The National Consumer Disputes Redressal Commission, presided by Subhash Chandra and Sadhna Shanker(member), held that for a consumer forum to establish a defect, an expert report from an expert.
Why art could be a good investment during pandemic
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Market share of online sales for art in 2020 exceeded that of general retail.
The market value of global art decreased significantly in 2020 over the previous year due to the impact of the Covid-19 pandemic. Art and antique sales value worldwide dropped from over $64 billion in 2019 to a little over $50 billion in 2020, a whopping 22 per cent decline, states The Art Market 2021 report published recently by Art Basel and UBS. The steep drop is because of the cancelled auctions and in-person events.
However, on a positive note the art market’s share of online commerce in 2020 exceeded that of general retail with art market sellers doing fully one-quarter of their business online at $12.4 billion (outstripping the 18 per cent share for retail generally). That number is up from just 9 per cent in 2019. If we compare this with previous year, online sales figures for art had taken the previous six years to double.