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Introduction: Global modern & Contemporary African Art Market in 2016
The segment that resists the art market crisis
The global market of modern and contemporary African art performed strongly in 2016 with a sell-through rate of 72% in a morose context of the international art market and the slowingdown of African economies. This segment proved to be an exception.
This vitality was led by modern art 1 with a sell-through rate of 76% and 55% in value of the total amount of sales, reaching US$23.3 million. Contemporary art2 , the majority of acquired works being by artists appearing at auction for the first time, had a sell-through rate of 66%. The works sold beyond their high estimates represented 58% in value of the total number of sales during the year, including 66.9% for modern art and 33% for contemporary art.