Who Buys Indian Art?

“The biggest buy base for Indian art is Indians or those who belong to the Indian diaspora,” said Ms. Kirpal.

Priyanka Mathew, a specialist in modern and contemporary Indian art at Sotheby’s auction house, agreed that “the majority of collectors are from India or non-resident Indians,” something she explained with reference to the limited exposure people outside the country have to Indian art.

But within this category of buyers, things are rapidly changing. As India’s economy is growing, so is the portion of the population that can afford to invest in art. This means many buyers are actually new to the art market – something that was reflected in last year’s summit when around 40% of sales went to first-time buyers.