Investing in the Arts

 Art is something very personal to those who take the time to really appreciate it. Paintings, drawings and sculptures speak volumes to both the artist and the art lover; a simple statement that reaches into the soul and moves the admirer to deeper emotion. The L’Atelier Art Awards provides more than that, through huge variety, innovative mediums, and an inspiring standard, it is art from aspiring young talent. And it is truly South African

ABSA’s L’Atelier Art Award, the longest running and largest nationally run art competition, provides an opportunity for young artists between the ages of 21 and 35 to exhibit their talent, bare their souls and, for a lucky few, help fund their dream to become internationally accepted artists. With over R300 000 in prize money, including return flights to Paris to stay at the Cité Internationale des Arts, the standard is high and artists from all walks of life are given the opportunity to take their passion further.

The first competition of this kind was held in 1985 by the Association of Art in Pretoria, and was started to provide a platform for South African artists to exhibit their talent at a time when they were fairly isolated from the rest of the artistic world. The winners were sent overseas to experience international art at its very best. They were then, and still are, accommodated at the Cité Internationale des Arts, which is an artist’s complex in Paris. ABSA Art Curator, Cecile Loedolff , says that, in Paris, the artists are given the opportunity to experience art at its very best international standard, network and learn from other artists and exhibit their work in the gallery. “It’s a great learning curve,” says Loedolff, “and it provides them with a unique development opportunity meaning they leave South Africa with many insecurities and often come home with self belief and a greater commitment to their art.”

The L’Atelier Awards accept art from every different medium with the exception of the performing arts. “We have had to move with the times,” says Loedolff “I am constantly surprised and impressed with the types of medium that our artists exhibit, and equally so with what the investors are interested in! Last year I was astounded by artwork in DVD format which is displayed on flat screen TV, they were snapped up, and the buyers came back for more saying they liked to alternate which piece of art was playing.” Mediums include everything from paintings to photography, from paper to DVD, still life to moving sculptures and everything in between. “Every year there is something to pique the interest of the pickiest investor and we successfully sell about 50 percent of the works on opening night,” adds Loedolff.

The first winner of the L’Atelier Awards was Penny Siopies, her painting left no doubt that she deserved the prize, and today she is sharing her wealth of knowledge and skill with art students as the head of the Fine Arts Department of Wits University. Since its conception, the ABSA L’Atelier Art Awards have given many artists the springboard they needed to launch their careers and today, many of the Globally famous South African artists can trace their career roots back to the competition.

The first round of the competition runs from the 2nd to 6th March 2009 and art works will be on display regionally at Belleville, Bloemfontein, Durban, East London, Johannesburg, Polokwane, Port Elizabeth, Pretoria and Thohoyandou. The second round is in May and the finalists will be announced at a gala exhibition on July 23rd 2009. Around 1000 pieces of art from all different mediums are exhibited, each artist can exhibit a maximum of 3 pieces and the best 100 pieces are chosen to go through to the second round.

“Investing in art at this competition is a great way to own early works of artists who will soon become world famous and whose value could increase exponentially,” advises Loedolff. “We have artworks in the ABSA galleries from artists who were originally selling their work for R5000 a piece, and who now command in excess of R30 000 a piece.” A piece of art at opening night once sold for R60 000. “The artwork will tell you if it’s worth it” She adds.

If you are someone who loves art and would like to become an investor, this is the place to start. It is the cream of the crop in South African art and these artists are going places. You can follow their careers and know that you were there from the very beginning. To find out more go to www.absa.co.za or phone 011 350 5139.