Global Africa Art Market Report 2016
The global market of modern and contemporary African performed highly in 2016 with a sell-through price of 72% in a mournful context of the international art market and the reducing of African economies. This segment verified to be an exemption.
The huge direct and indirect investments, generally in western nations as well as new structural efforts in Africa varying between US$ 300 million to US$ 400 million in the last five years.
Modern art led the marketplace with a sell-through rate of 76%, and 55% in value of the complete quantity of sales, reaching US$ 23.3 million.
Bids that exceeded the symbolic threshold of US$ 1 million increased by 200%, including 50% for modern art and 50% for modern art. Strauss & Co, based in Johannesburg, South Africa, is the leading auction residence for the complete quantity of works marketed with 31% in value and 57% of whole lots.
Auction houses based in the African continent counting for 46.1% of the overall value, bring US$ 19.6 million and 93.2% of great deals London held one of the most vital place in the marketplace in 2016, considering the variety of operators in our research study that ordered sales (40% of the total amount), the variety of recommended lots (2.9% of the total) and of sold lots (28.1% and US$ 11.9 million in the year) and institutional and commercial exhibitions.
The enlargement of the buyers' base in all groups.
In contemporary art, the works offered beyond their high price quotes, standing for 58% in worth, or US$ 8 million, and 37.9% between their price quotes or US$ 5,7 million when it come to the complete variety of sales in this group.
Women musicians remain to lead this market for the 2nd consecutive year and constitute an essential market share. They represent 60% of the leading 5 most costly selling lots in all classifications and 66.5% in value for this very same ranking.
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AboutGlobal Africa Art MarketReport
Africa Art Market Report is a unique and leading comprehensive tool on modern and
contemporary African art market and his ecosystem.
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