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Nkechi Ebubedike | Woman with Diamond, 2020

The Market

Contemporary African art is seeing a surge in demand. The breadth and brilliance of it, is commanding a special place on the international art scene.

A BRIEF OVERVIEW

African Art

In 2019, a painting by Nigerian artist Ben Enwonwu titled Christine (1971), missing for 40 years before it was discovered in a London apartment, leaped beyond its pre-sale high estimate of £150,000 ($192,000), selling  at Sotheby’s for £1.1 million ($1.4 million).

Over the past decade, contemporary art from Africa and its diaspora, has seen a dramatic rise in interest on the global art scene. Artists, sculptors and photographers from the continent have gained increasing attention and international acclaim amidst soaring prices, as private and institutional buyers hope to see the same growth trajectory and price rises, as was seen in the contemporary Chinese Art market. 

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Ben Enwonwu | Christine, 1971 

Eclectic. Exciting. Stimulating Intercultural Dialogue.

Demand for contemporary African Art is very high. The breadth and brilliance of African artwork; paintings, sculptures, prints, and photography in different genres emerging from the continent, has been capturing the attention and imagination of both new and discerning art collectors around the world, more than ever before. African art has cemented its place as one of the most eclectic and exciting areas of the global art market today, with artwork now regularly exceeding sale estimates at auction. 

 

The African art market is also stimulating intercultural dialogue and discussion, facilitating cultural exchange and engagement with diverse audiences. Today's multicultural society mandates organisations to seek more authentic engagement with diverse cultures. African art represents a brilliant opportunity for organisations who wish to be ahead of the curve. 

Shifting Perceptions. Challenging Clichés.

Experts say African art is much undervalued. and indeed, until the end of the 20th century, African art was almost entirely overlooked by the Western art canon. Today, artwork from African artists is still largely under-appreciated and overlooked on the international modern and contemporary art scene. Many argue that the dialogue on the African art market, is often intermingled with convoluted ideas about Africa, negatively impacting the perceived value of the art and thereby creating a disparity in the appreciation of it, in comparison to art from the rest of the world.

 

Still, interest in contemporary African art has never been higher, and The African Art Series was birthed by a passion to contribute to shifting perceptions of Africa. The primary objective of this initiative, is to inspire positive perceptions of Africa through expertly curated showcases; challenge clichès, preconceptions and misconceptions, and thereby promote more positive dialogue about the continent. The goal is to facilitate more conversation on African art as an exciting landscape for investment with both new-generation collectors and seasoned art connoisseurs alike.

"Despite steady growth, the contemporary African art market still represents less than 1% of the total global art market. This potentially places Africa as the final frontier within the art market landscape. Excitingly so, opportunities in collaborative initiatives and partnerships are driving innovation and growth in the African art ecosystem"

Touria el Glaoui, Founder, 1-54 Art Fair

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Lanre Olagoke MBE | Africa My Beloved, 2016-2018 

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