Investing in African Art: 7 Strategies for Savvy Collectors in 2024
savvy investors, gather around.
Investing in African art today is a vibrant dance on the cusp of a cultural revolution. It's a game of chess, where your pawns are powerful portraits pulsating with ancestral whispers, and your bishops are bold sculptures forged from recycled dreams. In this arena, savvy collectors don't just chase returns; they chase impact. They wield their wealth like paintbrushes to splash colour onto the global canvas.
Imagine the thrill of unearthing a masterpiece by a rising star, a hidden gem shimmering with potential before the world discovers its brilliance. That's the allure of investing in African art – a chance to be a pioneer, a patron, and a witness to artistic evolution at its most audacious.
However, navigating this vibrant jungle of creativity requires more than just a fat wallet and a penchant for the exotic. You will need a safari spirit, a blend of curiosity, courage, and calculated risk. So then does a collector embark on this artistic adventure and return with a portfolio brimming with not just bold strokes and metals, but cultural understanding and a sense of transformative impact?
This digest exists to unveil seven (7) strategies that will guide you through the sun-dappled paths and hidden oases of the African art world.
7 Strategies for Savvy Collectors
1. Embrace the Regional Buzz
Ditch Paris and New York. The art world's tectonic plates are shifting, and regional hubs like Lagos, Dakar, and Johannesburg are erupting with creative volcanoes. Immerse yourself in these burgeoning ecosystems and forge relationships with local galleries, art advisors and dealers. Explore the intricate beadwork of Kenyan collectives, the bold sculptures born from recycled materials in Ghana, the mesmerising digital art of South Africa pushing the boundaries of virtual reality. Remember, the future of African art isn't just about international acclaim; it's about celebrating the rich tapestry woven within the continent itself.
2. Time Travel through Genres
Whatever your canvas preconceptions may be about contemporary African art, forget them. This is because African art has broken out of its two-dimensional box. It is far richer than its traditional connotations. African art today takes a lot of forms and is highly diverse. Prepare yourself to witness the captivating self-portraits igniting conversations about gender and identity, about life and death by Zanele Muholi. Feel the rhythm of a South African mask dance, a pulsating fusion of tradition and modernity. Immerse yourself in the Afrofuturist dreamscapes of Ghanaian digital artist Efua Oyele, where technology becomes a tool for ancestral storytelling.
If you let yourself be fully immersed, you would soon embrace the symphony of artistic expression that transcends the confines of a single medium.
3. Digital is Democratising Access
More than a cat playing video playground, the internet is a democratising force for African art. Platforms like Art Index Africa are turning browsers into buyers, connecting artists directly with collectors across the globe. Mobile banking adds another layer of accessibility, making owning a piece of African art far easier than it ever was.
We urge you as a collector to embrace the tech wave, explore online auctions, and discover hidden gems before they hit the mainstream. This however is not professional advice from me to swap out the possibilities of the internet for how art is traditionally enjoyed. Always remember that the digital world is a springboard, not a substitute for authentic connections.
4. Spot the Rising Stars
While established masters like Rom Isichei and Olu Amoda continue to illuminate the art world, keep your eyes peeled for the next generation of artistic supernovae. Explore artists with raw energy like Senegalese photographer Omar Victor Diop, who captures the essence of contemporary African life through his portraits. Be captivated by the unapologetic beauty of Cameroonian ceramicist Nathalie Djakou Kassi’s work, narrating stories of the African woman and family unit with every curve and texture. These rising voices are shaping the future of African art, and such early works hold the potential for extraordinary returns, both artistic and financial.
5. Reimagine Narratives, Deconstruct Canons
African art isn't a footnote in the Western art history textbook; it's a vibrant counterpoint, bursting with fresh perspectives and diverse experiences. Masters like El Anatsui, Wangechi Mutu and Rom Isichei are paving the way for young voices like Kenyan painter Michael Soi, Nigerian painter Silas Abrifor, and Ivorian photographer Joana Choum. Embrace the deconstruction of tired narratives, support artists challenging the status quo, and add your voice to the global conversation about art without borders.
6. Go Green, Invest Ethically
Sustainability isn't just a buzzword. It is the soul of a responsible art collector. Be mindful of cultural appropriation, ensure fair compensation for artists, and champion a more equitable art market. Stay updated with the ethical sourcing of materials and the environmental impact of art production. Invest in artists who are conscious of their carbon footprint and actively contribute to a greener future for the continent's artistic heritage. Remember, your investment ripples beyond the canvas, shaping the future of the art world itself.
7. Experience More Than You Own
Museums are shedding their dusty skins and transforming their long boring halls into interactive playgrounds. Be prepared for interactive exhibits, digital installations, and collaborative projects that blur the lines between spectator and participant. Look for museums that actively engage with local communities, fostering cultural exchange and making art accessible to all. Your investment in African art can go beyond collecting.
Well, there you have it.
As you journey through your artistic safari, one thing you should remember is that investing in African art in 2024 isn't just about acquiring priced objects of immense value. It is about acquiring experiences, forging connections, and becoming an active participant in the cultural revolution.
The African art world is more than just a marketplace, it is a journey, an adventure, and a chance to leave your own mark on a canvas far grander than any you could ever imagine.
The future of African art is yours to collect and shape, one brushstroke, one conversation, one audacious investment at a time.
Until the next digest,
keep being savvy.