It is interesting how the concept of art as an investment has caught on all over the country. I have just received material from the TAC gallery in Ludhiana. The city is well known for its hosiery and woollen industry and is now opening its eye to contemporary Indian art. Ludhiana is not alone in this process. Cities like Udaipur, Bareilly, Patna, Indore, Pune, Baroda, Gulbarga, Vishakhapatnam, Kozhikode and Ernakulam all have their communities of contemporary artists at work.

As a result, a wide variety of styles and techniques are being pursued. There is no lack of talent, and now, no lack of its admirers. Over the last decade or so, the Indian art collector has developed beyond the mere looking for something beautiful to hang on a wall to seeking works of significance in our art history. But many lessons have yet to be learned, perhaps the hard way.

Navjot Altaf: Untitled pen and ink on paper (1977)

The first is that the auction, the one-man show, the group show and the mega art sale are very different things indeed. The auction is a venue for carefully chosen rare works of artists who have succeeded in rising above the rough and tumble of gallery shows.

It is also a venue to highlight artists who have been overlooked in the past but whose relevance is likely to be recognised in the present.

It is neither a venue for artists to exhibit nor one for young artists to aspire to. It is essentially a venue for secondary sales and any attempt to make it serve other purposes will harm the market by affecting sales. This has happened recently with the Osian auction.

Then there is the group show. Ideally it should be put together on a thematic basis or should reflect a trend. The group show requires both proper curating and a catalogue or at least a curatorial note. Group shows can be of senior artists or young ones. In general, the two should not be mixed unless they represent a common theme or an ongoing common trend. Merely mixing up levels and trends because ?they look good? will damage the chances of success.

The one man show, whether of a young artist or of a senior one, must reflect the definite development of a theme or a style to a new level. It is not merely an annual event. As such, both galleries and curators must be far more choosy than they are when it comes to one man shows. This goes for senior artists and junior ones.

The one-man show is best accompanied by a catalogue written by a critic who has known the artist for some time and is therefore best fitted to explain the work to the viewer. A proper explanation of an artist?s work in the right context not only of his or her development, but also the general developments taking place in the contemporary artistic environment is essential in the case of the one-man show.

The one-man show, however, ought not to be treated as a retrospective. A retrospective is a show a senior artist undertakes when a phase of life comes to a definite end. The practice of holding frequent retrospectives by senior artists ought to be avoided as it tends to decrease the impact of a lifetime?s achievement.

Young artists ought to avoid a similar exposure as well. Their one-man shows ought to reflect the major trend in their development coming to a peak. Less than this should not be pandered to.

With regard to the mega sale, a Method I noted at the recent Delhi gallery exhibition, where a number of writers got together to write small introductions to single works, which are not only in the catalogue but are also displayed on the wall with the works is a good idea. I do think, however, that one cannot do without an overall perspective which is necessary both for the mega sale as well as for online sales.

With proper documentation, every work will acquire its proper value. Documentation is the best form of value addition for an artwork. And galleries should ensure their works are properly documented, both from the angle authentication and value-addition.

It is necessary to ensure these efforts are undertaken with all seriousness at the moment as art sells relatively less in periods when the share market does better. So this is the best time to get on with documentation, sifting old stocks and picking out the best for the future. Art is a long-term investment and long-term value-addition suits it best. Galleries that make it in time will do better in the future when art sales enter a boom once more.