The loss of art patronage

Various attempts to build a robust market for contemporary art have seen sporadic initiatives in recent years though their success cannot as yet be easily measured. Why has the market been so resistant to its appreciation and growth? Globally, the contemporary market is on an upswing, but in India — where art appreciation continues to be a huge lacuna — this weakness is a result of its crash in 2008 and subsequent disenchantment with what was largely an investment-driven opportunity. Whatever the historical reasons for that hiccup, there is no gainsaying that it is important .....

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