Investors are increasingly recognizing art as an investment asset class ‘bringing sophistication into how’ people plan their finances and estates. The concept of art as a bankable asset is now commonplace. In Deloitte’s view, taking a closer look at the current trends in the art market, the emergence of a brand-new asset class for art will be financially benefiting in nature.
Economic Times India Leadership Council recently hosted a conversation on ‘Art as an Asset Building Tool in Today’s World’ with Kiran Shiv Nadar who is an Indian art collector and philanthropist.
Ms Kiran Nadar, wife of Shiv Nadar, the founder of HCL Technologies, is a trustee of the Shiv Nadar Foundation and the founder of the Kiran Nadar Museum of Art. Her fascination in collecting artworks began in 1988 when she was purchasing pieces for her home. In 2005, Ms Nadar decided to open her own museum to house her vast collection of art.
In 2010, Ms Nadar was acknowledged by Forbes Asian Magazine as a “hero of philanthropy” thanks to her launch of India’s first private philanthropic museum. She is considered the ‘maharani’ of the Indian art world, owing to her collection of 5,500 and more modern Southern Asian arts. She is also an international council member of the Museum of Modern Art (MoMA) in New York.
Watch the video to see a snippet of what the conversation was about.