Project Latitude Publishes Research Showing Brazilian Art Market Growth

Project Latitude, the second industry research conference involving the Brazilian art market, presented in July has released results. It showed some important statistics compiling data concerning contemporary art in Brazil. Unlike the estimates presented by the Folha de Sao Paulo journal, the art market in Brazil has not stalled. A new modo operandi of significance about the market which is looking for the professionalism needed to expand.

Latitude is the bureau for Promotion Project International Contemporary Brazilian Art Market was created in 2007 by Apex-Brazil in partnership with Fundação Bienal de São Paulo [São Paulo’s Biennal] and segment Brazilian galleries from primary market with the aim of promoting Brazilian exports of this sector. Participate in the second edition of the 44 galleries of the primary market for contemporary art related to ABACT and Latitude (sampling 37.5% higher than in the previous survey}, of this total, comprises the most active galleries, professionalized and internationalized country. The survey answered by the galleries have almost double the topics presented in the previous and also covers detailed qualitative aspects.

The research provides detailed information about contemporary art galleries in the primary market, organised into five key themes: the profile, scale, modes of operation, the indicators of growth and internationalization of the galleries. Within these topics, there are data on the infrastructure of the galleries, the number of artists represented by them, the number of employees and collaborators, fairs priority, the difficulties for the expansion of the business, their internationalization strategies, among many other.

Some interesting figures were revealed in this survey, as 10% of this galleries was open in 2012 and the estimative from the total of the Art sold in the period was near 8 milion reais (about 2.260.445,00 pounds) representing 81% more transactions than the previous year. The research shows the growth of the galleries representing at least one foreign artist and how others are participating in more international fairs such as in London, especially at the Frieze art Fair, Pinta, and Art14. This has a knock on effect promoting  the growth of brazillian art in United Kingdom with 238% more than the previous year.France, is the second destination in the EU for showcasing work from the reigon.

Complete informations about market:

Words: Douglas Negrisolli

Photo: João Paulo Accacio

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