Mandela art: Value may plummet
2005-05-31 22:40
Johannesburg - The value of former president Nelson Mandela's artworks may fall from a "high" of more than R100 000 to "R500 in curiosity value".
This is the view after the former president won the first round of the court battle against his former confidant and lawyer Ismail Ayob and his business partner, Ross Calder.
Deputy Judge-President Phineas Mojapelo issued a court order in Johannesburg High Court on Tuesday in terms of which Calder, who markets the former president's artworks, must immediately cease selling and marketing "Madiba Art".
In terms of the order, Calder and his companies, Ad Point Trading 47 and Abeille Investment and Holdings, may no longer market, sell or distribute Mandela's artworks and other goods with Mandela's name on them.
Dealers (agents and sub-licence holders) across the world who sell the former president's work on Calder's behalf also have to stop doing this immediately.
Value could drop considerably
Galleries which had bought Mandela's artworks from Calder, can still sell them, in terms of the court order, and collectors who have acquired such art can resell it.
Stephan Welz, art auctioneer and expert, said, however, that Tuesday's court developments probably would reduce considerably the demand for, and value of, Mandela's artworks.
Eventually, his work might have only "R500 in curiosity value".
"The artist, Salvadore Dali, had a similar thing happen to him.
"When he was old and no longer had control of his day-to-day affairs, people in his employ got him to sign blank sheets of paper or place his signature (without his permission) on art.
"Although his paintings fetch high prices, most auction houses (as a result of these forgeries) refuse to handle his work."
Welz said that, as a result of this "confusion" about what was and what was not genuine, many art experts "rather avoid the whole lot" and Mandela's artworks might have a similar fate.