ARTEBA 2024: THE PULSE OF THE ART MARKET IN ARGENTINA

Founded in 1991 in Buenos Aires, arteba was established as a platform to promote Argentinian art and bring artists closer to a wide audience. It quickly became one of the region's most important fairs and a driving force in the local art market. It has also played a pivotal role in the Latin American art scene, being the first art fair established in the region. It was later followed by other notable fairs such as Zona Maco in Mexico (2002), ArtBo in Colombia (2005), and SP-Arte in Brazil (2005). With over 30 years of history and in the midst of a challenging economic context, this edition, featuring more than 400 artists represented by 65 galleries, opens its doors to special guests on August 28 and 29, and to the general public from Friday, August 30 to Sunday, September 1. For its organizers, the prospect of holding this edition seemed daunting at the beginning of the year due to the lack of price stability caused by years of inflation in the country. However, the fair has once again proven its resilience amidst the fluctuations of the Argentine economy. Larisa Andreani, the president of Fundación arteba, acknowledged, 'We did magic' to make this year’s event happen.

The relevance of arteba for the local art market and scene is undeniable. The fair not only drives sales and encourages collecting but also contributes to the growth and sophistication of the Argentine art market. This year, a new trend emerged: the practice of acquiring specific works in advance of the fair, mirroring a common approach at international art fairs. Prominent galleries such as Nora Fisch, Ruth Benzacar, Rolf Art, and Isla Flotante have reported sales even before the official start of the event.

This positive momentum was maintained during the opening day for special guests, where renowned collectors and institutions made significant acquisitions. Among the international museums that have incorporated works by Argentinian artists into their collections are the Guggenheim from New York, the Reina Sofía National Museum from Madrid, and the Centro de Arte 2 de Mayo, also from the Spanish capital. According to the organizers, fourteen museums will participate in this year's acquisition program.

The commitment of national institutions to the fair has been noteworthy, exemplified by the Museum of Latin American Art of Buenos Aires (MALBA), which added five new works to its collection. Funded by its Acquisitions Committee, these selected historical and contemporary pieces strengthen the museum's narrative on Latin American art. Similarly, the National Museum of Fine Arts has acquired three pieces by the renowned artist Rómulo Macció and an installation by Graciela Sacco, while the Museum of Contemporary Art of Salta has incorporated four other pieces by young and mid-career artists into its collection.

In addition to traditional collecting, a new trend is emerging in the Argentinian art market: a growing group of young collectors, primarily professionals under the age of thirty-five. This development indicates a promising future for the local art scene, with renewed interest in contemporary art and the expansion of the collector base to include new, younger players. In Argentina, funding from private companies also plays a vital role in the development of the local art scene. Elena Tavelli, Artistic Director of the Santander Foundation in Argentina, which serves as the official sponsor of arteba, emphasizes: “Being the main sponsor of the local art fair is a way to support the market's development and reach new audiences”. Tavelli emphasizes the abundance of talent and creativity in Argentina, noting the presence of numerous artists and cultural spaces with their own dedicated audiences. However, she identifies a critical gap: “What is often lacking is financing and money to generate large-scale projects and to achieve that necessary leap in quality”. In this context, Tavelli highlights the role of the private sector: “This is where private entities play an important role, acting as a guiding force and encouraging other companies to get involved”. In markets like Argentina, this perspective underscores the importance not only of immediate financial support through the purchase of artworks but also of fostering a more robust and sustainable artistic ecosystem in the long term.

In terms of the artistic offering, the exhibition pavilions of the Main Section bring together established galleries known for their strong reputations. This space features works by prominent Argentine artists, blending modern and contemporary art with pieces by mid-career artists. Among the standout works are a rarely seen collage-painting by Antonio Berni, priced at half a million dollars, and a nearly two-meter painting from 1986 by Guillermo Kuitca, listed at three hundred thousand dollars. While, the “Utopia” section showcases young and experimental projects, reflecting emerging movements within the federal art scene, with a strong presence of galleries from across the interior of the country. Although this edition features less international participation, the fair presents a diverse array of offerings, including icons of Argentine art, painting, textiles, photography, and even a performance series. It provides an essential journey through the Argentine art landscape, from classic to emerging voices.

*Cover photograph: work by Argentine artist Mariana De Matteis at the Diego Obligado gallery.