Sale of Picasso art in India
The first ever sale of Pablo Picasso's works in India has received a strong response from art collectors, who bought ten prints and ceramic pieces on the opening day, a news report said on Thursday.
More than 40 Picasso-signed paintings curated by London' Grosvenor Gallery are on display at the Vadehra Art Gallery in New Delhi, the Hindustan Times reported.
At least ten of these were picked up by artists and collectors when the show opened Wednesday, the report said. The show ends March 2.
The gallery did not disclose the exact rate, the report said, but cited unnamed sources saying the paintings went for prices ranging from 500 000 rupees (about R70 000) to 5-million rupees.
The report could not be independently verified.
Investing in art is becoming increasingly popular in India, where a booming economy during the past 15 years has created a class of neo-rich looking for avenues to splurge.
February 9, 2006
