"It is definitely a good time to invest" in Indian art.

That is the view of Dinesh Vazirani, co-founder of leading Indian auction house Saffron Art.

Speaking with India's Business Standard newspaper, Vazirani explains that he believes the Indian art market is at an "inflection point".

"We've definitely re-calibrated if not gone a little ahead of the pre-crisis level prices at least for the top notch artists," he says.

"Part of the reason for that is supply which is getting lesser as more and more of the older masters go into museum and permanent collections."

Vasudeo S Gaitonde’s untitled work is the new Indian art record holder

Vazirani's comments follow the for $3.7m auction of an untitled painting by Vasudeo S Gaitonde earlier in the month - an auction record for an Indian artwork.

It took place at Christie's first ever auction in India - itself an indication that this is a market on the up.

"The whole perception of value has come back," Vazirani explains of the auction. "This event has brought the curiosity back, so to that extent it was a watershed moment in terms of taking Indian art out of the recession."

Vazirani offers some further tips for would be investors. "Try and learn as much as you can about art by visiting websites, museums and galleries. The more educated you are, the more you will resonate with what's good and what isn't."

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