Collectables are a growing segment in South Africa as the wealthy invest more in watches, cars, wine and even stamps.<\/p>\n
One category which stands out is art, with the global market currently valued at around US$75 billion, according to a new report by New World Wealth.<\/p>\n
The report found that African art accounts for around US$1 billion of this, with around US$460 million held in South Africa.<\/p>\n
The majority of large art galleries are located in Johannesburg, Cape Town, Pretoria and Stellenbosch. Major dealers include Strauss & Co, Stephan Welz and Aspire Art.<\/p>\n
Leading South African artists (in terms of the value of their paintings) include:<\/p>\n
“Irma Stern is currently the most valuable South African artist. Her paintings can fetch up to US$2.5 million (R35 million) each, with an average price of around US$350,000 (R5 million per painting),” New World Wealth said.<\/p>\n
“According to our in-house indices, South African fine art prices have risen by 33% over the past 10 years (in US$ terms), Global fine art prices have risen by 18% over the same time period.”<\/p>\n