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Latin American art has held a strong place in the international market since the 1990s, with markedly less speculation than other geographic areas, such as in China. However, the growth of international exhibitions in Latin America has helped to increase the visibility of modern and contemporary Latin American artists on the global stage, both expanding awareness of regional traditions and dispelling stereotypical notions of a monocultural Latin American style.

The São Paulo Art Biennial, the second oldest art biennial in the world, was founded in 1951 under the auspices of the Italian Brazilian industrialist and arts patron Francisco Matarazzo Sobrinho (also known as Ciccillo Matarazzo) and his wife Yolanda Penteado. Initially conceived as an extension of the then recently established Museu de Arte Moderna de São Paulo (1948), the Biennial aimed to provide knowledge of contemporary art trends—primarily from Europe and the United States—to the Brazilian art world while also spotlighting Brazil as an international contemporary art center. Modeled after the Venice Biennale, the São Paulo Biennial in its early years was organized around national pavilions (“National Representations”) exhibiting works from Brazilian artists and those from countries participating in the event via diplomatic invitation. In the early 2000s this format was completely abandoned; only the display of Brazilian art works and international exhibitions organized by rotating chief curators remained. Since ...

Article

Christophe Spaenjers

Set of financial methods, instruments, and business models that are used in the Art market. Important developments since the 1960s include the spreading availability and use of art price information and price indexes (see Art index), the emergence of loans collateralized by artworks, repeated efforts to create art investment structures, and a strong growth in art market advisory services provided by wealth managers and new entrepreneurs (...

Article

Collection of Latin American art based in New York and Caracas. Founded in the 1970s by Patricia Phelps de Cisneros and her husband, Gustavo A. Cisneros, the mission of the Colección Patricia Phelps de Cisneros (CPPC) is to support art education throughout Latin America, and to promote the region’s vast contributions to the visual arts internationally. To this end, under the auspices of the Fundación Cisneros, the CPPC supports a rich and varied programme of collecting, exhibitions, and publications. The CPPC is organized around five major sub-collections: modern art, contemporary art, colonial art, the work of artists who recorded their travels to Latin America, and the art of the Orinoco region....

Article

Since the 1980s art markets have developed rapidly outside of Europe and the USA. In the so-called BRIC countries (Brazil, Russia, India, and China) this development has been particularly dynamic. With aggregate sales estimated at €11.5 billion, China is the second largest market for art and antiques in the world after the USA (McAndrew ...

Article

Noémie Goldman and Kim Oosterlinck

Term for the return of lost or looted cultural objects to their country of origin, former owners, or their heirs. The loss of the object may happen in a variety of contexts (armed conflicts, war, colonialism, imperialism, or genocide), and the nature of the looted cultural objects may also vary, ranging from artworks, such as paintings and sculptures, to human remains, books, manuscripts, and religious artefacts. An essential part of the process of restitution is the seemingly unavoidable conflict around the transfer of the objects in question from the current to the former owners. Ownership disputes of this nature raise legal, ethical, and diplomatic issues. The heightened tensions in the process arise because the looting of cultural objects challenges, if not breaks down, relationships between peoples, territories, cultures, and heritages....