African art goes global

ON THE UP: WORK BY CONTINENT'S ARTISTS SELLS FOR R1.3BN ANNUALLY

- Marelize van Zyl

The art historical narrative, traditionally skewed towards Western perspectives, has long undervalued African art, limiting its global visibility and appreciation. This trend, however, has changed as collectors from around the world increasingly appreciate African art's rich history and significance.

While the contemporary African art market's dollar value remains small compared to other regions, it has experienced remarkable growth in the past decade with ultra-contemporary art pieces by African-born artists - under 45 years of age - accounting for the highest sales volume in the market.

The global art market is estimated to be worth around $68 billion (about R1.3 trillion).

London-based research firm ArtTactic says work by African artists currently exceeds a combined annual value of $72 million, more than double its 2016 value.

According to Artnet's 2025 Intelligence Report, postwar and contemporary art was the most lucrative art-market category for the second year running in 2024, generating just under $4 billion.

In 2024, the Artnet report revealed that sales surged by 46% between 2013 and 2023, peaking at $101.3 million in 2021.