The Hindu Business Line : Art smart deals

Art, say those in the know, will be the next big market buzz for intelligent Indian investors. That could explain the impulse that propelled Ati art gallery from Delhi to bring 33 works by 20 artists to Bangalore's brand-new Istara gallery space recently in a show titled `Absolute Abstract'.

In association with the Chivas Art Experience, presented by HSBC, what connoisseurship does Ati's founder-art consultant Poonam Sarin have after 12 years in the business? Why would she choose works by Anwar, Gopi Gajwani, Amitava Das and Prabhakar M. Kolte for their first southern foray, in an art zone that has long celebrated the abstractions of Achuthan Kudallur, Adimoolam and Viswanadhan?

A homemaker who loved art, Poonam represents the new breed of art entrepreneurs, propelled more by passionate engagement than schooling. She travelled globally with her husband, a commercial pilot, visiting galleries and exhibitions whenever possible.

That's how Ati was born about 14 years ago, as she set out to help promising young artists like Kolkata's Animesh Dutta and Debashis, and Delhi-based Asit K. Patnaik to find a market. Her svelte daughter, Aarti Sarin, is its art business head, following a stint at Star TV and a management course.

Art by consultation

"Earlier, people were not buying paintings for investment," explains Poonam, who's 50-plus. "They bought because their houses should look beautiful. Today, designers decide what kind of colouring is right for artwork. That's a pity."

Ati's progress has been partially propelled by consultancies to the Prime Minister's Office, the Taj Hari Mahal hotel at Jodhpur, the Taj Exotica at the Maldives, Hewlett-Packard India and so on.

"I'm not doing this to sell art, but because I love art," declares Poonam. "I cannot answer buyers who look at a painting and ask: Are you sure this will double or triple in value?"

Over the past six months, Ati has introduced two Art Walks `for pleasure and investment' to Delhi, a notably conservative city in art terms, as the Sarin mother-daughter duo confess. Its highlights range from the difference between an oil and an acrylic to `The Bombay Boys,' the in-focus group that includes Bose Krishnamachari and Chintan Upadhyay.

"We invite 30 to 40 clients," explains Aarti, referring to an audience that includes bankers and corporate head honchos. "We get an art critic or historian to do a talk on literally the ABC of Indian art. Where does a client start? What's an authenticity certificate? What is a lithograph or a watercolour? How does a gallery differ from an auction house? Where do we source our art from? Often customers are willing to buy any work, as long as the money multiplies. But the truth is: you must appreciate art that you buy because you might be living with it for the rest of your life, even as an investment. If you don't love it, then don't buy it — unlike a property or a blue chip share."

The portfolio

Ati provides this service with a nod towards its regular clientele. They include Kavita Varadaraj and Shanti Srinivas of Coimbatore's Premier cotton mills, mining giants from Hospet, investment banker turned bestselling author Lavanya Sankaran, even radiologist Arjun Kalyanpur. Ati often engages artist couples like Subroto and Nupur Kundu to light the way. Some may respond by investing in art, while others treat it as lessons in life.

Whom does Ati's portfolio represent? Over time, they have dealt with major names like Satish Gujral, Jatin Das, Paresh Maity, Sanjay Bhattacharya, Manu Parekh, Pulak Biswas, and Amitava Das. These creative spirits, of course, are today placed against a backdrop where, beyond auctions and art camps, M.F. Husain and Tyeb Mehta sell for crores.

They also usher in another generation between 30 and 40, "into Calvin Klein, blue hair and all that," a group that travels abroad, has sold-out shows, and pegs their prices sky-high. But are they in the same league as Krishen Khanna, Akbar Padamsee or Hebbar, who are exhibited at museums, asks Aarti.

Judgements on art tend to be particularly subjective. So, how does the gallery bridge the gap between the artist and their clientele? "We do commission artists to do works for our clients," says Aarti.

"Our clients can define the size, maybe the palette also," adds Poonam. "We promise our clients they will get a work from the artist."

That's a statement that might shock true blue art practitioners. Would any self-respecting creator subjugate his/her creativity thus to big-time commerce?

What, then, is Ati's USP? "Our gallery is only open by appointment. You have to know us. We don't advertise," explains Aarti. "Ati works by referral. At shows, we only invite clients whom we've worked with or who've been referred to us by others we know. We have 2,500 sq ft of gallery space at Maharani Bagh, but at any given time, we never have more than one or two customers with us ever. We give them dedicated time."

Young and experimental

Aarti adds, "A previous Delhi generation, in their 60s now, bought Hebbar-type art, while the 30-plus lot are more experimental, interested in neon colours, pop art, maybe abstracts. How appealing is it to their eye?"

At a time when traditional painting and sculpture are considered passé, would their clients be willing to collect installations, video art or recordings of performance artists? "Yes, our younger clients would. They will do their homework about such artists before they return. But the older lot would close their doors to such ideas," she adds. "Mumbai and Bangalore are much more open to experimental art than conservative Delhi is. But we don't yet have a sense of the market in Bangalore."

While Ati and other art entrepreneurs gauge the great Indian art mart, investors are spoilt for choice. Their time for intelligent art-smart buys could begin now. Or so those with financial savvy indicate.

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