Karan Johar Opens Up About Costly Art and Watch Purchases He Now Regrets
In a candid interview, renowned Bollywood filmmaker Karan Johar has revealed significant financial regrets tied to his past acquisitions of luxury items and artworks. The director, known for his extravagant lifestyle mirroring his cinematic characters, shared details about purchases that have since lost their value or purpose.
Luxury Watches and Artworks: Investments Gone Awry
Johar recounted spending substantial sums on high-end watches during the early 2000s, a period marked by lavish spending. However, he admitted to never wearing these timepieces, ultimately giving them away due to their lack of utility. "All the watches I bought in the 2000s... I regret buying all of those. I don't wear watches. I spent a lot of money and gave them away because I don't wear watches. I regret all that," he told The Hollywood Reporter India.
More notably, Johar discussed his art investments, specifically paintings from an artist who was later imprisoned. He disclosed acquiring multiple pieces from this artist, only to find their value plummet to zero after the legal troubles. "At one point I bought five of his pieces and now he is in jail, so they have no value. So I regret that as well," Johar explained, highlighting how the artist's incarceration rendered the artworks unsellable and worthless in the market.
Father's Skepticism and a Pricy Raza Painting
This is not the first time Johar's art purchases have drawn scrutiny. On his talk show Koffee with Karan, he recalled an incident from over two decades ago when he bought a painting by renowned artist SH Raza for Rs 5 lakh. At the time, his father, Yash Johar, a straightforward man, questioned the exorbitant price. "My father was a very simple man and I asked him for Rs 5 lakh to buy an artwork from Raza. And he was like 'Rs 5 lakh? There's art for Rs 5 lakh?'" Johar shared.
Yash Johar later expressed his blunt opinion in Punjabi, suggesting that even set designers could have created something similar, making him wonder why he paid such a high amount. Ironically, Johar noted that the Raza painting has since appreciated significantly, now valued at 50 times its original price, contrasting sharply with the worthless pieces from the imprisoned artist.
Reflections on Extravagance and Value
Johar's revelations underscore the unpredictable nature of art investments and the pitfalls of impulsive luxury spending. His experiences serve as a cautionary tale about how external factors, such as an artist's legal issues, can drastically affect asset value. While some purchases, like the Raza artwork, have yielded returns, others have resulted in total loss, emphasizing the risks involved in high-stakes collecting.
This insight into Johar's personal finances and regrets adds a layer of vulnerability to his public persona, showcasing that even Bollywood's elite are not immune to financial missteps. The story resonates with broader themes of wealth management and the fleeting value of material possessions in the entertainment industry.
