Art News: Nigeria Art Market Report

Jess Castellote and Tayo Fagbule released the 2015 Nigerian Art Market Report. This current climate of love for African Art requires documentation and real analysing to archive the changes and demands of Black art. The report gives great details on the top selling Nigerian artists and trends for 2015 such as:

• El Anatsui is Nigeria’s highest selling Nigerian artist

• In 2015, the average price of works by non-Nigerian artists at auctions held in Nigeria outstripped the average price of works by Nigerian artists, despite its 3% increase from the previous year.

• Over 108 exhibitions–69 solo and 38 group shows–were organised in Nigeria in 2015, according to data compiled; 64 of these events held in galleries.

• Sales of artworks by Nigerian artists at Bonhams brought in $1,774,330 in 2015, 23% more than the $1,373,198 generated by artworks by Nigerian and non-Nigerian artists at auctions in Lagos. The rise in Bonhams’ sales was partly due to the auction of the art collection of Afren, an oil company with financial problems.

Read more about the 2015 Nigerian Art Market here.

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