Art Radar Asia

Contemporary art trends and news from Asia and beyond

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    Art Radar Asia News conducts original research and scans global news sources to bring you selected topical stories about the taste-changing, news-making and the up and coming in Asian contemporary art.
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Posts Tagged ‘Indian art news’

Indian art consultancy threatens to sue US-based internet platform Ning

Posted by artradar on October 7, 2009


INDIAN ART NEWS PUBLISHING DISPUTE

The art world in India is being rocked by accusations of libel and defamation and a blog platform in California is being drawn into the battle.

Copal Art, a consultancy in India which provides modern art sourcing services, is threatening California-based service provider Ning with legal action if it fails to close down the publication of blog news site Indian Art News on its platform.

In a letter dated September 4 2009, Indian solicitors S. Jalan and Company served Ning with a Notice of Defamation in which it is claimed that founder Deepak I Shahdadpuri uses Indian Art News to ‘continuously promote scandalous and unfounded and unconfirmed articles against our Client with the malicious intention to defame our Client’.

The letter alleges that ‘it is incumbent (on Ning) as a vicarious liability to check …the unfounded articles’ and calls upon Ning to block Indian Art News from access to its services. Indian Art News denies all allegations.

Indian Art News was founded in 2005 and has more than 600 email subscribers.

Editor’s note:

Art Radar Asia is intrigued by the questions raised: Where is the crossover point between art criticism and defamation? And in this new era of virtual publishing, is an internet service provider also a publisher? Does a blog platform share liability if a news site it hosts is libellous? On what grounds can a third party require a platform to close down a site which it hosts? Do the grounds alter in different geographical jurisdictions?

Indian Art News is one of the sites which provided the initial inspiration for Art Radar Asia. We hope that all three parties are able to resolve differences as soon as possible and with minimal damage.

Read more at Indian Art News.

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Posted in India | Tagged: , , , , | 1 Comment »

Indian art market confidence falls in latest ArtTactic survey – Indian Art News

Posted by artradar on November 1, 2008


INDIAN ART MARKET CONFIDENCE

The financial markets around the world are gradually recovering from a cardiac arrest, the banking system is being rebooted with help of government intervention and nationalisation. Most Western economies are heading for a recession. Emerging markets such as India and China have not been spared either, and the short-term economic outlook is highly uncertain.

Sentiment shift began May 2008

Now, this is the context in which the art market must be analysed. ArtTactic’s India Confidence survey in May 2008 signaled a shift in the sentiment, as respondents turned negative on the economy – 6 months after, the negative mood has now hit the Indian art market.

Confidence falls 23% May to September 2008

The recent confidence survey conducted in September 2008, showed that the overall ArtTactic Indian Art Market Confidence Indicator fell a further 23% from the last reading in May, which has resulted in a combined fall in the Indian Art Market Confidence of 34% since October 2007.

The ArtTactic Indian Art Market Indicator has been hit by 38% drop in the confidence in the economy, which is a further deterioration from the 54% decrease experienced between October 2007 and May 2008. Hence the economic component of the indicator has fallen 71% since October last year. This has to be viewed in the light of The Bombay Stock exchange (SENSEX) having lost more than 50% of its value between October 2007 and October 2008. With inflation levels at close to 12% and weaker industrial production numbers for August 2008, the Indian economy is feeling the gravity of the global crisis – a sentiment that is now starting to find its way into the heated Indian art market.

Speculation cited as cause

ArtTactic’s recent survey shows a significant fall of 36% in the Indian Contemporary Art Market Confidence Indicator, which reached its height in May 2008. The loss in confidence has been largely caused by speculation (73% of respondents saying this the biggest risk to the contemporary Indian art market), and rapidly rising prices of younger, still unproven contemporary artists, combined with a much weaker and uncertain economic climate.

Future?

So what does this mean for the future of the Indian art market? The changes are likely to take place on different levels. The most immediate; art prices and value of Indian art works will come under scrutiny, which is evident by recent results from auctions in London, New York and Hong Kong.

In the medium term there needs to be a re-assessment of the Indian art market, and questions around artistic, historic and cultural importance need to be debated, discussed and contextualised. The Indian art market desperately needs a non-market/ non-commercial reference frame for which it can questions its validity. The market needs more long-term players, particularly art collectors.

On the positive side, the Indian art market boom has laid the foundation for a healthier, second Indian art market cycle. The emergence of institutions such as the Devi Foundation are necessary, but one needs many more – as a single institution runs the risk of becoming an instrument for another speculative boom. The market needs a wide range of ‘voices’ that can maintain the checks and balances, and ensure that the value of art has a foundation outside the commercial market.

However, one should remain positive. Whilst the market will go up and down, artists and art will not cease to exist. Contrary, a difficult environment is likely to be more conducive for art production and creativity. It is in this new cycle, where the real, long term value of Indian art will be established.

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Posted in Art Index, Collectors, Indian, Market watch | Tagged: , , , , , , , , , , , | 1 Comment »