| A portfolio of equity, property and jewellery for wealth creation is a road normally taken for creating wealth, though this is the normal, it does not stimulate ones finer senses, nor does it offer correction free returns . Rishiraj Singh Sethi promoter of Aura Art House and an integrated arts investment consultant introduced Arts as an asset class for Wealth Generation to members of Ludhiana Management Association in an interactive presentation. Rishiraj shared that while Investing in Art as an alternate asset class is preferred in the West for centuries, in India it is in the nascent stage. He advised LMA members to be open minded to the opportunities in this arena, as currently the valuations were low, and an investment in this class promises a return much higher than other assets which are prone to corrections in prices on a cyclical basis. While globally Art as an Investment Class was preferred, in India Jewelery, Real Estate and Equities were preferred being Tangible and easier to understand.
Rishiraj maintained that investing in art could be the next big story, with the wealth creation cycle gaining momentum and an ever increasing interest in 'investments of passion', in assets where the act of investing is as important as the return one expects from it. Though the value of the works of top end Indian artists have grown tremendously in value over the last decade, the highest priced Indian painting ,Rs 29 crore for an Indian artist VS Gaitonde is less than 1% of the value of the highest priced International painting ,Rs 2,940 crore for a Leonardo da Vinci. This clearly suggests that there is significant headroom for Indian art market to grow as we see more and more Indian as well as global collectors adding Indian art to their collections. Rishiraj a CA by profession, with a successful stint at Arthur Andersen and E&Y shared, he started investing in arts only from the perspective of financial returns, but over a period of time, it is more an activity of passion that stimulates search for outliers which yield exceptional returns. He also traced the History of Indian Art, introduced famous Artists, shared tips about Investing in Art, explained his rationale for being bullish about the Indian Art Market. To spot a Multi Bagger, an investor should invest in an artist, be a part of his journey as he matures from being a promising artist to a celebrity.
LMA President Kamal Wadhera thanked Rishiraj for introducing Investment in Arts as a rewarding and also a highly satisfying option, which for most was an enigma or an indulgence. Dr.Mrs Paramjit Kaur, General Secretary, Dr. Sanjiv Kapoor & S.S. Bhogal also spoke during seminar.