Nigeria: Again, 19th Lagos Art Auction Tests Economy 'Out of Recession'

22 November 2017

After generating a new local auction record for modernist, Ben Enwonwu, at the last May sales, Arthouse Contemporary returns, as a test to Nigeria's art market against the ongoing distressed state of the economy.

Arthouse, Nigeria's premier art auctioneer, is featuring the same artist and other modernists as well as contemporary artists for the November edition. At the 18th edition of the Arthouse auction in May, a bronze version of Enwonwu's famous sculpture series, Anyanwu, was sold for N54,050,000 million naira. The sale of the 1962 sculpture boosted the total lots sold at N166,156,00m. In fact, the auction house has been consistent with sales since the Nigerian economy 'officially entered recession' in the second quarter of last year.

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