• African-born artists generated $77.2 million in auction sales in 2024, down 31.9% year-on-year.
• Women artists accounted for about $22 million in 2024 sales, or 52.8% of total lots sold.
• African art represents 2.5% of the global art market, which Deloitte valued at $552.03 billion in 2024.

The art market is expanding and is benefiting from the intrinsic quality of its works. In recent years, this momentum has opened new opportunities, particularly for Africa and its women creators.

“African art no longer confines itself to local markets or private collections; it has become a global phenomenon. From prestigious auction sales in London and New York to contemporary art fairs in Marrakech and Lagos, collectors increasingly seek African artworks,” the specialized magazine Art Africa reported in November 2025.

Participation by African artists in major art events has increased as sales volumes have risen steadily. Over the past decade, the number of contemporary African artists appearing at auction and the sales volume of their works have tripled, according to the Artprice platform, which La Gazette Drouot cited.

African visual art auctions

African visual art encompasses image-based and plastic art practices across the continent and its diaspora. The field includes traditional, modern and contemporary expressions, covering painting, sculpture, photography, textiles, adornments, jewelry, installations, video and digital art.

Exhibition salons, exceptional public sales and artist performances, particularly by women, largely drive this segment. Major exhibitions organized by the Museum of Modern Art, the Tate Modern and the Centre Pompidou have spotlighted African artists and have strengthened both recognition and market value. These initiatives have dismantled longstanding prejudices and have broadened international visibility.

Local Emergence of Exhibition Salons and Art Fairs

Regional auction houses have echoed this global momentum. Strauss & Co in South Africa recorded revenue of about $21.6 million in 2024 from 6,745 lots. The company said online sales accounted for 77.8% of transactions and foreign buyers represented 21.7% of clients.

Dak'Art, which ranks as the third-largest contemporary art biennale after Venice and São Paulo, embodies African cultural diplomacy. Its 15th edition in 2024 gathered more than 2,500 artists, 10,000 professionals and 500,000 visitors, including 50,000 international participants.

The 2024 edition of the 1-54 Contemporary African Art Fair in Marrakech attracted more than 12,000 visitors and drew strong participation from international galleries, consolidating its role as a global showcase for African art.

The Also Known As Africa (AKAA) fair in Paris held its ninth edition in 2024 and immersed visitors in the latest continental trends and creations.

The AKAA exhibition hall in Paris

Record Sales for African Artists Amid Female Breakthroughs

Historic sales at exhibitions and fairs are driving market growth. These records are enhancing credibility and are increasing the investment appeal of African works, Art Africa said in a non-exhaustive list of sales.

In May 2024, Ethiopian-American artist Julie Mehretu sold her abstract painting “Mumbaphilia (JE)” for $5.8 million at Christie's in New York. She became the highest-valued African artist of the year. Nigerian modernist Benedict Enwonwu sold “FESTAC ’77” for $543,000 at Bonhams in London. South African artists William Kentridge with “Monument I” and Irma Stern with “Zululand” each surpassed $500,000, confirming sustained collector interest in both contemporary and modern African signatures.

Julie Mehretu, Ethiopian visual artist 

In 2024, African women artists generated about $22 million in auction sales and accounted for nearly 52.8% of total lots sold by African professionals in major international auction houses, the same source said.

Between 2018 and 2023, six women ranked in the top 10 record auction sales for African artists and dominated the top three positions, including multiple entries by Julie Mehretu and Nigerian-born artists such as Njideka Akunyili Crosby and Toyin Ojih Odutola.

Top 10 record sales by African artists between 2018 and 2023

Source : artdealerstreet.com

Contrasted Expansion in a Global Market Under Pressure

The global art market has contracted under macroeconomic pressure. The end of post-Covid economic euphoria and tighter monetary policies have weighed on transactions.

Geopolitical instability and China’s real estate crisis have intensified the slowdown. The new “Art & Finance Report 2025” by Deloitte Private said the global market fell 26.2% in 2024 compared with 2023.

Africa has not escaped this downturn. Art Africa said, “Works by artists born in Africa, classified in the Modern, Post-War, Contemporary and Ultra-Contemporary categories, reached approximately $77.2 million at auction in 2024, compared with approximately $113.4 million in 2023.” The figures translate into a 31.9% year-on-year decline.

1-54 Marrakech Fair

However, projections for 2025 pointed to a global rebound to $585.98 billion, compared with $552.03 billion in 2024.

Despite positive signals, African art still occupies a marginal share of the global market. It represents 2.5% of the total, according to Keturah Ovio, Chief Curator and Director of Sales and Client Relations at Patrons MCAA.

The position of African artists varies widely depending on career stage, target markets, gallery networks, collectors and cultural infrastructure.

This article was initially published in French by Ubrick F. Quenum

Adapted in English by Ange J.A de Berry Quenum