Collectors Rediscover African Modernists

The African art market is showing signs of recovery, although its contemporary and modern segments are moving in different directions. After auction sales of modern and contemporary African art fell 45% to $43.9 million in 2024, they rebounded 42.6% to $62.8 million in 2025. Nevertheless, the market remains below its 2022 peak of $87.2 million. Analysts say the recovery masks a sharp correction among contemporary artists whose prices surged during the pandemic. By contrast, demand for modernists remains strong, partly because their surviving works are limited. The changing market is also reshaping galleries and art fairs, with several established London spaces closing or scaling back operations. Meanwhile, African platforms are attracting more buyers, including international collectors. Events in Nairobi, Lagos, and Cape Town point to growing regional interest. However, high import duties and weak market infrastructure continue to restrict local growth, making art fairs increasingly important to dealers.