African_Auction_Market_2016-2022 (Cover Framed)

Market Analysis: Modern & Contemporary African Artists 2016 – 2022

  • Analyst: Lindsay Dewar
  • Pages: 48
  • Access: Analyst

African modern and contemporary art auction sales reach new heights in 2022

Despite global economic and geo-political challenges, the African art market surged to new heights in 2022, and has registered the highest auction sales total on record, fuelled by strong interest in a young generation of African artists.

However, in our recent Outlook Report, experts remains more cautious about 2023, with 30% saying the African art market will go up further (down from 50% who said the same in in 2022). A further 38% saying they believe the market will level out this year, and 30% 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 2022 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.