Over the past few years the art sector has witnessed a growth in art from the emerging markets such as China, India and Brazil. Artists from these countries have seen their art-works gain international appreciation and have also witnessed the rise of prices for their art-works.
Another market that is set for rapid growth is the African market. Due to the rapid economic transformation and growth, the appreciation for art in African countries is set to rise in the near future.
Today Africa is witnessing the same kind of economic growth figures that china had in the 1900s and they is no sign of these economies slowing down soon.
With the current economic growth the African middle-class is also growing at a fast pace, with this in mind so is the taste and preference of this new middle-class. Its new middle-class which has acquired a taste for art.
Like in the BRICS nations where prices for art-works for local artists rose rapidly, the same is happening in Africa. Another factor to look at is the appreciation of African art by African professional working in the Diaspora and by persons with African ancestry in the Americas, Europe and the Caribbean.
Currently African art is undervalued, but as more people start collecting I for-see that by the end of 2011 the price for African art sky-rocketing. Already I am witnessing the rapid rise of prices for Shona stone sculptures and the market is far from reaching its peak, especially taking into consideration the demand for Shona stone sculptures from European countries such has Germany, France, Netherlands, Switzerland and also the USA.
Art from the emerging nations is definitely the next big thing and I suggest that those in the art business keep a close eye on the growth of art from the emerging nations especially African art.
Posted on December 29, 2011 by Editors
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