Local Art Markets

In South Africa, the auction turnover amounted to $18 million in 2014, making the country the first marketplace of Africa [1]. Johannesburg and Cape Town are the major cities focusing on art auctions. The strength of the local market is supported by the presence of important auction houses such as Stephan Welz & Co and Strauss & Co, both based in Johannesburg and Cape Town, which mainly sell art crafted locally.

Even if the two South African cities are undergoing a rapid development on the art market, the local demand remains weak in comparison to several Western marketplaces. For instance, Cape Town was ranking in the top 50 major cities of the art market last year, far behind New York, London, and Paris, but substantially ahead of Dublin, Florence, and Miami.

In Nigeria, ArtHouse Contemporary Ltd is the main auction house of the country focusing on artists who are from or based in West Africa. The Lagos-based company recently sold several artworks from El Anatsui and Ben Enwonwu, both critically acclaimed contemporary African artists. The auction house is also active in the art market through the organization of several exhibitions in Lagos and London.

In Morocco, the Moroccan Company of Art Works and Items (CMOOA) is an auction company based in Casablanca. This major auction house has helped shape the local art market by hosting regular events that attract an increasing amount of art lovers and investors. The company organizes various themed sales including jewelry, tapestries, and furniture, with a significant portion of contemporary art from local renowned artists.

International Art Auctions

Important auction houses such as Christie’s and Sotheby’s recently became more interested in emerging markets by playing on the patriotism of collectors. They offer artworks from local artists to new collectors eager to buy art from their fellow citizen artists. Meanwhile, Phillips de Pury & Co attempted a first sale of contemporary African art in New York in 2010 under the auction Africa. With nearly 40% unsold items, the experiment was not repeated despite very interesting results from Yinka Shonibare, Chéri Samba, and William Kentridge.

In contrast, Bonhams stands out with a different strategy to promote African art. Since 2009, the auction house devotes annual sales specifically to contemporary African art in the event Africa Now, which have seen several world record broken last year. The company also have a department dedicated to South African art and is leading the local market with sales from African artists including Jacob Hendrik Pierneef and Alexis Preller.

Apart from Bonhams, the French auction house Gaïa positioned itself from 2007 onwards as a pioneering force in the domain of emerging art, including contemporary African art. The Paris-based auction house aims to attract new collectors through a team of experts which provide insight on the origin of artworks and their valuation on the market. Following in the footsteps of Gaïa, Artcurial also focused on the same sector from 2010 onwards.

Several contemporary African artists have since acquired international stature via exhibitions and repeat sales in New York and London. Among them, Julie Mehretu, William Kentridge, and Marlene Dumas have emerged as major artists of the African art scene. Their works have been exhibited in several cities inside and outside Africa, and they have also been recognized by key institutions such as MoMA, the MET, or the Centre Georges Pompidou.

Ironically, an international success doesn’t guarantee a better local exposure. Some artists always look for the first sale in their home country, while others are not able to achieve the same international results locally. For instance, Marlene Dumas whose several works have been sold at high price abroad doesn’t have the same echo in South Africa. And it is similar for William Kentridge even if he lives in his home country unlike Marlene Dumas.

[1] Contemporary Art Market 2014, Artprice Annual Report, Artprice.com