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Of the fall and rise of art mart

BBut unlike the others, ECA (as it prefers to label itself) is hoping to leverage transparency and tax rebates to its advantage. Kolkata, unlike other centres, does not levy the 12.5 per cent VAT on art, thereby saving collectors a chunk of money in the process.

In addition, says Vikram Bachhawat, director, "We will not accept any works from contemporary artists that are less than three years old" -- traditionally, works wet with paint from artists' studios have been consigned to auctions -- "and except in the rarest of cases, will not accept anything for auction that has itself been auctioned within the previous seven years."

That, should you be curious, is to kill speculation and quell prices in an already heated market. "We want to build our collector base, not the investor base," he says, with the sort of idyllic vision on which the art movement of Bengal was first raised.

Recent work by Manoj Vyloor Also read: 4 tips on investing in art

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