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Article: Indian art emerges as high-appreciation investment at volatile time.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- September 25, 2008
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BYLINE: Melanie Lee New Delhi
Indian art might be just the solution for investors seeking a safe haven at a turbulent time.
Take a vivid landscape by avant-garde artist Francis Newton Souza hanging on a wall in Indian art dealer Ashish Anand's New Delhi gallery. With a price tag of $400 000 (R3.2 million), the painting might not seem like a bargain, but Anand said it would probably be worth $2 million within two years.
Art dealers and experts said the Indian art market was still undervalued and there was money to be made for those with the means to pay the six-figure prices.
"I think Indian art is a one-way bet in the long term," said ...