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Despite Recession New Galleries To Be Opened In India
Bose Krishnamachari, Devaunshi and Dia Mehta and Yash and Avan Birla last week opened Gallery BMB, hoping to kickstart the sector by showcasing the best of Indian and international contemporary art under one roof.
The first exhibition, "The Dark Science of Five Continents", features India's Riyaz Komu, Brazilian Tunga, Britain's Jake and Dinos Chapman, Jon Kessler from New York, Nigeria's George Osodi and China's Wang Qingsong.
Most of the installations, photography, video and sculptures have never been shown in India before.
With six to eight shows planned each year, Krishnamachari, the gallery's artistic director, likens it to Indian Premier League cricket and European football, which both attract the best stars from around the world.
"I'm giving them the ball and letting them play," he told AFP.
Although there are now signs of recovery, the global economic downturn has seen the art world hit by gallery closures, the cancellation of art fairs and drastic reductions in the number of works for sale and their price at auction.
Britain's The Daily Telegraph newspaper reported in January that contemporary art sales at Christie's, Sotheby's and Phillips de Pury and Co. fell from 1,064 lots in February 2008 to 437.
The value of art sold through the auction houses dropped from 204 million pounds (334 million dollars) last year to 48.3 million pounds, with the average lot estimate also falling from 234,000 pounds to 102,000 pounds.
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