Sotheby's, one of the world's oldest auction houses, is holding its first ever sale of modern and contemporary African art in London in response to a surge in demand. African artists currently account for just 0.01 percent of the international art market but the auctioneers are confident they are tapping into a fast-growing market.
Some 115 artworks by 63 artists from 14 countries across the continent are going under the hammer on Tuesday next week. They include works by Ghana's El Anatsui and William Kentridge and Irma Stern from South Africa, all of whom have sold for more than $1 million (920,000 euros) before. "Sotheby's has been watching this market grow for several years," said Hannah O'Leary, head of modern and contemporary African art at the auction house established in 1744. "We're on the verge of African art finally being acknowledged and represented in the international art scene," she told AFP.