According to Maslow*, items of aesthetic value should not be top of mind at a time like this. But South African art is making history at auctions both locally and abroad, fetching record-breaking prices in recent times despite the global economic crisis.
In the current global recession we are bombarded with alarming statistics and figures - massive drops in sales and dying businesses across all industries, from cars to clothing; tales of redundancy and unemployment – all very grim stuff. However it’s fascinating and in some ways heartening to hear that in these gloomy days one industry in South Africa is, surprisingly, on the up.
The international appreciation for and desirability of works of art by South African artists, especially living artists, has been steadily increasing for the past few years.
At an auction at Christie's South Kensington in 2007 Irma Stern’s Congolese Woman sold for £569,300 (R7.7m), shattering both the artist’s personal record and the record for any South African picture at auction.
In the same year Dylan Lewis’ Predators & Prey – The Animal Bronzes of Dylan Lewis auction, also held at Christie's South Kensington was 100% sold to the tune of £2m in total, with Black Rhino, establishing another world record price at auction for the artist at £360,000.
But then, back in 2007 there wasn’t much talk about a world wide recession in the offing and cash was more readily available for the spending.
Surely even avid collectors are having to count their pennies when it comes to shopping for art in early 2009?
Apparently not: Just last month (February 2009) South African artworks fetched record sales at the Bonhams South Africa Art sale in London where around 280 artworks sold for a total of £1.7m (R24.7m).
Maggie Laubser’s Indian girl with poinsettias was the top of the heap, raking in R4 million – more than twice the figure set in pre-sale estimates.
Walter Battiss' Africans in the autumn, the long yellow grass (sold for R862 290) and Anton van Wouw's sculpture Shangaan (sold for R760 000) also made record bids in the Art Sale.
Good News South Africa reported on the Bonhams' sale, wherein they quoted Giles Peppiatt, head of South African Art at Bonhams, as saying:
“We are seeing a maturing market for South African Art with a greater appreciation by non South African buyers. Increasingly the market is demanding the best but also paying greater and greater record prices."
Bringing it right up to today – this morning’s Cape Times carries yet another story of success for SA art. Erik Laubscher, an 82 year old artists residing in Green Point, Cape Town, was reportedly “dumbstruck” to hear that one of his early works, Still life with mandolin, sheet music and fruit, (see pic, above) fetched R1.2M in a hotly contested auction held by Stephen Welz & Co in association with Sotheby’s at Kirstenbosch, Cape Town, last Tuesday. The unnamed buyer placed the winning bid by telephone. This sale is a record breaking amount for a living South African artist.
The story becomes even more interesting when we hear that the painting, which dates back to 1953, was given away as a gift by Laubscher to a friend who was emigrating to England. He told the Cape Times that he gave away quite a number of paintings in those days – and that he doesn’t know where many of them are today.
Other art works fetched record prices at the auction. Total sales at the auction reached R10M, dominated by paintings while furniture and sculptures also featured.
In October 2009 more SA art will go on sale at Bonhams, including works by Gerard Sekoto, Alexis Preller and Maggie Laubser. So if you're looking for something to invest in during these troubled economic times, consider buying some South African art. And if you only have a few rand rolling around in the belly of your piggy bank, at least buy something from those bead crafters next time you're stuck at a red robot**.
* See Maslow's hierarchy of needs.
**robot - SAfrican for traffic light
