By Nii B. Andrews
The auction house, Sotheby’s held its second sale of Modern and Contemporary African Art (CAA) on March 28 in London.
There were works by both emerging and internationally known artists in the sale.
Many new artist records were set; 14 in total.
(Sold for $44,291)
These included Ibrahim Mahama (Ghana), Claudette Schreuders (RSA), Frédéric Bruly Bouabré (Cote d’Ivoire) and Eddy Kamuanga Ilunga (Congo).
The auction featured 106 lots by 66 artists from 16 African countries.
The sell through rate was about 78 percent, with 23 lots going unsold.
According to Sotheby’s, one-third of the winning bids were from the African continent.
The total value of the art sold was USD 2.555038 million.
The mixed media piece CHALE WOTE, by Ibrahim Mahama (Ghana) sold for USD 106,298 (including fees) – an artist record.
The most expensive piece sold was by Akunyili Crosby – an oil on canvas quadruple portrait painting executed in 2005-6 entitled À LA WARHOL; it sold for USD 283,460 (including fees).
Two artists made their auction debuts: Aida Muleneh (Ethiopia) and Ade Adesina (Nigeria); their works also set new artist records.
The head of Modern and CAA at Sotheby’s, Hannah O’Leary, stated that on account of the strong sales Sotheby’s had decided to increase the frequency of the department’s sales.
Two sales of Modern and CAA will now be presented annually by the auction house.
70.5 x 19.7 x 16.5cm; 71.8 x 26 x 27.5 cm; 66 x 35.5 x 28.6 cm. (Sold for $85,038 including fees. Artist record).
Good morning.
Nice to know CAA is moving forward. Happy for artists who made money and hope with increase in frequency of sales more records will be set.
But we must capture the destiny of CAA and seek to control it soon!
Thanks SJ….no better way than to jump in.
Most of the money is probably made by the collectors who own the art.
The artists will benefit too because a higher value for their work has been established at auction.
Thirty percent of the bid winners at Sotheby’s were from Africa.
Hopefully, this will increase quite rapidly then we can have several of our own robust auction houses right here on the continent very soon.
Have a great day.