Why African Art Is Rising in Value — and How to Tell If You Own a Hidden Gem

Why African Art Is Rising in Value — and How to Tell If You Own a Hidden Gem

n recent years, African art has rapidly ascended the global art market hierarchy, gaining remarkable traction among international collectors, galleries, and auction houses. This surge in value is not just a fleeting market trend but a significant cultural shift reflecting deeper recognition of Africa’s rich, diverse, and historically undervalued artistic contributions. Despite this rising interest, many art owners and collectors remain unaware of the immense value potentially hidden within their collections.

This article explores why African art is experiencing this surge in value, highlights the historical factors contributing to its current market demand, and provides practical guidance on how to recognize if the piece you own might be a valuable hidden gem.

Think you might be? Start your MoMAA appraisal today.

Historical and Market Factors Influencing African Art’s Rising Value

African art’s ascent in value is closely linked to increased recognition and correction of historical market biases. For decades, African art was largely excluded from mainstream global art discussions. Today, there’s a conscious shift, partly due to a growing awareness and appreciation of Africa’s diverse contemporary and modern art movements. Prominent museums and influential collectors actively acquiring and showcasing African artists have notably boosted visibility and demand.

Additionally, the market is being fueled by significant international events and exhibitions, such as major museum retrospectives and high-profile international art fairs dedicated exclusively to African contemporary and modern art, dramatically elevating global interest and consequently market value.

Want to understand the cultural symbolism behind market demand? Read: Symbol, Story, Status

Recognizing Hidden Value in Your Collection

To determine if your African artwork holds hidden value, start with provenance research. Establishing a clear history of ownership and verifying authenticity is crucial. Works associated with recognized artists or significant historical events command substantial market interest.

Carefully assess the condition and uniqueness of your piece. Originality and condition significantly affect valuation, with rare, well-preserved works typically fetching higher market prices. Pay attention to emerging market trends, such as works by female African artists or pieces with strong political or historical narratives, as these have seen recent spikes in market demand.

Need a valuation checklist? Here’s how to appraise art yourself

Case Studies of Remarkable Valuations

Case Study 1: Discovery of a Ben Enwonwu Painting

An inherited painting believed to be a simple family heirloom was later authenticated as a work by Ben Enwonwu, one of Africa’s most celebrated modern artists. Its valuation soared, fetching a record-breaking sum at auction.

Case Study 2: El Anatsui’s Sculptural Works

El Anatsui’s intricate metal tapestries were initially underappreciated outside Africa. Over recent years, they have become globally acclaimed, significantly increasing their value and auction prices.

Curious how authentication and appraisal differ in these cases? Read the full guide here.

Practical Steps to Confirm and Maximize Your Art’s Value

• Engage professional art appraisal services specializing in African art. Submit your piece to MoMAA.
• Document provenance meticulously, including past ownership, exhibitions, and relevant historical context.
• Monitor auction results and gallery sales to stay informed about current market trends and values.

Want to avoid scams during this process? Read: Art Appraisal Scams

The growing value of African art represents a vital shift towards global inclusivity and recognition of Africa’s rich cultural heritage. Owning African art today means participating in an increasingly significant segment of the art market, potentially holding pieces of considerable historical and monetary worth.

If you suspect your artwork might be valuable, seeking a professional appraisal is not merely beneficial but essential. Accurate appraisal ensures proper valuation, informed decisions, and strategic handling, safeguarding both cultural legacy and financial interests.

Let MoMAA help you uncover the truth and value of your collection.

FAQs:

1. Why is African art increasingly valuable today?
   African art’s value has risen due to increased global recognition, historical corrections, and strong collector interest.
2. How can I determine if my African art is valuable?
   Provenance, artist recognition, historical significance, condition, and current market trends determine value.
3. What types of African art currently have high market demand?
   Modern and contemporary works, pieces by recognized female artists, and politically or historically significant artworks.
4. Does the condition of African art significantly affect its value?
   Yes, well-preserved and original-condition artworks generally hold higher market valuations.
5. How do exhibitions affect African art valuations?
   Major exhibitions and international fairs dramatically increase visibility and subsequent market demand and valuations.
6. Is it essential to document provenance for African art?
   Clear, detailed provenance significantly enhances an artwork’s authenticity and market value.
7. Are professional appraisals necessary for African art?
   Professional appraisal ensures accurate valuation, benefiting sellers, collectors, and inheritors alike.
8. Can lesser-known African artists still hold significant market value?
   Absolutely, especially if their work is culturally significant, historically relevant, or currently trending in the art market.