The art market in India has grown in recent years. Estimates suggest the total worth of artworks auctioned annually amounts to nearly $100 million. An art aficionado who wishes to invest in this asset class, however, faces multiple challenges. It is difficult to get a sense of how the market is performing.
An equity investor can look up the performance of the Sensex to assess if investing in equities is a worthwhile endeavour. In the absence of an index, an art investor found it difficult to make a similar assessment. Until recently, that is. The Indian Institute of Management Ahmedabad