Browsing: African art investments

Renaissance: African art investments soar to new heights in 2022. www.theexchange.africa
  • According to Statista, Africa contributed a sum of US$13 B in 2018 to the global art market which is predicted to rise to US$15B by 2023
  • African art has become the subject of bidding wars, with high sales of artworks pertinently at globally renowned auction houses such as Bonhams, Piasa, Christie’s, Sotheby’s, Strauss and Philips
  • International African sales in the first half of 2019 by Christie’s, Bonhams, Sotheby’s, Phillips, Piasa, Strauss and ArtHouse Nigeria; generated a total of US$25.3 M
  • The major roadblocks to accessing arts education in Africa are the lack of sufficient learning institutions and enough trainers

Demand for African art has been firmly taking root, perpetuating the newly found global prominence and recording a meteoric rise that is projected to continue growing exponentially in 2022.
Consequently, this market boom has been rapidly driving colossal investments from both indigenous and international investors, rushing to tap into the fairly…