The Second Edition of ‘Point of View’ Seeks to Transform the Nigerian Art Market

The Ben Enwonwu Foundation in collaboration with Society of Nigerian Artists and Alliance Française Lagos is pleased to announce the second edition of its monthly talk series, ‘Point of View’, at Mike Adenuga Centre, Ikoyi on October 17, 2019.

Njideka Akunyili Crosby, The Beautyful Ones, (2012), acrylic, pastel, colour pencil and Xerox transfer on paper, 243 x 170cm, previously estimated between $488,800-$733,200, sold for $3,075,774
Njideka Akunyili Crosby, The Beautyful Ones, (2012), acrylic, pastel, colour pencil and Xerox transfer on paper, 243 x 170cm, previously estimated between $488,800-$733,200, sold for $3,075,774

Following the success of the first edition which brought together a diverse line-up of artists, curators, writers, thinkers, wealth managers and policy makers, the second edition of ‘Point of View’ titled ‘Raising Capital Against High Value Works of Art’ is informed by mounting global interest on art from the continent and a steady growth of the collectors’ base within Africa and especially in Nigeria.

Against the backdrop of the unprecedented growth in the value of artworks by Nigerian artists sold at African art auctions, several questions arise; how do we establish a reliable value of an art work? How do we transform the market for art from Nigeria and embark on new directions in art lending, investment and wealth management? What are the challenges and risks? How do we develop appropriate regulatory and legal frameworks?

This platform thus seeks to encourage the growing recognition of Nigerian art as a new alternative asset class while providing a deeper understanding of the appraising of art holdings for liquidation, and of using art as collateral for lending transactions such as financing business expansions and investments or high-end purchases. It also aims to support the development of art investment products, as well as the diversification of investment portfolios with the integration of art.

How do we transform the market for art from Nigeria and embark on new directions in art lending, investment and wealth management?

Speaking at the event are Bola Asiru, co-founder of Red Door Gallery, Tayo Fagbule, Chairman of the Editorial Board of Business Day, Prof. Koyinsola Ajayi SAN, Managing Partner Olaniwun Ajayi LP, Kavita Chellaram, CEO Arthouse Contemporary Ltd, Omooba Yemisi Shyllon, Founder of the Omooba Yemisi Shyllon Foundation, and John Opubor, Managing Partner at Coronation Capital.

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