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The 10 Best Booths at
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Top 25 Most Collectible Living Latin
American Artists
artnet News, Thursday, April 23, 2015
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Latin America is a growth market for sure, but what of its local artist
market? Sales at auction of Latin American modern and contemporary
art are mostly purchased by buyers of Latin American ancestry. But
there is much potential for this relatively small sector of the art market.
We've characterized Latin American countries as those that are south of
the United States and where Romance languages are officially spoken.
On the list you'll find the much buzzed about Oscar Murillo, Gabriel
Orozco, Beatriz Milhazes (who just had a show at the Pérez Art Museum
Miami this past December—see Beatriz Milhazes and Mario Garcia Torres
Show Boldly at the Pérez Art Museum), and Tomás Sánchez, perhaps the
most well-known living Cuban artist.
With help from the artnet Analytics team and the artnet Price Database
team, we sifted through the numbers and results to find out more about
what's moving in the Latin American art market.
Overall, the fine art auction market for living Latin American artists is
quite small, making up less than 2 percent of the global auction market.
From January 2011 to March 2015, the total for all currently living fine
art Latin American artists was just over $261 million, according to the
artnet Price Database. That's a small fraction compared to the $4.4
billion at auction that is attributed to artists of Chinese descent (see
Top 50 Most Expensive Chinese Artists of 2014 at Auction).
The top 50 living Latin American artists brought in $209 million of that
$261 million sum, and dominating the list is heavy-hitter Fernando
Botero, who sold $79 million worth of art (four times the value of the
next artist on the list).
Are you curious about other artists who didn't make the list? Browse
more Latin American artworks for sale on artnet.
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