Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

African Demand Drives Growth, More African Art Sales Coming

June 9, 2015 by Marion Maneker

With half of the buyers in Bonhams Africa sale coming from the continent, there’s a growing internal demand for African art which is having an effect on the broader, global market’s prices and sales volumes, the Australian Financial Review reports:

Along with a rise in rich patrons from Nigeria, Africa’s largest economy and oil producer, advances in technology, media and the Internet have helped broaden the audience, Jean Fritts, a senior director of African and Oceanic Art at Sotheby’s, said in an interview in London.

Sotheby’s is considering holding specialized African art auctions as its total annual African and Oceanic sales have risen to $US84 million in 2014 from about $US4 million two decades ago, Fritts said. […]

In Nigeria, regular auctions have been running since 2008, with almost 20 sales trading a total of about 1.2 billion naira ($US6 million),  said.

The bull market for contemporary African art (afr.com)

More from Art Market Monitor

  • Gallerist Admits He’s in Hong Kong to Sell ArtGallerist Admits He’s in Hong Kong to Sell Art
  • Subodh Gupta Painting Sold at a Loss, Newsweek Writer Explains . . . Sort OfSubodh Gupta Painting Sold at a Loss, Newsweek Writer Explains . . . Sort Of
  • What Google Finds in Great Works of ArtWhat Google Finds in Great Works of Art
  • Will New Yorkers Avoid Going to Maastrict Now That TEFAF Is Coming to New York CityWill New Yorkers Avoid Going to Maastrict Now That TEFAF Is Coming to New York City
  • What Happens to Obscure But Exquisite Art When the Market Skews Toward 20 NamesWhat Happens to Obscure But Exquisite Art When the Market Skews Toward 20 Names
  • Richard Prince Buys NY Real EstateRichard Prince Buys NY Real Estate

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • A Season of Improvisation: Fall 2020 New York Modern and Contemporary Art Auction Analysis
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Tony Podesta's Secret Art Buying
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Login
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Aboudia, Zemba Luzamba, Dickens Otieno Anchor Contemporary African Art Sale at Artcurial in Marrakesh
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Selection Bias In Art Is What Creates Value
  • Re-discovered John Constable Painting at Sotheby's in December
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor