African art is increasing in popularity and value. It has become a globally sought-after genre that generates millions of dollars in sales every year. Across the world, from New York and Texas to London and Melbourne, traditional and contemporary African artworks are commanding high prices. The business of African art is developing rapidly and, along with it, there is an increase in African entrepreneurs that are benefitting from these sales.
The paintings and sculptures featured on Molo Wethu are smaller creations that are more affordable. However, they are still unique and have that touch of the African spirit. They are charismatic and eye-catching, making them ideal gifts or artworks for any space. These artworks also benefit the local artists that painstakingly create them – and every sale helps to support an entrepreneur artist in Africa.
The demand for African art is increasing
The global demand for this genre of art has been rapidly rising. Even Africans themselves are investing heavily in local artworks and sculptures – they are the major driving force behind the success of the African art industry. There are three key reasons behind the success of this sector:
1. Africans are becoming wealthier
The majority of sales of African art are made on the continent. That means that Africans are the largest driving force behind the growth of the industry. Africans themselves are becoming wealthier – according to United Nations Africa Renewal, the number of dollar millionaires in Africa is increasing at twice the rate of the global average. South Africa tops the list with the most dollar millionaires.
With more money comes more disposable income and more investment in the African art industry. In turn, this means more support for local artists and entrepreneurs that play a role in art sales. The demand for local paintings and sculptures continues to grow rapidly on the African continent and it establishes itself as a formidable economy.
2. African art is attracting more global investors
Sotheby’s – one of the world’s most prolific art auction firms has the following to say about African art; “If you are looking for an excellent rate of return on your money, invest in African art. There is a bull market for artwork from Africa right now and investing in, say, a Dogon fertility statue from Mali or a Dan mask from Liberia is a better bet than investing in blue-chip stocks.”
African art is providing massive returns for investors. This means that more and more foreign buyers are looking for unique paintings and sculptures. Artworks from the continent have already become investable assets that command high prices due to their authenticity, uniqueness and character.
3. The appreciation of African art is growing
Africa is a den or artistic talent. The paintings and sculptures created by local artists can be incredibly detailed and realistic, or they can be abstract and ‘out there’. One thing is for certain; the raw talent and skill of the artist is undeniable. This is what creates more appreciation for the genre from a global audience. Wherever you travel in Africa, it is impossible not to notice the incredible local art.
The flurry of creativity, youthfulness and texture apparent in every sculpture or painting is refreshing. This makes African artworks highly desirable and appreciated by foreign buyers. Local artists and entrepreneurs are reaping the rewards of their hard effort. Molo Wethu is just one example of a business venture that is centered around the sale of local paintings and sculptures.
Online African art sales help entrepreneurs
Traditionally, art is sold in person and at galleries and auctions. Nowadays, the process is moving online. The global online art market is estimated to be around US$6-billion. This shows a massive progression towards viewing and buying artworks online, then having them delivered around the world. African art is no exception; even small sculptures and paintings purchased online can be delivered anywhere in the world.
The internet has contributed to the growth of the African art sector by creating global audiences for local artists. These creators have become entrepreneurs in their own right, selling their works to foreign buyers and earning a living from online sales. As the African economy develops further, the spending power of local buyers will also add to this growth in online art sales.
All of the paintings and sculptures featured on this website are created by small-scale, local artists with aspirations and goals. They are inspirational entrepreneurs with creative talent and pure skill. They deserve to be recognised and supported through online sales to a wider audience.
To learn more about Molo Wethu and our bespoke African artworks, please do not hesitate to contact us. Molo Wethu sources, collects and distributes a variety of unique African paintings and sculptures. Visit our online store to purchase these artworks for your home or office – they are ideal for art collectors, travellers and gift-givers.
Molo Wethu supports the needs of differently-abled humans. A portion of the sales from selected products will be donated to organisations that help children with Autism and Asperger’s syndrome in South Africa. This also helps to raise awareness of mental health issues in Africa.
We are able to deliver artworks around the world. To stay up-to-date with the latest news and Molo Wethu product launches, follow us on Facebook and Instagram. Take a look at our blog for more informative articles on African art, empowering artists and mental health.