South African Art

Kelly Crow writing in the Wall Street Journal has an article on the growing influence and collectible of South African art.  Crow points out that during apartheid the art world deliberately overlooked much South African art.  Since the end of apartheid, interest in South African art has been mixed, but it now appears to be on the rise.  Bonhams London has an upcoming specialty sale for South African art and expectations are high.

Art Research Technologies recently analyzed sales results for three South African artists, and as can be expected, some showed some very positive sign with others being more neutral. View the WSJ article for the Art Research Technologies artist information and to view a short slide show on South African art.

Crow reports

Dealers say collectors are starting to come back, especially those with ties to mining companies who have benefited from soaring gold prices. The South African diaspora in London and Sydney are also buying more art as status symbols. Last week in Cape Town, Strauss & Co. auctioned off a floral still life by South Africa's favorite Expressionist, Irma Stern, for a record 13.4 million rand, or $1.9 million, nearly doubling its high estimate. Johannesburg art adviser Julia Meintjes says collectors have been reassured lately by the success of the local Joburg Art Fair and the recent launch of a South African art-advisory division of financial giant Sanlam.
To read the full article, click HERE.

No comments: