Art market heats up in Rio with middle-class rise
RIO DE JANEIRO (AP) - As a salesman at a luxury clothing store, Beto Silva has seen his earnings jump over the past decade as Brazil’s economy has boomed.
That doesn’t mean he’s moved out of his cramped, 600-square-foot apartment, but it’s now filled with the spoils of his new wealth: paintings, lithographs, collages and sculptures, many of the purchases still shrouded in protective bubble wrap and stacked a dozen deep in his study.
Like other thriving middle-class Brazilians, Silva has bought his way into the growing ranks of collectors who are helping to put Rio de Janeiro on the international art map.
Art collecting was long considered the exclusive domain of a tiny cadre of enthusiasts from the country’s ruling elite, but Rio’s middle class is jumping in and investing, and international dealers are scrambling for a toehold in this promising market.
“I used to feel a bit out of place going into a gallery,” Silva said. “But now, people know me and appreciate my eye and what I know about art.”
In what collectors here interpret as a sign that their laid-back beach city has finally arrived, Larry Gagosian, one of the world’s foremost gallerists, announced this year he’ll take part in the second edition of the city’s new international art fair, ArtRio, a four-day event that opens Sept. 13. His is only one of a flock of famed galleries taking part.
“There’s been a paradigm shift. Art has become an object of desire here,” said Katia Mindlin Leite-Barbosa, president of Sotheby'sBrazil. “It’s becoming something of a marker of status, like a nice car or a fancy vacation.
“It used to be that you couldn’t even find listings for gallery exhibitions in the paper. Now there’s a whole weekly section devoted to it,” she said. “The interest is palpable.”
Though Sao Paulo, the richer, more sophisticated megalopolis to the south, has had its own international art fair for the better part of a decade, Rio had no major art market event until ArtRio got its start last year.
Its debut was a spectacular success. More than 80 galleries from across Brazil and around the world recorded sales totaling $60 million. Turnout for the four-day show was twice as high as expected, with more than 40,000 people flooding through the fair.
For many visitors, it was their first real exposure to a gallery, said artist Brenda Valansi, who co-founded the fair along with gallerist Elisangela Valadares.
“It used to be that we Brazilians were just worrying about inflation, security, making ends meet. But the country has changed so much and so quickly that now people have the luxury of focusing on other things, including art,” Valansi said. “With ArtRio, we’re trying to debunk this notion that art is just for a few and show that you don’t have to be a millionaire to be a collector.”
She added that prices at last year’s fair ranged from $500 to $5 million. “Now, any working class person who’s interested can enter the art market,” she said.
ArtRio mushroomed this year and is slated to take up twice as much space as last year’s staging at the refurbished Porto Maua port area, with its stunning views of Guanabara Bay.
Some 120 galleries, 50 percent more than last year, are expected to participate. Half of them are international, hailing from New York, London, Zurich, Berlin and other more traditional art capitals. Organizers said the split between local and international galleries reflected the mix of Brazilian and foreign art being bought.