External Shocks in the Art Markets: How Did the Portuguese, the Spanish and the Brazilian Art Markets React to COVID-19 Global Pandemic? Data Analysis and Strategies to Overcome the Crisis

Duarte, Adelaide; Fialho, Ana Letícia; Pérez-Ibáñez, Marta

doi:10.3390/arts10030047

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External Shocks in the Art Markets: How Did the Portuguese, the Spanish and the Brazilian Art Markets React to COVID-19 Global Pandemic? Data Analysis and Strategies to Overcome the Crisis

Adelaide Duarte

^1,*

Ana Letícia Fialho

² and

Marta Pérez-Ibáñez

Institute of Art History, School of Social Sciences and Humanities, Universidade NOVA de Lisboa, 1099-085 Lisbon, Portugal

Office of the President, Coordination of Museums’ Affaires, University of São Paulo, São Paulo 05508-220, Brazil

Independent Researcher, 28028 Madrid, Spain

Author to whom correspondence should be addressed.

Academic Editor: Elena Sidorova

Arts 2021, 10(3), 47; https://doi.org/10.3390/arts10030047

Received: 31 May 2021 / Revised: 30 June 2021 / Accepted: 6 July 2021 / Published: 15 July 2021

(This article belongs to the Special Issue Global Art Market in the Aftermath of Covid-19)

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Abstract

The spread of the COVID-19 pandemic worldwide, and the restrictions imposed by the social distance and the enforced confinement, are having an impact on the art markets globally. The aim of this article is to evaluate the impact of an external shock in the primary art market, using three countries as a case study: Portugal, Spain, and Brazil. These geographies have in common being at the margins in the art market’s main art hubs. It is intended to analyze how agents are responding to the new context, according to the data gathered within the gallery sector. The methods applied in the research are a combination of surveys carried out by the authors, field-based observation, along with an academic literature review, complemented by international and national reports analysis. The study’s main findings allow us to characterize the art market as a very resilient sector that energetically responded to the crisis, able to adapt and overcome challenges imposed by the new pandemic situation. Contemporary art galleries expanded digital activities, kept participating in art fairs hybrid models, continued to focus on internationalization, and pointed to the strengthening of public policies towards the sector and partnerships as key strategies to overcome the crisis. View Full-Text

Keywords: external shocks in the art markets; primary art market; gallerists; artists; COVID-19; Portugal; Spain; Brazil

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Duarte, A.; Fialho, A.L.; Pérez-Ibáñez, M. External Shocks in the Art Markets: How Did the Portuguese, the Spanish and the Brazilian Art Markets React to COVID-19 Global Pandemic? Data Analysis and Strategies to Overcome the Crisis. Arts 2021, 10, 47. https://doi.org/10.3390/arts10030047

AMA Style

Duarte A, Fialho AL, Pérez-Ibáñez M. External Shocks in the Art Markets: How Did the Portuguese, the Spanish and the Brazilian Art Markets React to COVID-19 Global Pandemic? Data Analysis and Strategies to Overcome the Crisis. Arts. 2021; 10(3):47. https://doi.org/10.3390/arts10030047

Chicago/Turabian Style

Duarte, Adelaide, Ana L. Fialho, and Marta Pérez-Ibáñez. 2021. "External Shocks in the Art Markets: How Did the Portuguese, the Spanish and the Brazilian Art Markets React to COVID-19 Global Pandemic? Data Analysis and Strategies to Overcome the Crisis" Arts 10, no. 3: 47. https://doi.org/10.3390/arts10030047

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Author Biographies

Ana Letícia Fialho

Ph.D. in Arts and Language Sciences (2006) from the School of Advanced Studies in Social Sciences of Paris (EHESS), with research on the internationalization of contemporary Brazilian art. Master in Cultural Management (2000) by the University of Lyon II, with research on the relations between Brazil and France in the field of visual arts. Graduated in Law from the Federal University of Rio Grande do Sul (1997). Visiting Professor at UNIFESP (Universidade Federal de São Paulo). Formerly the Director of Productive Strategy at the Office of Cultural Economy/Brazilian Ministry of Culture (2016-2018); executive manager at Cinema do Brazil (2007–2010 and 2015–2016); Head Researcher and Commerce Intelligence Consultant at Latitude - Platform for Brazilian Art Galleries Abroad (APEX-Brasil) (2011-2014); executive curator at Forum Permanente, a network-based project that functions as a multi-platform for critical discussion on contemporary art (2007–2011); researcher and editor assistant for the exhibition and the book Drifs and Derivations—experiences, journeys and morphologies, organized by Lisette Lagnado for the Museo Nacional Reina Sofia, Madrid (2010).

Marta Pérez-Ibáñez

Ph.D. in History and Arts, University of Granada, Spain. Master’s Degree in Art History, Universidad Autónoma in Madrid, Spain. Specialized in the contemporary art market and arts and culture management. Currently lectures on Contemporary Art, Art Market Management and Cultural Management in several universities and institutions, in and out of Spain. The president of the Institute of Contemporary Art of Spain IAC and a member of The International Art Market Studies Association TIAMSA. A member of the research clusters Art market and collecting in the European Southern countries and Brazil (AMC_ESCB), TIAMSA’s subcommittee and other research groups. Section Editor specialized in the Spanish and Portuguese art markets at De Gruyter Publishing, Berlin (Germany). Author of The professional and economic context of the artist in Spain and Resilience to face new paradigms in the art market. Co-author of the research studies: The Economic Activity of Artists in Spain and Gender Inequality in the Spanish Art System.

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External Shocks in the Art Markets: How Did the Portuguese, the Spanish and the Brazilian Art Markets React to COVID-19 Global Pandemic? Data Analysis and Strategies to Overcome the Crisis

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