More than any other market, the African art sector is seen today as one of the fastest-growing markets with interest at a global level. Collectors and art lovers see in African art the potential for investment with great returns in the short and medium terms. In comparison to European and American art where the market is stable and investment is carefully planned, investment in African art can skyrocket and bring the collectors even 10x the original value. So why not buy exciting emergent African art now to see it rapidly increase its financial value in less than a decade?
Recent trends: African Art
Sotheby’s, the oldest and most trusted auction house in the world, has a separate section for African and Oceanic art. This section has multiplied its winnings at an insane rate leaving other departments behind as they continue to accelerate. In 2004 their sales reached $4 million while 10 years later they peaked at an incredible $84 million. The increase is generated by the economic and market visibility of the rich African heritage across the world. It seems that the African continent has experienced economic growth, with international exposure and the largest youth population among all continents. With nearly a thir of African art collectors being African, New African millionaires are keen to invest in their native art bringing forth emerging generations of artists with powerful and meaningful messages to share. Participation at international art fairs and exhibitions such as the Venice Biennial, and the development of local African auction houses such as ArtHouse Contemporary Limited in Nigeria are all part of a process that ensures worldwide visibility to a new type of art that fascinates and creates a place for real investment for all categories of collectors.
Why collect African Art
Why did Picasso have a traditional African sculpture in his studio? African sculpture is known as the main influence on the creation of his avant-garde art that secured his place in the history of art. This brings us to the present, where many collectors are aware of the fact that the African traditional and contemporary art market is still at the beginning and that it will continue to flourish during the next decades. The young generation is looking at art as a way to stand out from the crowd delivering high-quality works with spectacular craftsmanship, contemporary art techniques, and relevant content. Collectors can choose from a large pool of artists, both established and emergent, and be sure that their investments are more profitable than stocks or other goods. Have a look at ARVIVID’s original collection of thriving African art to discover new and compelling voices that will spark your curiosity and stir the international art market. We are preparing an exciting African art exhibition in spring so make sure you check back on us soon.