Love them or loathe them, auction houses sit squarely on the fault line of the Indian art market.

Commercial entities that are criticised for fuelling speculation when prices soar and quietly (and sometimes not so quietly) blamed when the inevitable corrections follow. Yet this fixation on “booms” and “busts” obscures a more fundamental question: beyond the drama of the market, what role do auction houses actually play?

Whether acknowledged or not, auction houses are key players in constructing the market as well as reflecting it, but is that the limit of their contribution? Over the past two decades, auction houses have been instrumental in bringing Indian art and Indian artists to global attention. They decide which artists get seen by a wider audience, how Indian art is positioned, interpreted, and remembered. Their influence extends far beyond the hammer price, reaching into issues of reputation, historical narrative, and cultural access.