Prospects Improving for Emerging Artists from the Middle East, India and Asia

Posted by Original Fine Art Gallery at 4/21/2008 5:57 PM and is filed under Art in the News

Prospects Improving for Emerging Artists from the Middle East, India and Asia


Art investment funds have recently begun to diversify their holdings away from Western artists toward the more affordable art of the Middle East, India and Asia. Auction results for artists from these areas have recently begun to show strong year-over-year growth. 

New records are being set for Asian Art, particularly Islamic art at auction. An Islamic iron key, dating from the 8th century, recently sold for a record price in New York, despite recent and ongoing financial travails. The key fits a lock found on the door of the Ka'aba in Mecca. Sales growth rates of Islamic art are rapidly approaching those of Chinese art which have been on a tear for some time. 

With plans for a Guggenheim and Louvre Museums to open in Dubai within the next few years, it's no surprise that fund managers view the region as a natural for art investment. And it's not only antiquities that are receiving the greatest attention at auction, although naturally they are doing quite well.  Emerging artists' work has been very strong of late; an Iranian artist broke the million dollar level just last week.

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