Let’s talk about art fairs – a place for diverse galleries with a strong focus on sales and networking. This is what helps markets grow, for collectors / enthusiasts to come together form opinions, get a taste of what is popular and upcoming…in essence a trade fair for the arts.
Art fairs have become very popular in the last decade, barring the hiccup due to travel restrictions imposed by the pandemic, where the activity shifted online. The reason for popularity is twofold. The first is of course congregation of some of the best artworks a region has to offer at a single place. Since art is primarily a visual space – the combined excitement of seeing dramatic visuals in a single location creates a sensory experience, which is unique in its impact. The second, and dare we say a more prosaic reason, is that they offer a chance for commercial activity, which is fuelled by choice, interaction of buyers (collectors) creating a heady competitive environment. Of course, this takes place in the backdrop of events, soirees, and increasingly an entire art week with various satellite fairs, gatherings, gallery and institutional events – creating ideal conditions for scale of economies.
Some of the largest, and most sought after, art fairs such as Art Basel, Frieze have international editions in thriving hubs of commercial art. In the last decade many regional fairs in Dubai, Japan, Korea have also gained momentum commensurate with the deliberate actions of their respective government and / or industry forces to push art for public consumption. China here deserves a special mention, with many new fairs tracking the rise of the overall art industry in the region, indicating its increasing global prominence.
Art Dubai – View of Fair Space
India on the other hand has conducted the very successful India Art Fair in New Delhi for the last ten odd years. The fair has retained its quality and success from the time it began. However, the success of the fair has not grown into a larger enterprise or emulated in other major urban and cultural hubs in the country. The reason remains the same….Indian art market has not been able to translate its desirability to a wider public.
India Art Fair at NSIC Grounds in New Delhi
The pandemic has brought to fore the need for what is being termed as a hybrid model. Fair organisers are increasingly offering an online version of the fair in conjunction with the physical presence. The online model runs in parallel to the actual physical event and offers the artworks for sale online from the galleries participating in the fair. It is interesting to note at the online viewing rooms (OVRs) indicate the price of the artworks, as opposed to the market practice of galleries of not divulging prices to a wider public. This transparency has reportedly increased the sales whereby potential buyers feel more comfortable with pricing of the works.
It appears that OVRs are here to stay, in line with the expanding footprint of art sector in the digital space.
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