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Returns on Indian Art during 2000–2013

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  • Jenny R Hawkins

    (Department of Economics, Weatherhead School of Management, Case Western Reserve University, 10900 Euclid Avenue, Cleveland, OH 44106, USA)

  • Viplav Saini

    (Department of Economics, Oberlin College, 10 N. Professor Street, Oberlin, OH 44074, USA)

Abstract

The market for modern Indian art is an emerging art market, having come into a proper existence only in the late 1990s. This market saw tremendous growth in its initial years, then a downturn that started around 2007–2008. Using data from auctions conducted by a major Indian art auctioneer, we estimate via hedonic regression a price index for paintings and drawings by Indian artists sold during 2000–2013. We are able to thus estimate a rate of return on Indian art as an investment and also shed light on what drives the price of a painting in the Indian market.

Suggested Citation

  • Jenny R Hawkins & Viplav Saini, 2016. "Returns on Indian Art during 2000–2013," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 42(2), pages 302-310, March.
    • Handle: RePEc:pal:easeco:v:42:y:2016:i:2:p:302-310
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    Cited by:

    1. Tim R. L. Fry, 2020. "Heterogeneity in Auction Price Distributions for Australian Indigenous Artists," The Economic Record, The Economic Society of Australia, vol. 96(313), pages 177-186, June.

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