TKMG Auction House Holds May 1st Sale
by Ladun Ogidan
On May 1, 2015, the Terra Kulture Mydrim Gallery (TKMG) Auction House will once again host its annual art auction in Lagos. This year’s sale will be conducted by seasoned auctioneer Yinka Akinkugbe and will feature 90 lots in various media by celebrated and emerging artists from across Nigeria and West Africa.
Highlights include Bruce Onobrakpeya’s Portfolio of Art and Literature, 1980-2005, plastograph/etching with a presales estimate of ₦2,500,000-3,500,000 ($12,691-17,768); Kolade Oshinowo’s Aso Ebi, 2012, oil on aso oke, 130x90cm, estimated between ₦2,500,000-3,200,000 ($12,691-16,245); and Ablade Glover’s Market Queen II, 2011, oil on canvas, 100x150cm, estimated between ₦2,200,000-2,500,000 ($11,168-12,691).
Interestingly, despite the rise of photography on the Nigerian market, this sale features only one work in photography by Tunde Owolabi titled Flames, 2004, a giecle print on canvas, estimated between ₦300,000 to N450,000.
It is hopeful that this year’s auction will fare better than its April 11, 2014 sale, which offered 90 lots. The top two sales of the evening were Bruce Onobrakpeya’s Dance in the Bush at ₦3,650,000 ($18,530) and El Anatsui’s Untitled at ₦3,050,000 ($14,480). The overall figure achieved was ₦38,510,000 ($195,500), representing 64% of total lots entered for the auction.
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