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Art biennials in Latin America  

Iliana Cepero

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 ...


Art-related finance  

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 (see also Investment).

The first major development has been the spread of art price information and art price indexes over the last half-century. After a few difficult decades, art price levels and public interest in the art market were going up again in the 1950s and 1960s. A number of books on the history of the art market and on art investment that were published around that time—Le Vie Etrange des Objets (1959) by Maurice Rheims, Art as an Investment...


Colección Patricia Phelps de Cisneros  

Tom McNulty

[CPPC; Cisneros Collection]

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.

The modern art collection includes a great many important works by 20th-century Latin American artists, particularly geometric abstractionists from such countries as Argentina, Brazil, Uruguay, and the Cisneros’ native Venezuela. This segment of the collection takes on a global aspect, with the inclusion of major European and North American artists whose work relates to the masters of Latin American art. Representative modernists include Joaquín Torres García, Gego, Lygia Clark, Roberto Matta, Hélio Oiticica, Francisco Narváez, and Alejandro Otero, among others....


Globalization of the art market  

Olav Velthuis

[emerging art markets]

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 2014). Works of art made by modern and contemporary artists from all four countries regularly fetch more than $1 million at auction.

The rise of the BRICs has coincided with the global integration of what used to be local art markets: demand for and supply of particular artists or artistic movements may now be dispersed across the globe. The boom which global art markets have witnessed in the new millennium can be attributed partially to new buyers from countries like China and Russia developing an interest in art, both old and new. In describing the emergence of the BRICs, the focus in this article will be on modern and contemporary art, since that is where market development has been most significant, both qualitatively and quantitatively....



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.

The history of plundering and art imperialism may be traced back to ancient times. Looting has been documented in many instances from the sack by the Romans of the Etruscan city of Veii in ...