Click to play videoNew Delhi: The art world is keeping the spirits high, art openings are still alive with action but the art market is not just facing a mere correction but is now feeling the heat.
Sit tight before you think of a re-sale of the paintings you own. The slowdown has finally hit the art market in India but since it's just a phase, is it right to say that the masters' prices have dipped?
"There is a great drop; people do not want to buy expensive art but lovers still buying, not much for investment now though," says Owner, Palette Gallery, Rohit Gandhi.
“We must understand Hussain or Souza belonging to a certain period those originals still demand sterling price today what is truly real will survive, what’s not, will die," says Art Critic, Uma Nair.
If the best works of the masters aren’t hit as bad, it's actually the second or third rung artists who made a start with the rising wave of the market post 2003 feeling the heat.
And it’s not really for the buyers to feel their head on the line. Just play the waiting game till the market bounces back.
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