African Contemporary Art Market Surges Over 200% in Five Years

The African contemporary art market has experienced explosive growth, with sales increasing over 200% in the five years leading up to the 2015 Africa Art Marker Report. Auction houses Phillips and Bonhams are now targeting this segment, while fairs like 1:54 have launched in New York and London since 2015. Top sellers include Julie Mehretu (record $3.5 million at Christie's in 2015), William Kentridge ($1.5 million in 2013), and Marlene Dumas (£3.1 million in 2008). New buyers have emerged within Africa, with collectors like Sindika Dokolo in Angola turning collections into institutions. New auction houses Strauss and Arthouse have opened in South Africa, and the Black Collectors Forum was founded in Johannesburg in 2014. Investment funds such as First Finance in Abidjan and Scheryn Art Collection in Cape Town have also appeared. However, the article warns against oversimplification, noting that young African and diaspora artists risk being valued for trendy aesthetic stereotypes rather than their complex realities.