Brutal correction for contemporary African art but modern holds up
Contemporary African art has plunged in value, but interest is strong in art from the second half of the twentieth century.
The 14th annual 1-54 Contemporary African Art Fair concluded in October at Somerset House, marking a different conclusion than previous years. Founded by Touria El Glaoui, the fair traditionally showcased contemporary African artists, but in 2025, it shifted focus to mid-century modernist artists, with Nancy Dantas curating the exhibition West Wind.
This marked a smaller fair, with only 42 exhibitors, compared to over 60 in 2024 and 50 in 2023. The decline in size came after turbulent years for the market, with auction sales of modern and contemporary African artists falling 45% from $87.2m in 2022 to $43.9m in 2024. However, sales of African art did increase 42.6% in 2025, reaching $62.8m, the highest level since 2016, while the number of lots sold surpassed the previous record.
Despite the market's recovery, it remains below its 2022 peak. Giles Peppiatt, who launched Bonhams' Modern and Contemporary African Art department, notes a split in the market between modern and contemporary art. The contemporary market, dominated by young figurative painters, saw a brutal correction after soaring prices in 2019-2022.
The modern market, covering artists active between 1945 and 1990, remains strong due to a limited supply of works, many of which are held in private collections. Bonhams' London sale in October included rare pieces, such as a large cast of Yusuf Grillo's sculpture, with prices reflecting the market's shift. London's market for African art faces challenges, with galleries like Tiwani Contemporary and Stephen Friedman Gallery closing due to shifting market dynamics.
However, Peppiatt believes London will remain a key hub for African art sales due to its strong connections with Nigeria and South Africa, which supply the majority of Bonhams' African art sales. Meanwhile, the continent's own art market is growing, with sales in South Africa reaching $28m in 2025, up 26%, and Art Auction East Africa in Nairobi selling 80% of its lots to an international audience.
Written by urgent.news from Africa Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
