Why your next statement purchase will come from Africa

Nosmot Gbadamosi, CNN
5 minute read
Updated 6:24 AM EDT, Fri October 14, 2016
London's 1:54 Contemporary African Art Fair opens for its fourth edition at Somerset House. But this year, a host of new galleries are debuting - showcasing the continent's young progressive artists.
Daniele Tamagni, Icon —
London's 1:54 Contemporary African Art Fair opens for its fourth edition at Somerset House. But this year, a host of new galleries are debuting - showcasing the continent's young progressive artists.
courtesy daniele tamagni
Ghanaian born Clottey often dresses up in women's clothes in public street performances with his 70 strong collective who take part in his public art performances.
Serge Attukwei Clottey and GoLokal, My Mother's Wardrobe —
Ghanaian born Clottey often dresses up in women's clothes in public street performances with his 70 strong collective who take part in his public art performances.
courtesy serge clottey
A new project will see him cast a critical eye over Ghana's upcoming elections by staging his own public voter system inside Gallery 1957. He hopes to highlight how corrupt the voting system has become.
Serge Attukwei Clottey and GoLokal, My Mother's Wardrobe —
A new project will see him cast a critical eye over Ghana's upcoming elections by staging his own public voter system inside Gallery 1957. He hopes to highlight how corrupt the voting system has become.
courtesy serge clottey
Malawian-born artist based in Johannesburg, South Africa, Billie Zangewa, celebrates powerful females through her delicate silk tapestries, collages and cotton embroidery pieces.
Billie Zangewa, Mood Indigo —
Malawian-born artist based in Johannesburg, South Africa, Billie Zangewa, celebrates powerful females through her delicate silk tapestries, collages and cotton embroidery pieces.
courtesy Billie Zangewa
Kinshasa born Kamuanga Ilunga, wants his circuit board images to reflect the Democratic Republic of Congo's rapid modernization.
Eddy Kamuanga, Ilunga, Duty of Memory —
Kinshasa born Kamuanga Ilunga, wants his circuit board images to reflect the Democratic Republic of Congo's rapid modernization.
courtesy Eddy Kamuanga, October Gallery London
The Democratic Republic of Congo is the world's largest exporter of coltan, the raw material used for computer chips and cellphones.
Eddy Kamuanga, Ilunga, False Memories —
The Democratic Republic of Congo is the world's largest exporter of coltan, the raw material used for computer chips and cellphones.
courtesy Eddy Kamuanga, October Gallery, London
Lagos--based Art Twenty One, which represents Guinean/Swiss photographer Namsa Leuba seeks out international as well as local artists to represent.
Namsa Leuba, Zulu Kids —
Lagos--based Art Twenty One, which represents Guinean/Swiss photographer Namsa Leuba seeks out international as well as local artists to represent.
courtesy Namsa Leuba
Curator Joseph Gergel says, "our international artists have also come to Lagos to create new artistic projects, so it becomes a dialogue between the international and the local."
Namsa Leuba, Zulu Kids —
Curator Joseph Gergel says, "our international artists have also come to Lagos to create new artistic projects, so it becomes a dialogue between the international and the local."
courtesy Namsa Leuba
Majida Khattari's photographic work, Khattari reconsiders the clichés that dominate orientalist painting as well as the scenery which inspires it.
Majida Khattari, Le rêve-d'Agatha —
Majida Khattari's photographic work, Khattari reconsiders the clichés that dominate orientalist painting as well as the scenery which inspires it.
courtesy Majida Khattari
Italian photographer Daniele Tamagni documents impressive contemporary fashion subcultures across Africa.
Daniele Tamagni, The Playboys of Bacongo —
Italian photographer Daniele Tamagni documents impressive contemporary fashion subcultures across Africa.
daniele tamagni
Africa's luxury galleries debut at London's 1:54 African Art Fair

Story highlights

The majority of sales from Africa's lucrative modern art market take place outside the continent

London's 1:54 Contemporary African Art Fair sees the debut of new galleries based in Africa want to change this

CNN  — 

There is a new international scramble for Africa happening but this time it is not for lucrative geographical territories but its modern art.

Investment in the right pieces can see a 10-fold increase in their future value – leading to a plethora of international galleries vying to represent its artists.

The 81-year-old woman pimping BMW's rides

While reports of Africa’s growing middle class art collectors abound, of which there is, in reality 80 per cent of sales in African art still come from international collectors mainly in the US and UK.

Something that art fairs such as 1:54 Contemporary African Art Fair - which opened yesterday at London’s Somerset House – has capitalized on.

Individual prices at last year’s fair reached almost $70,000.

When 1:54, named after the 54 countries that make up the African continent, launched three years ago, it did so to just one wing of the 16th century house. Today, the fair takes over the entire building, a testament to the show’s increasing popularity.