Volumes of SA art sold at auction during the first half of 2015 declined by around 10%, but average prices paid were exactly the same as during the last half of 2014, according to the latest Citadel Art Price Index (Capi).
George Herman, head of South African portfolios at Citadel Investment Services. (Supplied).
“It seems that we’re well into a consolidation phase for SA art, where high-end signature pieces are fetching less, but the average pieces are doing very well. This expansion of the SA art market is very encouraging and bodes well for the future of art in South Africa,” according to Citadel head of South African portfolios George Herman…
Read full article via source: http://allafrica.com/stories/201508200957.html