Indian art market hits decade-high ₹2,543 crore turnover in 2025: Report

India’s secondary art market reached a decade-high turnover of ₹2,543 crore in 2025, more than tripling from ₹792 crore in 2015, as stronger collector participation, higher individual sale prices and rising interest from high-net-worth domestic collectors supported the market’s expansion, according to 360 ONE’s The Collector’s Guide 2026.

Market growth accelerates

The market remained relatively range-bound between 2016 and 2020, with annual turnover staying between ₹620 crore and ₹880 crore. It began climbing steadily from 2021, with growth accelerating through 2022 and 2023. After remaining broadly stable in 2024, turnover surged again in 2025 to reach its highest level of the decade. The report links the rise to increased collector participation and strong individual sale prices.

The expansion comes alongside a broader shift in India’s wealth landscape. According to the report, family offices are becoming increasingly institutionalised, while collecting is evolving into a wider conversation around wealth preservation, legacy and intergenerational stewardship. Art is also increasingly viewed by collectors as a store of value over long time horizons, alongside its cultural and personal significance.

More collectors enter the market

Auction data for 2025 suggests that demand extends beyond the most expensive artworks. Of 5,059 lots offered across Indian artists and categories, 4,057 found buyers, resulting in an 80% sell-through rate.

The ₹1 lakh–₹10 lakh segment recorded 1,699 lots sold, while the ₹10 lakh–₹1 crore category saw 1,287 lots find buyers. A further 700 lots sold for less than ₹1 lakh. The concentration of sales in these segments indicates healthy activity at relatively accessible price points and suggests participation from newer collectors.

Established artists dominate value

While volumes are spread across price bands, established modern and post-war artists remain central to the market’s value. M.F. Husain led Indian artists by 2025 auction turnover at ₹490.3 crore, followed by Tyeb Mehta at ₹307.5 crore and F.N. Souza at ₹274.6 crore.

By period, Post-War Art generated ₹1,647 crore in 2025, making it the largest contributor, followed by Modern Art at ₹701 crore. Contemporary Art accounted for ₹163 crore, while 19th-century art generated ₹32 crore.

Paintings remained the dominant medium, accounting for 47.5% of all lots sold and ₹2,279 crore in value.

The data points to a secondary art market expanding across both ends: landmark works continue to command significant prices, while greater participation at lower price points is broadening India’s collector base.