A SUSTAINED INTEREST IN AFRICAN ARTISTS

By Nii B. Andrews

Current trends indicate that African artists are a hot sub segment of the contemporary Art Market.

The analysis of the annual sales figures reveal very good results for their pieces which are increasingly sought after by astute collectors  and museums.

Even though prices for contemporary African Art (CAA) continue to rise rapidly, the market is still young and represents an excellent starting point for new collectors.

A good starting point translates into works sold for less than £5 000 (USD 7 500).

In the case of CAA, excellent work is still available at a fraction of this cost….but perhaps not for much longer.

An example is the work of Pieter Hugo.

Between 2012-16, the photographer’s auction price grew by 93%, with the number of lots offered increasing by more than 78%.

These significant value increases are also mirrored by current prices for the work of prominent Ghanaian artists- Ablade Glover, Owusu- Ankomah, Ato Delaquis, George Afedzi Hughes, and Amon Kotei.

Others include Wiz, Max Boadi, Anane Asare and Kwadwo Ani.

At the just ended 1:54 CAA Fair held in London as part of Frieze Week, a 2010 Godfried Donkor painting, “St. Bill Richmond- The Black Terror”, was reported (by the NY Times) to have been sold by Ghana’s Gallery 1957 for £17, 500.

Another large mixed media apartheid era painting by Bambo Sibiya was sold by the Jack Bell Gallery for £12 000.

These trends augur well for brilliant young African artists, enterprising young collectors and established collectors and dealers.

Things will heat up and get much better as the African middle class becomes art smart and understands the difference between art and craft and the significance of each.

They could then enter the art market- as is happening in Latin America and as has happened in China and Vietnam- and make it robust and spectacular.

There should be no doubt that CAA is indeed a capital asset.