staff of eight personnel, Gandhy is the first Indian gallery proprietor to participate in major international art fairs. According to Gandhy, job opportunities galore for youth with professional training in art appreciation. "There's growing demand for professionals who can understand and manage temperamental artists as well as clients who require expert advice on art purchasing. Galleries also have to be well maintained and administered to inspire confidence. Therefore for multi-faceted professionals working as gallerists, art dealers, consultants, or auction house professionals, the pay and work conditions are excellent," says Gandhy.
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