The brazilian contemporary art market: Challenges and limits of internationalization in a fast growing sector

This paper presents the first results of a research on the Brazilian contemporary art market involving 40 galleries. The research aimed primarily to draw an economic portrait of the sector. But, beyond significant quantitative information - such as layers of budget per gallery, number of artists represented, participation in international art fairs, etc. - here we would like to discuss some qualitative aspects which are particularly interesting for sociological analysis:

a)    Young galleries and new models of business

Contemporary art market in Brazil growing in the last years: 50%  of the galleries participating in the survey were created in the last decade, most of them increased their business in almost 40% in the last 2 years. How is this fast growth affecting the traditional business model, based on a gallery-artist relationship?  

b)   Challenges and limits of internationalization

Although most of galleries have a strong focus on international insertion, their income is mainly generated by the national market. It seems internationalization is a key strategy that has to be understood beyond economic interests.

c)     Institutionalization of the market

Within a context where public art institutions are highly dependent on private sponsorship and are not able to follow and collect contemporary art production, the art market and its agents end up playing an important role in the support, recognition and circulation of the contemporary art production, much beyond their commercial primary mission.

The contemporary art market has been a current theme of the sociology of the arts, and an interesting field to explore the effects and limits of cultural globalization processes in different contexts (MOULIN, FOURNIER , QUEMIN, VELTHUIS).  We hope to contribute to expand the discussion by bringing into light the context of an emerging economy: Brazil, a new player in the international contemporary art field.