Investment art: Culture transforms the canvas

eNCA's Aviwe Mtila reported on investment art. Courtesy of #DStv403

JOHANNESBURG - South Africans can now use artwork to exchange wealth through cultural practices like lobola.

Art collectors, both seasoned and new, are looking to visual arts to diversify their investments.

And now it seems African tradition, such as lobola, is realising this and tapping into art as an investment.

"During lobola, a great deal of money is exchanged between the families during the negotiations. Instead of using cows now, and we're seeing the trend picking up gradually, is that people are actually using artworks," said artist Mncedi Madolo.

"Appraised artwork with value, with certificates and such, exchanging value from one family to another, which is something that we've never seen before and this right now is showing us a very exciting future."

The value of the art lobola is most likely going to be appreciated with time.

"Today, art has become an investment because people buy it for future gains," said artist Dario Manjate.

"You invest in buying a piece of art today, and then after a couple of years, depending on the value that the artist will be having by then, you can still resell it for a higher price in the future."

* eNCA's Aviwe Mtila reports.

Source
eNCA

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