If you are not sold on local art have another look. South African auction houses have noted a huge increase in purchases of art as an alternative asset class.
Russell Kaplan Auctioneers reported record prices for local art and antiques this year, observing that the art market had attracted "significant international interest".
This month the company sold several lots for much more than had been estimated - a Maud Sumner painting fetching 40% more than expected.
Sales of Daniel Rakgoathe originals hit the roof, selling for up to 10 times more than estimated.
His Cosmic Soul Motion collage was valued at between R2000 and R4000, but sold for R16000.
"Rakgoathe's work, along with that of other Rorke's Drift artists, such as Cyprian Shilakoe, has been drawing strong interest and good results," said auctioneer Russell Kaplan.
Anton Welz, director of Stephan Welz & Co, said the South African art prices had increased by about 30% in the past three years.
"Investing in art is not dissimilar to investing in the stock market. Investors need to choose a range of artists and buy the best work they can.
"Do your research and take advice from people who know.
"Have a look at the Citadel art price index for an indication of the performance of the art market against the stock market," said Welz.
"There is definitely a trend by investors to regard art as an alternative asset class."
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