New Delhi, Sept. 21 -- India's art auction market has grown more than threefold from about Rs.700 crore in 2020 to more than Rs.2,400 crore in 2025 as more buyers, artists and a wider institutional ecosystem made their presence felt in a segment once dominated by a relatively small group of modern masters.

The growth was accompanied by the emergence of a broader ecosystem of galleries, museums and cultural institutions, with several private museums also coming up, Minal Vazirani, the founder of pioneering Mumbai-based auction house Saffronart, told Mint.

The art auction market has already crossed Rs.2,000 crore in sales this year, she said, citing the auction house's own industry data. Vazirani expects the art auction market will double...