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Article

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

1
Institute of Art History, School of Social Sciences and Humanities, Universidade NOVA de Lisboa, 1099-085 Lisbon, Portugal
2
Office of the President, Coordination of Museums’ Affaires, University of São Paulo, São Paulo 05508-220, Brazil
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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)
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 external shocks in the art markets; primary art market; gallerists; artists; COVID-19; Portugal; Spain; Brazil
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MDPI and ACS Style

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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