• Saturday, April 27, 2024
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The rising value of Nigerian art

The rising value of Nigerian art

Nigerian art continues to gain global attention and command staggering fees on the domestic and international markets. In this two-part series, I shall provide a deeper understanding of this phenomenon, which possibly draws its largest influence from a growing indigenous secondary art market.

This development comes against the backdrop of; an increasing representation of artists by professionally-run galleries specialising in art from the African continent; more appearances by Nigerian artists at major fairs, biennales and festivals, all over the world, more artists studying at prestigious international institutions; and critical text, well distributed to new audiences through alternative channels including social media.

Njideka Akunyili Crosby’s ‘Bush Babies’

Arguably, the secondary market in Nigeria emerged with the first formal auction themed ‘When the Hammer Falls’, organised by Nimbus Art Gallery in 1999 at the MUSON Centre in Lagos. Presently, Arthouse Contemporary remains the clear leader in a market that includes the Lagos Auction by Terra Kulture and Mydrim galleries, as well as SOGAL by Signature Art Gallery. Set in June of 2008, Arthouse holds the record for the highest-selling work on the local market with N40 million for a painting, ‘Negritude’ by renowned Nigerian artist, Ben Enwonwu MBE. The success of the local secondary market has in turn influenced very strongly the international market for Nigerian and African art. The result is that international auction houses like Sotheby’s, Bonhams, and PIASA now devote entire sales to modern and contemporary art from the African continent. In recent times, Christie’s and Phillips de Pury have also joined the fray.

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Enwonwu Tutu 1974, oil on canvas, 97 x 66.5cm

In 1946, Enwonwu was already exhibiting with the likes of Picasso in Glasgow. By 1950, TIME Magazine had already hailed him as ‘Africa’s greatest artist’ and in 1957, he was commissioned to sculpt a bronze portrait of Queen Elizabeth II, the sittings beginning at Buckingham Palace. He still enjoys a fine reputation today as the most influential African artist of the 20th century with his highest selling work to date, ‘Tutu’ setting a record of $1.67 million in 2018 at Bonhams.

Marlene Dumas’ ‘The Visitor’

However, this figure pales in comparison to previous records set by arguably less influential modern and contemporary African artists. For example, Marlene Dumas’ ‘The Visitor’ sold for $6.3 million (Sotheby’s July 2008), Julie Mehretu’s ‘Black Ground Deep (Deep Light)’ went for $5.6 million (Sotheby’s, 2019), Irma Stern’s ‘Arab Priest’ achieved $4.95 million (2011) and Njideka Akunyili Crosby’s ‘Bush Babies’ sold for $3.4 million (Sotheby’s, 2018) to make her the highest-selling Nigerian artist of all time.

Irma Stern, Arab Priest

These anomalies raise pertinent questions that we must seek answers to, the most significant being:
Why are works by modern and contemporary artists from South Africa considered higher in value than those by other artists from Sub-Saharan Africa?
Why is work by a much younger Njideka Akunyili-Crosby more expensive than that by the revered Ben Enwonwu?

Perhaps as expert Katrin Schmitter asserts, a network of museums, galleries, exhibitions, customers, audiences, patrons, and critics, dependent on specific socio-economic and demographic backgrounds is not easily developed in most Black African countries. This assertion gains weight when one considers that South Africa boasts of one of the most sophisticated art scenes on the African continent. In addition, contemporary artists benefit from advancements in technology including the Internet that makes their work more accessible to a global audience. Arguably, artists living and working in this environment, as well as African artists practicing in the West enjoy the exposure and support that enable their careers.

In the concluding part of this series, we will engage these questions in more depth, as well as other existing concerns. Please stay tuned.