Broad Strokes: Faith Ringgold

January 25, 20224 min read
Share on facebookShare on TwitterShare on Linkedin

Artist, educator, and native New Yorker Faith Ringgold’s paintings, quilts, and mixed-media installations are celebrated for their unflinching portrayal of African American and female experiences. Born in 1930 and raised in the midst of the Harlem Renaissance, Ringgold’s art was influenced by the works of Jacob Lawrence and Romare Bearden, both of whom are included in the Artists of Harlem Fund. Though she sold few paintings from her early solo shows, Ringgold has recently come back into the spotlight as a shining example of socially conscious art from the twentieth century.

The public’s recent interest in the artist was sparked by Serpentine Gallery’s 2019 hugely successful retrospective of her work, the first of its kind in Europe. That same year, as a part of their reopening and permanent collection reinstallation, the Museum of Modern Art hung her painting The American People Series #20: Die, 1967, beside Pablo Picasso’s iconic Les demoiselles d’Avignon, 1907. On February 17, 2022,  a greatly anticipated retrospective of her body of work, “Faith Ringgold: American People,” will open at the New Museum in Manhattan.

Ringgold in the news

Recently, former New York First Lady Chirlane McCray announced that Ringgold’s 1971 oil painting For the Women’s House will move from the Rikers Island Correctional Institution, where it has lived since its creation, to the Brooklyn Museum. In 2017, the museum prominently featured the artwork in its blockbuster exhibition “We Wanted a Revolution: Black Radical Women, 1965–85.”

A rise in Ringgold’s market

While only three of Ringgold’s paintings have been offered at auction since 2008, they all sold at an average of 2x their pre-sale estimates. In 2015, the Crystal Bridges Museum of American Art set Ringgold’s auction record by purchasing one of her quilts, initially commissioned by Oprah Winfrey as a gift for Maya Angelou on her 61st birthday, for $461,000. In 2018, her 1997 acrylic-on-quilt painting Listen to the Trees hammered at $375,000, almost four times its expected sale price of $80,000–$120,000k.

Athena’s analysis also reveals that, between 2008 and 2019, the average price of a painting by Ringgold has grown at a compound 30.4% annually. With her forthcoming retrospective and increasing visibility, the artist’s works are likely to continue to rapidly increase in value.

Ringgold’s life and art

         Ringgold’s interest in art began as a young girl. Confined to her parents’ house in Harlem due to chronic asthma, she kept herself busy and entertained by drawing and learning to sew from her mother, who worked as a fashion designer. Though she always intended to study art, her application to City College’s fine arts program was denied due to her race and gender. Ringgold instead studied art education, graduating in 1955.

         Shortly after, Ringgold got an MFA and began her career as a painter, all while continuing to teach. In 1963, Ringgold wrote to the artist Romare Bearden (also included in the Fund) requesting membership into his artists group Spiral, an association dedicated to the discussion of the intersection of the Civil Rights movement and artistic practice. She was rejected outright. After struggling for many years to find gallery representation, she was finally offered a solo exhibition by Robert Newman in 1967. Her first show included works from the “American People Series,” 1963–69, which responded to contemporary political events with graphic representations of marches, riots, and racialized violence. Reflecting on these works, she wrote: “It was what was going on in America, and I wanted people to look at these paintings and see themselves… I wanted to create art that made people stop and look . . . The more they look, the more they see.”

In the 1970s, Ringgold became active in feminist groups like the Ad Hoc Women Artists’ Committee, a collective which banded together to protest the Whitney Biennial’s failure to feature a significant number of female artists. The next decade saw the artist making her first story quilts, elaborate narrative paintings surrounded by borders of textiles. Her story quilt Tar Beach, currently in the collection of the Guggenheim, inspired her first children’s book of the same name, for which she won over twenty awards. Still living and working in New Jersey, Ringgold has had a trailblazing career in the arts and activism for nearly six decades. 

For more on Ringgold, explore Yieldstreet’s Art Equity Fund II, the newest in a series of art equity focused funds, which is expected to own a portfolio of approximately 10-20 artworks by artists who have been influenced by a century of experiences in Harlem, NYC.

We believe our 10 alternative asset classes, track record across 470+ investments, third party reviews, and history of innovation makes Yieldstreet “The leading platform for private market investing,” as compared to other private market investment platforms.

1 Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.

3 "Annual interest," "Annualized Return" or "Target Returns" represents a projected annual target rate of interest or annualized target return, and not returns or interest actually obtained by fund investors. “Term" represents the estimated term of the investment; the term of the fund is generally at the discretion of the fund’s manager, and may exceed the estimated term by a significant amount of time. Unless otherwise specified on the fund's offering page, target interest or returns are based on an analysis performed by Yieldstreet of the potential inflows and outflows related to the transactions in which the strategy or fund has engaged and/or is anticipated to engage in over the estimated term of the fund. There is no guarantee that targeted interest or returns will be realized or achieved or that an investment will be successful. Actual performance may deviate from these expectations materially, including due to market or economic factors, portfolio management decisions, modelling error, or other reasons.

4 Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.

5 Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.

6 The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments, excluding our Short Term Notes program, weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including July 18th, 2022, after deduction of management fees and all other expenses charged to investments.

7 Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Alternative Income Fund before investing. The prospectus for the Yieldstreet Alternative Income Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetalternativeincomefund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.

8 This tool is for informational purposes only. You should not construe any information provided here as investment advice or a recommendation, endorsement or solicitation to buy any securities offered on Yieldstreet. Yieldstreet is not a fiduciary by virtue of any person's use of or access to this tool. The information provided here is of a general nature and does not address the circumstances of any particular individual or entity. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of this information before making any decisions based on such information.

9 Statistics as of the most recent month end.

300 Park Avenue 15th Floor, New York, NY 10022

844-943-5378

No communication by YieldStreet Inc. or any of its affiliates (collectively, “Yieldstreet™”), through this website or any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice, except for specific investment advice that may be provided by YieldStreet Management, LLC pursuant to a written advisory agreement between such entity and the recipient. Nothing on this website is intended as an offer to extend credit, an offer to purchase or sell securities or a solicitation of any securities transaction.

Any financial projections or returns shown on the website are estimated predictions of performance only, are hypothetical, are not based on actual investment results and are not guarantees of future results. Estimated projections do not represent or guarantee the actual results of any transaction, and no representation is made that any transaction will, or is likely to, achieve results or profits similar to those shown. In addition, other financial metrics and calculations shown on the website (including amounts of principal and interest repaid) have not been independently verified or audited and may differ from the actual financial metrics and calculations for any investment, which are contained in the investors’ portfolios. Any investment information contained herein has been secured from sources that Yieldstreet believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefore.

Private placement investments are NOT bank deposits (and thus NOT insured by the FDIC or by any other federal governmental agency), are NOT guaranteed by Yieldstreet or any other party, and MAY lose value. Neither the Securities and Exchange Commission nor any federal or state securities commission or regulatory authority has recommended or approved any investment or the accuracy or completeness of any of the information or materials provided by or through the website. Investors must be able to afford the loss of their entire investment.

Investments in private placements are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Additionally, investors may receive illiquid and/or restricted securities that may be subject to holding period requirements and/or liquidity concerns. Investments in private placements are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.

Alternative investments should only be part of your overall investment portfolio. Further, the alternative investment portion of your portfolio should include a balanced portfolio of different alternative investments.

Articles or information from third-party media outside of this domain may discuss Yieldstreet or relate to information contained herein, but Yieldstreet does not approve and is not responsible for such content. Hyperlinks to third-party sites, or reproduction of third-party articles, do not constitute an approval or endorsement by Yieldstreet of the linked or reproduced content.

Investing in securities (the "Securities") listed on Yieldstreet™ pose risks, including but not limited to credit risk, interest rate risk, and the risk of losing some or all of the money you invest. Before investing you should: (1) conduct your own investigation and analysis; (2) carefully consider the investment and all related charges, expenses, uncertainties and risks, including all uncertainties and risks described in offering materials; and (3) consult with your own investment, tax, financial and legal advisors. Such Securities are only suitable for accredited investors who understand and are willing and able to accept the high risks associated with private investments.

Investing in private placements requires long-term commitments, the ability to afford to lose the entire investment, and low liquidity needs. This website provides preliminary and general information about the Securities and is intended for initial reference purposes only. It does not summarize or compile all the applicable information. This website does not constitute an offer to sell or buy any securities. No offer or sale of any Securities will occur without the delivery of confidential offering materials and related documents. This information contained herein is qualified by and subject to more detailed information in the applicable offering materials. Yieldstreet™ is not registered as a broker-dealer. Yieldstreet™ does not make any representation or warranty to any prospective investor regarding the legality of an investment in any Yieldstreet Securities.

YieldStreet Inc. is the direct owner of Yieldstreet Management, LLC, which is an SEC-registered investment adviser that manages the Yieldstreet funds and provides investment advice to the Yieldstreet funds, and in certain cases, to retail investors. RealCadre LLC is also indirectly owned by Yieldstreet Inc. RealCadre LLC is a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Information on all FINRA registered broker-dealers can be found on FINRA’s BrokerCheck. Despite its affiliation with Yieldstreet Management, LLC, RealCadre LLC has no role in the investment advisory services received by YieldStreet clients or the management or distribution of the Yieldstreet funds or other securities offered on our through Yieldstreet and its personnel. RealCadre LLC does not solicit, sell, recommend, or place interests in the Yieldstreet funds.

Yieldstreet is not a bank. Certain services are offered through Plaid, Orum.io and Footprint and none of such entities is affiliated with Yieldstreet. By using the services offered by any of these entities you acknowledge and accept their respective disclosures and agreements, as applicable.

Investment advisory services are only provided to clients of YieldStreet Management, LLC, an investment advisor registered with the Securities and Exchange Commission, pursuant to a written advisory agreement.

Our site uses a third party service to match browser cookies to your mailing address. We then use another company to send special offers through the mail on our behalf. Our company never receives or stores any of this information and our third parties do not provide or sell this information to any other company or service.

Read full disclosure