Primimoda

 
 

MARKET UPDATE

Africaniste is much underexposed. Before Primimoda there were no galleries or dealers specializing in this genre in the US or the UK the two largest art markets in the world. The genre is also a relatively small one, and most sales have been and still in most cases handled privately, which means that current values are rarely published. Furthermore, even when important examples come up at auction the sale is rarely marketed or published internationally nor reported. Three important exceptions were Iacovleff, Marjorelle and Jespers. The Jespers was first offered in a sale at Christies, Amsterdam in March of 2004. The picture failed to reach its reserve of $19,000. (nineteen thousand dollars), and did not sell. The picture was reoffered for sale in January of 2006, again at Christies, Amsterdam, was marketed internationally and was sold this time in a sale with a part specialist content for $132,700 (one hundred thirty two thousand seven hundred dollars).

Current events have created a lot of added value in the market... note particularly recent sale results of Dupagne, Hallet, Iacovleff and Allard L'Olivier as shown in the chart that illustrates the best 'known' auction results only for the artists and sculptors listed. The Tate Britain exhibition in summer/autumn 2006 was the first of its kind in the UK for eighty years followed by the Bonhams exhibition December/January 2009/10. The curators at the Tate were so excited by the rarity of the genre that the installation was arranged in a record four months. Other major exhibitions will be held in similar institutions of status in the US.

It is my experience that the genre is fast emerging, and at this time extremely good value particularly when compared to Orientalism the equivalent genre of the Middle East. Notwithstanding, international exposure, current growth can also be attributed to renewed interest in Africa and the African aesthetic, attracting new and important collectors.

in the absence of independent data, growth from 2005 until 2007 has been chartered by identifying the progress of fourteen works bought at auction during 1998-1999, inclusive, and being resold between the period May 2005 - December 2007, again at auction.

The sales results have demonstrated excellent financial appreciation of between 242% to 756% which is calculated throughout the entire period. The figures also demonstrate per annum growth from a very healthy 25% to an extraordinary 89% with the genre still effectively in its' infancy.

Simon Carson

 

 
Marcelle Ackein
$204,127
Christies, Paris
Dec-08
Paul Daxhelet
$33,620
Tours & Taxi Brussels
Jan-07
Arthur Dupagne
$181,550
Digard,
Paris
Dec-06
Maurice
van Essche
$142,500 Bonhams
London
Sep-08
Elizabeth Faure
$88,000
Sothebys, 
New York
Nov-90
Donald Grant
$71,700
Sothebys New York
Dec-02
Andre
Hallet
$48,220
Francois Odent, Tours, France
Jul-07
Alexandre Iacovleff
$3,632,000
Sotherbys,
London
Jun-10
Floris
Jespers
$193,000
Sothebys, London
Feb-03
F Allard L'Olivier
$148,356
Christies, Paris
Dec-07
Jacques Marjorelle
$1,093,000
Gros & Delettrez
Paris
Dec-08
Arsene Matton
$46,100
Van Der Kindere, Brussels
Jun-07
Anna Quinquaid
$123,000
Etampes
Nov-10
Charles Verlat
$105,000
Serveats, Brussels
May-95
 
Drawings, Limited Edition Lithographs and Prints
Alexandre
Iacovleff
$99,602
Christies, Paris
Dec-07
Alexandre
Iacovleff
Vogel Ed.
$4,060
(Grp of 6)
Christies, Paris
Mar-05
F Allard
L'Olivier
Primimoda Ed.
$3,470
(set of 4)
Campo & Campo
Antwerp
Jan-07