Cape Town has recently been voted the Art Capital of Africa and has a lively art scene. Investment in art has also been in the spotlight lately and a new report by New World Wealth entitled 2020 Art Ratings names the most bankable artists in South Africa. New World Wealth is a global market research group based in Johannesburg.
The 10 most bankable artists according to the report
- JH Pierneef – works sell from R3 million to R25 million
- Irma Stern – R5m to R50m
- Maggie Laubser – R500 000 to R5m
- Alexis Preller – R2m to R20m
- Gerard Sekoto – R500 000 to R5m
- Vladimir Tretchikoff – R1m to R15m
- Sydney Kumalo, sculptor – works sell for R300 000 to R2m
- William Kentridge – R1m to R5m
Works by Kentridge are currently on display at the Norval Foundation
In Why Should I Hesitate: Sculpture, visitors encounter a range of new and historical artworks that have been produced over the last two decades, which narrate Kentridge’s engagement with three- dimensional form. Running from 24 August 2019 to 23 March 2020, Norval Foundation’s exhibition will coincide with a complimentary exhibition Why Should I Hesitate? Putting Drawings To Work, at Zeitz Museum of Contemporary Art Africa, which takes Kentridge’s drawing practice as its focal point.
- John Meyer – R250 000 to R3m
- Anton van Wouw, sculptor – R1m to R10m
The report also mentions that the global top-end art market is valued at around US$75 billion. African art accounts for around US$1 billion of this, with US$480 million held in South Africa specifically.
Cape Town – Art Capital of Africa
Cape Town has been named Africa’s leading art capital, beating Joburg, Lagos and Marrakesh, according to The South African Art Market: Pricing & Patterns study.
An estimated 50 art platforms – from galleries, fairs, events – have been established in South Africa since 2007, according to the study. Around 70% of them are commercial galleries.
The private art museums in Cape Town – such as the Zeitz Museum of Contemporary African Art and the Norval Foundation – were found to carry more institutional weight than those in Joburg.
Mary Corrigall, the founder of Corrigall & Co, said
Much of the reason that the art platforms in Cape Town enjoy a higher status is that they are located in a tourist magnet. Some galleries say up to 70% of sales in this city are to foreign visitors.”
Commenting on the study, Briony Brookes, PR and Communications Manager at Cape Town Tourism said
Cape Town is famed for its natural wonders; beaches, Winelands, and mountains. So when you consider what our art community is competing with, it’s something visitors can perhaps be forgiven in overlooking. But while forgiveness is granted, excuses will not be accepted. That’s because the art scene in Cape Town can and should no longer be ignored.”
She said art in Cape Town was alive, exciting and on par with what was on offer in major international cities around the world.
About the Norval Foundation:
The Norval Foundation, is a stylish visual art museum boasting one of SA’s largest private collections, nestled on the border of a precious Steenberg wetland system.
According to the Norval Foundation website
Norval Foundation is a centre for art and cultural expression. We are dedicated to the research and exhibition of 20th- and 21st-century visual art from South Africa and beyond. Located in the Steenberg area of Cape Town, adjacent to Table Mountain National Park, the Norval Foundation combines the experience of art with an appreciation for nature.
Our Sculpture Garden, outdoor amphitheatre, purpose-built exhibition spaces and research library are situated in a unique setting that offers visitors a multisensory experience. This is complemented by the Skotnes Restaurant and Bar, a bespoke shop and a children’s playground.
We aim to create high-quality exhibitions and public programming to broaden our understanding of the visual arts. The Norval Foundation is honoured to be the custodian of the Gerard Sekoto Foundation, the Edoardo Villa Estate Collection and the Alexis Preller Archive. We believe that art has the power to enrich our lives and that artists contribute to our communities in a profound way.
The Norval family are the founders and initial funders of the Norval Foundation. Their aim is to make art widely accessible to local and international visitors by creating a self-sustaining centre for art. The proceeds from capital donations will be used to secure the foundation for future generations.
About Zeitz Museum of Contemporary Art Africa
The Zeitz Museum of Contemporary Art Africa (Zeitz MOCAA) is a contemporary art museum located at the V&A Waterfront in Cape Town, South Africa. It is the largest museum of contemporary African art in the world
From the ZEITS MOCAA website
The establishment of the museum came about through a confluence of factors. The V&A Waterfront recognised the significance of its Grain Silo complex as an historic landmark and for years debated possible uses. An art museum was eventually decided upon but a collection was needed. The desire was to house something of public civic significance, and something open to the public.
It was through Ravi Naidoo that Thomas Heatherwick was introduced to the Grain Silo complex in 2006, and again in 2011. At the same time, Jochen Zeitz was working to build a world class collection of contemporary art from Africa and its Diaspora with the vision to create the first major museum dedicated to contemporary art from Africa and its Diaspora, on the Africa Continent.
The meeting of these two visions resulted in the creation of the not-for-profit public institution since named Zeitz MOCAA.
