By Marelize van Zyl, CEO at Aspire Art
The art historical narrative, traditionally skewed towards Western perspectives, has long undervalued African art, limiting its global visibility and appreciation. This trend, however, has changed as collectors from around the world increasingly appreciate African art’s rich history and significance.
While the contemporary African art market’s dollar value remains small compared to other regions, it has experienced remarkable growth in the past decade with ultra-contemporary art pieces by African-born artists – under 45 years of age – accounting for the highest sales volume in the market.
The global art market is estimated to be worth around $68 billion. London-based research firm ArtTactic says work by African artists currently exceeds a combined annual value of $72 million, more than double its 2016 value.
According to Artnet’s 2025 Intelligence Report, postwar and contemporary art was the most lucrative art-market category for the second year running in 2024, generating just under $4 billion. In 2024, the Artnet report revealed that sales surged by 46% between 2013 and 2023, peaking at $101.3 million in 2021. The postwar and contemporary genre led sales in 2023, with the ultra-contemporary category, driven by its affordability and online accessibility helping to attract a younger generation of collectors, growing significantly in recent years.
Africa is the only region globally where ultra-contemporary art – typically the smallest genre by sales total – has ever surpassed all other genres during the decade under review.
Sales of ultra-contemporary works by African-born artists jumped from $16.2 million in 2020 to $40.6 million in 2021. It’s estimated that the African art market could reach around $1.5 billion this year, driven by a growing number of collectors, patrons, investors, international art fairs and events interested in African art.
As interest in African contemporary art continues to rise, its market value is expected to see a corresponding increase, positioning it as a lucrative investment opportunity. According to ArtTactic, demand for young emerging contemporary artists has remained strong, with their presence in the market growing to the third highest level since 2015.
Specialising in handling contemporary art from Southern Africa, Aspire Art was the first auction house since its inception to actively promote what it perceives as undervalued 20th-century Black artists and the first to present a genuinely pan-African offering of modern and contemporary art to a global audience.
There is no question that Africa has much to offer in the way of highly collectible contemporary works. A good example is Ugandan artist Joseph Ntensibe whose large-scale canvases are regarded as rare and highly collectable. Ntensibe has made it his life’s work to put the spotlight on the rampant deforestation that has taken place in Uganda as a result of mining, war, drought, urbanisation and downright ignorance regarding the value of what was once the country’s most prolific resource. Although Ntensibe’s shimmering forest scenes have been likened to Cezanne and Klimt for their luminosity, in reality, this artist’s work is in a league of its own. Aspire Art currently holds the record for the highest achieved hammer price at auction of a Ntensibe artwork. Earlier this year, Aspire Art debuted the artist in South Africa and his impressive Forest Scene (2020) sold for R924,200.
This is far from the only record Aspire Art has achieved for contemporary African art. We hold the South African and world auction records for numerous other artists including multiple award-winning South African artist Nicholas Hlobo whose artwork, Intlambo yochulumanco, sold at an Aspire Art Auction in 2021 for R1,479,400 and Sam Nhlengethwa, whose portfolio titled Glimpses of the Fifties and Sixties sold for R967,300 in 2019.
We also currently hold the South African and world auction records for South African contemporary artist Mary Sibande. A multi-media artist, Sibande’s work interrogates the intersections of race, gender and labour in South Africa. Her work A Terrible Beauty is Born – from the artist’s Long Live the Dead Queen series – sold at the Aspire X Piasa auction in 2020 for R341,400. This record was again achieved in 2022 for Caught in the Rapture.
Partnerships and collaborations with international auction houses have extended the reach of African art from the 20th– and 21st centuries. Growing interest in this category saw Aspire Art partner with Paris-based auction house Piasa in 2020 to present some of the best examples of modern and contemporary African art, introducing several new African artists including Uche Okeke (Nigeria), Gareth Nyandoro (Zimbabwe), Salah Elmur (Sudan), Michael Musyoka (Kenya), Marc Padeu (Cameroon), Peter Ngugi (Kenya), Cyrus Kabiru (Kenya) and Cristiano Mangovo Brás (Angola) to a global audience.
The resounding success of the first auction in Cape Town in February 2020 was followed by a second auction in Paris in May that same year.
However, fast forward five years, and it is real-time online auctions that we believe will most successfully expand the reach of African contemporary art beyond the continent’s borders. Offering convenience, cost savings and broader reach for both sellers and buyers, online auctions streamline the bidding process and allow buyers to participate from anywhere in the world as long as they have an internet connection.
By bridging the gap between traditional African aesthetics and modern art practices while offering a rich diversity of talent, contemporary African artists have an exciting future ahead.
For more information on Aspire Art’s next real-time online auctions and to view its current collection of carefully curated contemporary African artworks, please visit www.aspireart.net
