Sotheby’s inaugural sale of Modern and Contemporary African Art generated £2.8 million in aggregate sales yesterday in London, exceeding its low estimate of £2.78 million and achieving a sell through rate of 78% by value.
In addition to the record-breaking sale total, the auction saw many artists achieving record-breaking prices. British/Nigerian artist Yinka Shonibare MBE’s Crash Willy sold for £224,750 against an estimate of £120,000-180,000, a new world record at auction for the artist. World records were also broken for António Ole (Angola), Pascale Marthine Tayou (Cameroon), Ouattara Watts (Ivory Coast), Armand Boua (Ivory Coast) and Abiodun Olaku (Nigeria), amongst others.
Participants gathered from 29 countries to see two star lots, Earth Developing More Roots by El Anatsui and Sunflowers by Irma Stern achieve £728,750 and £416,750 respectively. Collectors also witnessed the auction debut of artists such as Eddy Kamuanga Ilunga (Congo) and Nicholas Hlobo (South Africa), whose mixed media work soared above its £8,000-12,000 estimate, selling for £60,000.
Sotheby’s is delighted to announce its inaugural auction of Modern and Contemporary African Art, which will take place in London on 16 May 2017. The auction will include some of the best-known contemporary artists from across the continent, including El Anatsui, Yinka Shonibare, William Kentridge, Romuald Hazoumè, Chéri Samba, Meschac Gaba, Abdoulaye Konaté, Ouattara Watts, Kader Attia and Pascale Marthine Tayou, as well as the modern masters Ben Enwonwu, Uche Okeke, Skunder Boghossian, J.H. Pierneef and Irma Stern.