Artists and connoisseurs of ‘art’ have often found it difficult to convey the value of art. In fact, Edgar Degas once remarked that “art is not what you see but what you make others see”. But, it looks like we are finally seeing it, with ‘art’ emerging to be an interesting asset class. Aura Art and IIM Ahmedabad (IIMA) recently launched an art index after taking into account data of over 9,000 paintings auctioned of about 100 Indian artists over 20 years. Will this be the much-needed launchpad for Indian art and artists to go global?
Join us for an interactive discussion with the creators of IIMA-Aura Art Indian Art Index (IAIAI) as we discuss the evolving legal, commercial and tax landscape concerning Indian art. The session will be followed by a guided walkthrough of the show titled “the line that rules” of paintings by abstract master Yusuf.
Aura Art Development Pvt Ltd
Rishiraj Sethi co-founded Aura Art in 2008, which is well on its way to become India’s leading Integrated Art House – catalysing collection building and management. He actively focuses on research, creating awareness of Art as an asset class, documenting, and valuing collections and promoting artists of calibre. He is now recognised as a thought leader in the art space, authoring various publications. He also jointly developed the first-of-its-kind IIMA-AuraArt Indian Art Index (IAIAI), along with Prof Prashant Das. His entrepreneurial journey has been widely featured and he has won various accolades for professionalising the Indian art market.
Prashant Das is an Associate Professor (in Finance & Accounting Area) of Real Estate at the Indian Institute of Management, Ahmedabad (IIMA). He also serves on the steering committee of the National Housing Bank (NHB) for mortgage securitization; and on the Academic Council of NICMAR University, Pune. At IIMA, he has developed two of India’s first indices on agricultural land price and modern art price. Prashant has earned eleven internationally competitive best research awards from the Journal of Real Estate Research, American Real Estate Society, and Asian Real Estate Society.
Ruchir advises leading global financial sponsors, SWFs and other institutional investors on private equity and PIPE deals primarily focusing on infrastructure and real assets. From being involved in the drafting of the SEBI (REIT) Regulations that formed the very basis of the InvIT Regulations to advising on 4 of the 10 InvITs existing as of date, including setting up of the first unlisted InvIT, he regularly advises on cross-border deals in the listed and unlisted space, with a special focus on control deals conducive for global investors…read more