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Market Analysis: Modern & Contemporary African Artists 2016-23
- Analyst: Lindsay Dewar
- Pages: 48
- Access: Analyst
African art market remains in good health despite a softer global market
Despite global economic and geo-political challenges, the African art market only fell by 8.4% in 2023, compared to the general art market which saw a decrease of around 18%.
In our recent Outlook Report, experts remain cautiously optimistic about 2023, with 34% saying the market will go up further (up from 30% who said the same in 2023). A further 42% saying they believe the market will level out this year, and 24% said they thought the market would decline.
About this report
This report presents an in-depth analysis of the bourgeoning modern and contemporary African art market. The report covers auction sales at Christie’s, Sotheby’s, Philips, Bonhams, Piasa, Strauss and ArtHouse Nigeria. Included in this year’s report is an analysis of the market for younger contemporary African artists, analytical tools looking at annual trends between 2016 and 2023 as well as a breakdown of the market by artists’ country of origin and art sectors.
Who is it for?
This report is popular among art advisors, auction houses and collectors of emerging art sectors who want to get an overall feel for the current market trends, yet an in-depth view into some of the key current sales dynamics in the Modern and Contemporary African art auction market.
