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Re: Dinesh Vazirani (MBA 1994); By: Julia HannaTopics: Arts, Entertainment, RecreationSociety-Civil Society or CommunityMarkets-Auctions
Open Canvas
Re: Dinesh Vazirani (MBA 1994); By: Julia HannaTopics: Arts, Entertainment, RecreationSociety-Civil Society or CommunityMarkets-Auctions
Open Canvas
ART WORK:
Building online auction house Saffronart has been a 25-year labor of love for Dinesh Vazirani and his wife, Minal.
(Photo by Rema Chaudhary)
People told Dinesh Vazirani (MBA 1994) he was crazy. In 2000, he and his wife, Minal, cofounded Saffronart, an online auction house focused primarily on Indian art. With internet penetration in India low at the time, Vazirani traveled the world to conduct physical shows and sales, an investment “that kind of broke our backs because it was so expensive,” he recalls. In 2003, on the brink of collapse, the Vaziranis sold most of their private art collection to bootstrap the business. It was a turning point, allowing the time to capitalize on the trust and momentum created by those in-person events. Today, Saffronart has expanded to jewelry, furniture, and antiquities, with galleries in Mumbai, Delhi, New York, and London. In 2024 it held 75 hybrid and online auctions, generating $51 million. “Each painting and object is different, which is so exciting,” says Vazirani, who studied fine art and engineering in college and has exhibited his own work in Mumbai and Delhi, donating the proceeds to charity. “Art represents nonviolence, or ahimsa in Hindi. Every piece evokes a story, a memory, an emotion, which might change over time. It’s a journey of discovery.”
Two years ago, noting Mumbai was the only major international city without an annual art fair, the Vaziranis launched Art Mumbai, a multiday celebration. Vazirani has other visions, too: a museum, an art-themed hotel, an arts club, and an arts school, for starters. “I don’t think you can build anything in a niche space that requires expertise without passion,” he says. “It’s not possible otherwise.”
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