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 consultancies, working with (or establishing) art galleries.
Our conversation today unpacks the world investment art in the context of growing interest by the people of the African continent. We ask questions such as, how does the industry operate? What are the dos and don’ts when seeking to enter the world of investment art? What are the trends? And many more. To help us discuss this subject we have in our studio Thabo Seshoka. Thabo Seshoka is the Absa Assistant Art Curator. Thabo Seshoka is responsible for the day-to-day operations of the Absa Gallery, while concurrently curating one of the largest Corporate Art Collections globally. Prior to joining the Absa Gallery, Thabo was the Acting Chief Curator and the Head of an Interdisciplinary Museum and it’s curator of Cultural History. He holds a Bachelor of Social Science (Honours) degree from Rhodes University (South Africa), a Masters of Arts degree from the Nelson Mandela University (South Africa) and is currently reading towards a degree of Doctor of Philosophy (Humanities) through Rhodes University.