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The AFRICAN ART MARKET

The notion of African art market, as we know, is controversial. Palpable, stammering reality or fantasy? Opinions are divided among these standpoints like all the shades of grey between black and white. It is a sign that we are not faced with an obvious eye-catcher. The Dakar Biennale of Contemporary African Art will be an opportunity, among the greatest, to discuss these aspects. Artists, scholars, merchants, antique dealers, exchange dealers, brokers, collectors, etc. will be invited to “argue on the issue”, to use late President Senghor’s endeared phrase.

COVID-19’S IMPACT ON VISUAL ARTS CREATIVITY

The COVID-19 pandemic has forced art market players into internet-based trade as a matter of urgency. Behaviors have thus been transformed in a sustainable manner, plunging the art market into a deep transformation.

To understand these changes at the global level, we will draw on the work of UNESCO, WIPO and CISAC. We will also hear testimonies on national experiences, notably from Senegal. Representatives of all the above-mentioned institutions will co-facilitate these discussions.

INNOVATIVE AND CREATIVE CULTURE FINANCING MECHANISMS IN WEST AFRICA

The proposed platform aims at creating a framework for exchange between the West African donor ecosystem and all cultural stakeholders on the challenges and prospects of cultural financing in West Africa, but also to brainstorm on innovative and creative mechanisms to revitalize culture financing on the continent.

The exchanges will be organized around the following themes:

– What successful financing mechanisms will inspire the culture financing system in Africa?

– What is the role of governance and the Africa’s private sector in cultural financing?

– How to further support the sustainability and resilience of West Africa’s cultural and creative industries?

This high-level panel discussion on arts will gather the AWA program (ACP-EU Culture Program) beneficiaries. Much emphasis will be placed on discussions, with concrete contributions and recommendations.

VISUAL ARTISTS RIGHTS

A work of art is certainly of value. The word value, however, is not unambiguous. Having an artistic, intellectual, moral, social value etc. does not automatically confer market value on a work of art. Intellectual property rights contribute in manufacturing the market value of the work of art. By which mechanism? Experts from WIPO, CISAC, ADAGP and SODAV will share eye-opening answers thereto. This edition will mainly focus on issues related to:

  • Reprographic rights;
  • Private copying remuneration rights;
  • Resale rights;
  • Visual arts contractual law;
  • Collective Management;

MONEY LAUNDERING AND THE ART WORLD

The vulnerabilities of the art market make it a propitious money laundering and terrorist financing (ML/TF) vehicle. The internationalization of flows, cash payments, the online sales-induced opacity, the highly speculative nature of the art market, are all factors that contribute in this criminal drift.

The art market in Senegal, like almost everywhere in the world, is little aware of these issues, which are of critical importance. Doctor of Law and Consultant Sylvain Sankalé will introduce the topic.

REFLECTIONS

Under the aegis of the Ministry of Culture, consideration could be given to creating a support facility tasked with providing artists, merchants and collectors with services and assistance to secure transactions. Services offered would be many and could mainly include the following:

  • Providing legal advice for setting up of institutions, preparing contracts, among others;
  • Supporting stakeholders, artists and merchants with their administrative; procedures;
  • Supporting merchants with their digital exhibitions and entry into the circuit of international events (fairs, etc.), including by providing insurance, transport or any other types of services;
  • Advising and making proposals to public authorities.

Professional Meetings Coordinator: Abdoul Aziz DIENG.