A woman looks at an art piece at the 47th Bayou City Art Festival Downtown in Houston, Texas, the United States, Oct. 13, 2018. This year's Bayou City Art Festival Downtown brought over 300 artists from all over the world. (Xinhua/Yi-Chin Lee) (gj)

CAPE TOWN – Highly acclaimed and at the time deemed controversial South African artist, Irma Stern's painting, Dahlias, is set to go on auction at Strauss & Co in Cape Town today and could reportedly fetch up to R12 million.  

The painting belonged to Count Natale Labia, who purchased the painting at an auction back in 1994 at a cost of R 187 000. Dahlias (1947) is one of 22 paintings from Labia’s collection going under the hammer today, following the count’s death nearly two years ago.

Managing Director of Elite Risk Acceptances, Christelle Colman said, “Something as meaningful as a personal art collection should not be overlooked when it comes to insurance and insuring the piece for the correct value and cover options, taking all the unique factors such as the valuation of the artwork as well as the potential appreciation into account. 

"People’s collections are a mark of who they are, a measure of their success – a personal reward for hard work and a reflection of discerning taste.”

 PERSONAL FINANCE