arteBA, the Latin American strong arm
Art Market | In the hyper-competitive context that reigns between Sao Paulo, Mexico City and Buenos Aires, arteBA is a strategic asset for the Argentinean federal capital. Faced with an ever-increasing number of contemporary art fairs, it sets itself apart as the heart and soul of the Latin American market.
In its 24th year, about 77,000 visitors roamed the Rural, and although this means a 25% drop from its previous edition, the fair had another successful year where 450 artists represented by 81 galleries exposed works. 21 galleries were first time participants, signifying a 26% renewal rate, compared with an annual rate of 5% at Art Basel.
Of the 18 nations represented, there are 39 Argentinean galleries (48%), 61 Latin American galleries (75% - a rate that jumps 3 points when including the 2 US galleries) and 18 European galleries (22%). Divided into 8 sectors, the main section counts 6 European galleries out of 49 (12%) and 41 Latin American galleries. As for the U-Turn Project Room by Mercedes-Benz, 8 of the 15 exhibitors are European, for a 53% share. Although we note an opening up to the international scene, arteBA remains highly centred on the Latin zone of the American continent. A phenomenon that is only confirmed when we take a closer look at the statistics of other international fairs : the rate of representation of French galleries during the 2014 FIAC was 24%. The focus on the Latin scene is echœd in the choice of artists, of which the overwhelming majority are Latin American.
On the other hand, the prices are far more accessible than those on the European and US markets, which attracts both private and institutional sales. The latter often being the most important ones. MALBA procured a work by Argentinean artist Graciela Gutiérrez Marx, as did the Tate Gallery. A Luciana Lamothe for the Museo MAR; two works by Magdalena Jitrik for Madrid’s CA2M, three Fernanda Laguna’s for LACMA; and an Amalia Pica work for the Guggenheim.