Cape Town - Any investor who invests R38 000 with the prospect of an estimated return of R2.5m to almost R3m some 20 years later knows that he has entrusted his money to one of the best types of investment available.
This is what the South African art market has again demonstrated with a painting by Pierneef, The Baobab Tree, that Sotheby's Johannesburg auction house auctioned in March 1987 for R38 000. Later this month Stephan Welz & Co will be auctioning the same painting, which has a current estimated value of R2.4m to R2.8m.
Stephan Welz, the leading appraiser of South African art, said on Wednesday that art in general - and that by South African masters - "always remains a superb investment".
- Sake24.com
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