It’s easy to understand why the African sculpture industry is currently undergoing a time of rapid expansion with rising demand for both Modern & Contemporary works.
African art is a fantastic investment for individuals searching for a rising business that hasn’t yet been oversaturated due to its exceptional craftsmanship and rich cultural heritage.
There are now more galleries and museums devoted to African art than ever before, and investors from throughout the world continue to express interest in African sculpture art.
African art can be the best option if you’re seeking a purchase that will enhance your home and improve in value over time.
Why is the African Sculpture Art Industry Booming?
1. Global investors are seeing enormous profits from African art
Gold and art are the two commodities that are currently offering investors the best returns globally.
After being ignored for decades, African sculpture art is a fairly new addition to the market for “investable assets,” commanding high prices and producing tremendous returns for international investors.
2. New Collectors are forming globally
Due to the impact of Black Lives Matter on the racial awakening in the West, American and European galleries and museums are making an effort to diversify their overly white artist profiles.
Magazines are giving black and African artists more attention, and collectors are joining the trend.
3. The number of millionaires from Africa has significantly increased
Africa is already home to at least 130,000 US millionaires and 22 US billionaires, with significant potential for many more to join the list.
This rapidly growing population of wealthy Africans can be linked to industries like financial services, retail, manufacturing, imports and exports, agriculture, commodities, and so on.
Africans who are becoming increasingly wealthy are investing a sizable amount of money in African art, which is not surprising given that art is typically a luxury enjoyed by the wealthy. And as the continent’s population of wealthy people grows, so will their interest in modern and contemporary art.
In the past, tourists and upper-class citizens have been the primary consumers of local African art. Yet, middle-class Africans today also contribute to the volume of sales. These are the ones who are becoming interested in and buying beautiful, reasonably priced art that is inspired locally.
Why African art is a good investment right now?
You have probably begun to understand why investing in African sculpture art now is worthwhile based on some of the factors we have emphasized for the boom in the market for African art. Yet, the following are some important reasons to think about purchasing some African art right now:
1. A good return on investment
One of the two commodities that is now giving investors the best returns is art, as was already said. In terms of market confidence, the African sculpture market is ranked as the second-highest art market, and it keeps expanding and setting new records every year.
2. The satisfaction of having a historical artifact
When you buy original art, you are investing in a one-of-a-kind work of art that can only be sold by the buyer. It belongs to you and you alone. Your purchase is authenticated by a certificate from the artist, and nobody can take that away from you.
Also, the art you buy makes your immediate environment more interesting, more aesthetically beautiful, and even a good topic of conversation with guests.
3. For the way of life and culture!
Buying art becomes a way of life when you’re well-off and glamorous. Art is without a doubt at the top of the list of must-have items for wealthy people when they browse for luxury items.
If you are wealthy but not yet very glamorous, purchasing art is one method to change that.
Being spotted at auctions and exhibitions with famous people, dignitaries, and wealthy people is becoming a status signal.
A good incentive to purchase certain works of African Sculpture art today is also your love of African culture. They are a representation of our culture and one of those items that, due to their originality, will always be in trend!
The market for contemporary African Sculpture art has a promising future! The demand for these pieces of art will rise in tandem with the number of wealthy people on the continent and in the diaspora.
We hope now you have a better understanding of why you should start collecting African art right away if you’ve been holding off buying a piece.
You shouldn’t pass up the potential to profit handsomely from an industry that is rapidly expanding by investing in African sculpture art.
With ton of distinctive items at Sculptures by Woodrow Nash if you want to start looking around for some African art right away! Also, we’re always there to help you by responding to any queries you may have about your buying African Sculptures.
Waterkolors Fine Art Gallery
6412 Summer Gale Drive, Memphis, TN 38134