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Indiatimes To Host Online Art Auctions; Saffronart.com Auction Does Rs.70 Crore In Transactions

Times Internet Ltd is venturing into the business of online art auctions: they’re launching Indiatimes Art. As per the catalogue, works on sale include those of Rameshwar Broota, F.N.Souza and Sunil Padwal. The online gallery will also host work by Jiten Hazarika, Tapan Ghosh, Beena Pradhan, M.F.Husain and others. All those bidding need to pre-register (by email, no form) and provide satisfactory identification information.
According to the Economic Times, the site will act as a guide to art, though I just don’t get the ‘mutual funds’ analogy mentioned in the article since Indiatimes Art doesn’t seem to be an art-fund. The guides, who users can interact with, will include Keshav Malik, Rameshwar Broota, Gopi Gajwani, Anjolie Ela Menon and others. For the venture, Indiatimes Art has tied up with art galleries.
But why “Indiatimes” Art? One possible reason could be that they wanted to attach a familiar name, and perhaps give users a sense of security in familiarity.
In related news – Moneycontrol.com reports that Saffronart.com‘s two day online auction saw “over 14 works sold”, and Rs.70 crore transacted
Related:
Saffronart.com Kicks Off Winter Auction Of Paintings Online

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