Tag Archives: Art Basel

Contemporary African artists at rise

Contemporary African artists have been gaining appreciation on the international art market, a boom that’s been confirmed through record sales at auction.

However these artists remain part of an emerging market niche, as the Quartz news website pointed out: “For all the excitement around African contemporary art,” it wrote in March, “the continent still accounts for a fraction of the global art market.”

Art Basel‘s latest global art market analysis, “The Art Market 2018,” showed that combined sales of African and South American art constitute less than four percent of last year’s international market share. The US, China and the UK still strongly dominate the market, largely because these richer countries count more art collectors.