Growth of Art Auction Houses in India in the Last Decade

Abstract

Art Auction Houses are companies that allow the buying and selling of sought-after art pieces and collectibles. Today, the popularity of auction houses is growing at an extraordinary speed all over the world. There are a plethora of reasons for this fast growth. Some of these are access to popular and desired artworks, transparency in demand and pricing, and a simple purchasing process. In the last decade, India has seen unparalleled growth in art auction houses with a rise of about 265%. In addition to the boom in sales, the prices of the artworks have almost doubled.