MARKET

Peruvian contemporary art is experiencing a vibrant moment. Over the past decade, its art ecosystem has begun to consolidate, with a growing local collector base, a more professional gallery scene, and an increasing number of artists gaining international visibility. However, it remains an early stage, with a small and fragile market that requires stronger structures to support its development. Unlike other countries in the region, Peru lacks strong institutional support for contemporary art.

Mexico has emerged as a significant contemporary art hub on the international stage. Since the inception of Zona Maco, Mexico City has become a key destination for cultural pilgrims, marking the start of the global art fair calendar.

ARCOmadrid 2025 comes to an end with almost as many answers as questions. On the one hand, the concept of the fair—its commercial dimension—is now firmly established, marking a shift from the situation of a few years ago, when ARCO’s role as a meeting point for the general public seemed essential. This does not mean that attracting an audience with access to contemporary art is no longer part of its strategy, but rather that the fair now operates with a dual focus on two clearly defined lines of work: what and how. This shift consolidates the growing emphasis on collectors and institutions.

The Mexican art scene is going through an exceptional moment. There is a palpable energy, with new galleries opening, others already consolidated in the process of expansion and Mexican artists and curators gaining more and more international visibility. Their presence in museums, biennials and global fairs continues to grow, consolidating Mexico as a key player in the contemporary art scene.

As 2024 draws to a close, it’s time to assess the state-of-the-art market over the past year. After the post-pandemic boom of 2021 and 2022, the art market suffered a marked slowdown in 2023, which has continued through 2024. According to auction data, the market has accumulated a total decline of 51% since 2022.

Miami Art Week has just concluded, providing an excellent opportunity to reflect on Miami's evolution as a growing art center and a prominent player in the art market.

Since its foundation in 2007 in New York, Pinta has established itself as a key event in promoting Latin American, Spanish, and Portuguese art. What began as a boutique fair in the Big Apple has evolved into a global concept connecting artists, galleries, and collectors worldwide.

The November auctions of Modern and Contemporary Art in New York, long considered barometers of the art market’s health, showcased striking contrasts last week, revealing both the enduring power of exceptional art and the market’s appetite for spectacle.

¿Inversión o pasión? Una guía para navegar por el mercado del arte (Investment or passion? A guide to navigating the art market) is the new book by María Sancho-Arroyo, where the author delves into the world of art collecting.

Mid-October marks a pivotal moment in the art world, as the spotlight shifts between London and Paris. First up is London, with Frieze opening on October 9^th accompanied by a flurry of gallery openings and art events across the city. This season also sees important auctions, with leading houses hosting sales of Modern and Contemporary art.

In April 2022, my family suggested we attend the opening of an exhibition by Marisol Escobar, a French-Venezuelan artist whose name was vaguely familiar to me. I wasn’t particularly excited, but wanting to spend time with them, I agreed to go. Little did I know that this visit would leave an incredible mark on me.

The first half of the year concluded on a low note, and as the art market gets ready to gear up for the last semester, a clearer picture of the challenges faced is emerging.

On Wednesday, August 28, the 33rd edition of arteba, the first art fair founded in Latin America and the most significant in Argentina, began. This year's event features over 400 artists represented by 65 galleries from 16 cities.

Paraguay is rarely mentioned when discussing the global art market, but this might change in the coming years due to its growing activity in the contemporary art sector. This activity is primarily driven by local galleries, which, aware of the cultural isolation the country has experienced for many years, are actively promoting local collecting and seeking to promote their artists through fairs and participation in events like the current Pinta Sud|ASU.

If the history of art is, to a certain extent, "the history of the complex infrastructure generated by the development of relations between artists and economic power" (López Zumelzu, 2020), when we are faced with works that subvert the canons established by tradition -and still belong to it- we may ask ourselves, how can we operate from within this framework to question the policies that constitute and decide what is made visible, and what is consequently made invisible?

The art market stands out as a unique and enigmatic sector, notoriously difficult to measure and largely unregulated. Yet, it never fails to captivate the media, drawing attention with its dazzling multimillion-dollar sales and the alluring glamour of art collecting.

It is with great enthusiasm that we announce the inauguration of a new section in our magazine, dedicated to the fascinating and dynamic art market. This section is designed to serve both experts and news collectors  as well as enthusiasts who wish to enter, participate, and better understand this exciting world. The section benefits from the guidance and advice of María Sancho-Arroyo, an expert in the field.

The Art Basel in Basel fair concluded on June 16th, signaling the near end of the market season before summer. Despite the June London auctions (featuring works from antiquity to contemporary art) this year’s London season is notably diminished.

Last week's New York auctions, dubbed "Giga Week," saw art sales soar to an impressive $1.4 billion. This significant figure follows numerous sales at bustling art fairs over the past two weeks. While this amount represents a 22% decrease from the same week in 2023, and 55% less from 2022, auction houses performed admirably given the current challenging economic and political climate.

The NY spring season has concluded with the major auctions of Contemporary and Modern art. While the sales have not been a disaster, most lots have sold either below or close to the low estimate, with some last-minute withdrawals. One year ago, the May sales already marked a clear recalibration of prices. Over the past 12 months, the market has continued its slowdown, and this week's sales have confirmed the trend. It is not a brusque fall or a crash, but a slow-motion downward spiral in prices, with very few but exciting surprises.

Leonora Carrington’s painting "Les Distractions de Dagobert" (1945), valued between $12 to $18 million, is generating considerable excitement as it heads to auction at Sotheby's this May. Having been in an American collection since 1995, its upcoming sale not only reflects the escalating market demand for Carrington's pieces but also underscores the rising interest in female Surrealist artists.

With the opening of Frieze NY last Wednesday, the NY Contemporary sales season has kicked off (if it ever truly stops!). From now until mid-May, it's a whirlwind of fairs and gallery openings, culminating in the grand auctions. May is a crucial time for the US art market calendar and the results will have global repercussion for the remainder of the year.

Art fairs and biennials inhabit the same artistic universe but serve distinct purposes. The former primarily functions as commercial hubs where artworks are bought and sold, whereas biennials act as global stages, celebrating the rich diversity of contemporary art.

Digital art experiences a new impulse along with new payment methods.