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 |
|