The Indian secondary art market experienced unprecedented growth in 2025, reaching a decade-high turnover of ₹2,543 crore. This significant figure represents more than a threefold increase from its ₹792 crore valuation in 2015, according to 360 ONE’s The Collector’s Guide 2026.
Accelerated Growth and Market Dynamics
After a period of relative stability between 2016 and 2020, where annual turnover hovered between ₹620 crore and ₹880 crore, the market began a steady climb from 2021. This upward trajectory accelerated through 2022 and 2023, culminating in the record surge in 2025. The report attributes this robust expansion to heightened collector participation, notable individual sale prices, and increasing interest from domestic high-net-worth individuals (HNIs).
Beyond its cultural significance, art is increasingly viewed by collectors as a crucial store of value over extended periods. This shift aligns with broader trends in India's wealth landscape, where family offices are becoming more institutionalized, and art collecting is integrated into wider discussions about wealth preservation and intergenerational legacy.
Broadening Collector Base
Auction data for 2025 reveals a vibrant market extending beyond just the most expensive pieces. Out of 5,059 lots offered across various Indian artists and categories, a remarkable 4,057 found buyers, resulting in an impressive 80% sell-through rate. This indicates healthy demand and a broadening collector base.
- The ₹1 lakh–₹10 lakh segment saw 1,699 lots sold, suggesting significant activity among emerging collectors.
- The ₹10 lakh–₹1 crore category recorded 1,287 lots sold, demonstrating strong mid-market demand.
- An additional 700 lots sold for less than ₹1 lakh, further indicating the continuous entry of new collectors into the market.
Dominance of Established Artists and Mediums
While sales volumes span various price points, established modern and post-war artists continue to command the highest value within the market. M.F. Husain led Indian artists by auction turnover in 2025 with ₹490.3 crore, followed by Tyeb Mehta at ₹307.5 crore and F.N. Souza at ₹274.6 crore.
Key Contributions by Art Period:
- Post-War Art: Generated the largest share, contributing ₹1,647 crore.
- Modern Art: Accounted for ₹701 crore.
- Contemporary Art: Added ₹163 crore.
- 19th-Century Art: Contributed ₹32 crore.
Paintings remained the dominant medium, making up 47.5% of all lots sold and representing a substantial ₹2,279 crore in value. This data underscores a dynamic secondary art market that is expanding at both ends, with landmark works fetching significant prices while a growing base of new collectors engages with more accessible price points.