Aspire Art’s recent modern and contemporary art auction represents a bold step in bringing the Southern African and global art markets together but also makes for a carefully-considered business decision.
From a South African perspective, art investment presents vast opportunities, with the local market indicating promising signs of growth, despite market uncertainty.
Nowhere was this more evident than on the night of the auction, held in Johannesburg on June 25: William Kentridge’s showstopping masterpiece ‘Iris’ fetched a record-breaking auction price of over R5 million. In addition, the late Robert Hodgins' magnificent Une Saison en Enfers sold for over R600,000, together with his evocative Warehouse creation reaching a final selling price of over R450,000.
Also noteworthy, was the striking piece, Hood Poison by acclaimed Zimbabwean artist Misheck Masamvu, which sold for an impressive R480,000.
It is glaringly apparent that art investment continues to be a viable option within the alternative asset class, delivering rewarding returns, and proving a shrewd investment choice for long-term value.
For ease of reference, images of the top-selling pieces can be accessed here: https://we.tl/t-whiCc4X1EQ
Art investment: Where passion meets profit.
By Marelize Van Zyl, Chief Executive Officer of Aspire Art.
July 2025 - The recent launch of Aspire Art’s modern and contemporary art auction in Johannesburg on 25 June represents a bold step in bringing the Southern African and global art markets together but also makes for a carefully considered business decision.
From a South African perspective, art investment presents vast opportunities, with the local market indicating promising signs of growth, due to the increase in demand, prices, and internationalism.
Growing interest in African artists
As it stands, African artists now exceed $72 million in combined annual auction value, more than doubling since 2016, which is certainly not to be sneered at, with Irma Stern placed as the highest valued South African artist in 2025. As the international market acknowledges the inherent value of African art, it is expected that its market value will the rise even further.
Whilst collecting African art signifies a shrewd investment decision, it also speaks to social responsibility that supports young, emerging artists, and their continued growth. Quite obviously historically established artists command higher prices and appeal far more to seasoned collectors, however, as rising artists gain recognition, their art appreciates in value, benefiting the artist and the collector alike.
As part of Aspire Art’s commitment to supporting contemporary African artists, one of our more prominent pieces is Hood Poison by Misheck Masamvu. Masamvu, a Zimbabwean contemporary artist, initially specialised in realism, later developing a more avant-garde expressionist artistic representation. His motifs, take on a life of their own, exposing the psychosocial protagonists of contemporary society, and capturing the plight, political turmoil, and concerns of his Zimbabwean subjects and their experiences.
Masamvu’s arresting Hood Poison sold for R480,000, achieving the second highest price achieved at auction. Notably, Aspire Art currently holds the world auction record for the artist.
It is important to note, not only did the art market prove its resilience during the 2024 economic downturn, investing in art pieces also provides a potential hedge against inflation. There are myriad factors that have contributed to the art market’s stability, which include the perception that art is viewed as an appreciating asset with tangible value; moreover, the value of art is not linked to market performance which offers an additional buffer against potential volatility. **
Although the market faces distinct challenges such as economic uncertainty, the impact of increasing inflation and interest rates, together with the knock-on effects of the wars in Ukraine and Iran, the outlook remains hopeful – further reason for optimism in art investment circles. *
Emerging trends
A sign of the times is that the market is demonstrating an eagerness to
adapt to online auctions while also maintaining their interest in traditional
dealer auctions. It is this trend that guided our thinking with the recent
launch of our inaugural online wine auction, in collaboration with Rueda Wine
Co (RWC). Titled, The Grand Pour: Rare and Premier Wines, opened for bidding
online on June 12, proffering over R2 million in reserve value, showing
impressive results, with the highest bid received was R187,000 for the Bordeaux
Prestige Selection Grand Vin, 2003.
Of particular interest is the exponential growth of South African art tourism sector, projected to grow at a compound annual growth rate (CAGR) of 3.9% from 2025 to 2030, with galleries and museums representing the largest portion, according to Horizon Grand View Research. In terms of revenue, the South African art tourist market generated a revenue of USD0.9 billion in 2024 and is expected to reach USD 1.1 billion by 2030.
These projections reflect the seemingly insatiable appetite for South African art works both locally and abroad.
Art as an asset
In conclusion, art investment offers palpable viability as an
alternative asset class, continues to show rewarding returns, and remains a
wise investment choice for long-term value.
About Aspire Art
Founded in 2016, Aspire Art is an auction and consulting business
specialising in modern and contemporary art from South Africa and the broader
African continent. Its auction services are complemented by valuation and art
advisory services to private clients as well as estates and public and private
corporations. The Aspire Art team consists of a dynamic group of specialists with
extensive knowledge, industry experience and enthusiasm for African art.
Clients are provided with thorough art market insight, fair advice and trend
forecasting to ensure a richly comprehensive and rewarding art-collecting
experience.
For more information, visit www.aspireart.net
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