Art Means Business

Today on Art Means Business we explore the world of buying art for investment. Though relatively new on our continent, the business of buying/investing in the art (particularly black artists) is growing fast. As Art Historian Theminkosi Goniwe points out in his Mail & Guardian article of the 7th of September 2018, there has been a steady increase in exhibitions and art awards by black artists in recent years. These exhibitions are showcase splendid works and the presentation of these works to professional – international standards. “The prices and sales of artworks by select black artists have also swollen. And art audiences are feasting on these artworks, with some dealers and collectors competing overselling and possessing them,” [Theminkosi Goniwe]. Not only is there an increase in the number of works by black artists but there is also a rising black middle and upper class that is showing interest in the visuals arts. From appreciators to collectors, patrons and enthusiasts who are setting up art consu