East African Art Market Presents Lucrative Investment Opportunities

The East African art market has increasingly evolved, presenting lucrative investment opportunities for individuals seeking scarce assets similar to real estate and antiques.

The growth in the art market has also been supported by the annual modern and contemporary East African art auction in Nairobi hosted by Circle Art Agency and Gallery.

Renowned as the only one in East Africa, the Circle auction has transformed the art scene in Kenya creating enormous interest in East African art regionally and internationally. In 2015, the auction recorded gross sales of over Kshs. 20 million with 4 lots fetching more than Kshs. 1 million each, proving there is a healthy art market in East Africa.

Attracting over 300 participants mostly high net worth individuals (HNWI) and corporates, these individuals look to purchase and own beautiful and rare artwork but also with an investment view.

Following this development and realization of the investment potential, the corporate sector continues to endorse the art market through various sponsorships of the Circle annual auction as well as exhibitions in different galleries across the country.

“We are thrilled by the immense support the auction has received from different corporate entities over the years. This support has contributed to the creation of new platforms and our ability to present visual art to new audiences” says Danda Jaroljmek, Founder and Director, Circle Art Agency.

The Circle Art Gallery will be hosting its 4^th annual modern and contemporary East African art auction on Monday, February 27, 2017 at the Intercontinental Hotel, Nairobi at 6.00pm.

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