The sale of art pieces made by African American artists is on the rise, and new talent is emerging as more opportunities arise. In New York City, the increasing interest in these pieces has causes the prices to go up as well, with artists now getting upwards of $500,000 for their work.
From the Huffington Post:
“This is still a very young market, and we’re adding new artists all the time,” said Swann Galleries’ Nigel Freeman. “This” refers to African American art, an area of dedicated sales that Swann pioneered in 2007, holding twice-yearly auctions since then. Something else is being added to this market: another auction house — Leslie Hindman Auctioneers in Chicago — which is holding its first ever African American sale on March 1st, and also plans to hold two a year.
The idea for this inaugural sale developed last summer, after Leslie Hindman held a special sale in August of couture items from the collection of the Ebony Fashion Fair show, collected by the late Eunice W. Johnson and consigned to Leslie Hindman by her daughter, Linda Johnson Rice, chairman of Johnson Publishing Company, LLC, which is the publisher of EBONY and JET magazines. Linda Rice herself is African American, as were many of the bidders at the sale. “We made a lot of friends who collect African American art, and many of them asked us about African American art,” Hindman said. “I thought, ‘Hm, that’s interesting.”
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