An astounding 10,000 art enthusiasts walked in to witness India’s First International Art Fair, India Art Summit(TM) 2008, firmly establishing it as a one-stop destination for art in India. With an overwhelming mix of art collectors, artists, critics, curators, students and art enthusiasts from across India and overseas, the Summit achieved exactly what it set out to - making art, and the knowledge of art, accessible to a widespread audience. Commercially speaking, the fair clocked in a record sale of approximately 50%, with the 34 participating galleries selling over 280 artworks worth Rs.10 crores approximately. Given that the total value of the 550 artworks on display was approximately Rs. 20 crores, India Art Summit has emerged as one of the most successful first editions of any art fair across the world.

Commenting on the success of the fair, Mr. Philip Hoffman, Chief Executive, The Fine Art Fund said “The Indian market is very important in the global art scene and this fair is a major step. I can imagine this to be major fair in Asia competing alongside London, Miami and Basel in the next 5-10 years. The sales results of the fair seemed very impressive by comparison to other fairs in their first year.”

Applications for participation in India Art Summit 2009 can be submitted at http://www.indiaartsummit.com

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Posted: 09|7|08 at 10:43 am. Filed under: News.