It was almost eight years of blind flying. Without a study on its performance since 2018, the Brazilian art market struggled to establish agendas, define demands, and organize itself with data as the foundation for its arguments. Throughout 2024, for example, it focused its efforts on the potential impacts of the Tax Reform. It ended the year with a victory: the inclusion of the sector in a special tax regime with reduced rates.

This success is largely due to the work of the Coletivo 215 alongside sectors of the Ministry of Finance and agents from the Executive and Legislative branches. The group brought together the two largest art fairs in the country, SP-Arte and ArtRio, and organizations representing both the primary and secondary sectors of the art market: Abact (Brazilian Association of Contemporary Art) and Agab (Association of Art Galleries of Brazil).

Another successful agenda of the Coletivo was the completion and release of the seventh edition of the sectoral research, conducted by Abact in partnership with the Brazilian Export and Investment Promotion Agency (ApexBrasil), under the Latitude sectoral project. In absolute terms, the results were positive: the market generated R$ 2.9 billion in 2023, a 21% increase compared to the previous year.

The qualitative results

In its qualitative analysis, the 7th Sectoral Research on the Art Market in Brazil 2024 confirmed artistic trends related to policies of diversity, inclusion, and reparation, which had already been central to curations and selections of artists in solo and group exhibitions, both within and outside of Brazil. In this regard, the study pointed out "a general appreciation for identity-based agendas and multicultural discourses," with "a special focus on Afro-descendant, indigenous, women, and LGBTQIA+ artists."

From a formal perspective, there was more interest "around figurative art and the intersection of art, science, and technology, with an emphasis on the influence of artificial intelligence." Finally, themes related to sustainability and ecology attracted the market's attention. The study concludes: "The growing appreciation for environmental themes reflects the urgency of global ecological issues and positions Brazil, with its unique biodiversity and essential role in environmental preservation, as a territory of unique relevance to explore these narratives."

The market, according to the gallerists

Having been in the market since 1997, Thiago Gomide, from Gomide&Co, believes that Brazilian galleries have been undergoing continuous and stable evolution – despite the setback during the pandemic – with more exhibition spaces opening, the professionalization of businesses, but tax issues still pose a barrier for a Brazilian gallery to represent artists from outside Brazil, making the market more domestic and "less globalized."

Looking back, it is also worth highlighting that, since 2023, we have witnessed an intense national and international movement of Brazilian galleries. In May of that year, the Cerrado gallery opened in Goiânia, a bet on the potential market of the Midwest. In January 2024, the São Paulo-based Galatea followed suit, opening a branch in Salvador (BA). Co-founder Antonia Bergamin says that one of the driving factors behind the expansion was the representation of José Adário dos Santos, a Bahian artist who had inaugurated the São Paulo space in November 2022 with a solo show.

"It was a love for the city, for the people," says Antonia. Beyond the subjective drive, Galatea had the desire – reflected in its program – to seek names outside the traditional art hubs. In this sense, Bahia represents a treasure trove, especially regarding the Afro-diasporic artistic production of the so-called "Black Rome."

Without a study on its performance since 2018, the Brazilian art market has struggled to outline agendas

The Bahian capital does not exactly have a heated internal market—so much so that the initial plan was to open a sort of pop-up space in Salvador during the summer, taking advantage of the large influx of tourists. However, it soon became clear that the city also serves as a strategic point in the Northeast for hosting and promoting the circulation of talents from other states in the region. This is evidenced, for example, by recurring institutionally driven initiatives, such as artist residencies, carried out by Pivô Salvador—an initiative of Pivô - Art and Research, based in São Paulo—active in the Bahian capital since mid-2023.

“We don’t see this space in Salvador as a traditional gallery, but rather as a project space, dedicated to experimentation and partnerships, like the group exhibition we are currently organizing with Fortes D’Aloia & Gabriel,” she emphasizes. “And in July, we will host a new collaboration, this time with Luciana Brito, featuring an exhibition by Regina Silveira.”

The Rio-based gallery Athena also sought to expand its reach by opening a temporary exhibition space in the Jardins neighborhood in November last year, in partnership with the MOS developer. With the success of the initiative, which is expected to run until early June, Athena’s partners, brothers Eduardo and Filipe Masini, are now looking for a permanent location in São Paulo.

In this move toward national expansion, Mitre Galeria, founded in 2023, has just opened its São Paulo branch in the Jardins neighborhood. Representing artists with rapidly rising careers, such as Luana Vitra, Aline Motta, and Davi de Jesus do Nascimento, Rodrigo Mitre arrives in São Paulo with a group exhibition featuring six of his represented artists.

Since the first edition of SP-Arte, Mitre has attended the fair as both a seller and producer at Manoel Macedo Arte, a gallery based in Minas Gerais. He also participated in events at Clube Hebraica in the early 2000s. The gallerist states that São Paulo has played a significant role in his personal development and in shaping his professional path in the arts, due to the city’s museums and cultural institutions. It has also been key to his professional growth:

"I have practically followed this entire recent trajectory of the professionalization of the national art market, and São Paulo plays a central role in this context," he says. "The gallery’s program aligns very well with the local clientele, and we have a close relationship with collectors here. At one point, nearly 50% of my revenue came from the city."

Rodrigo Mitre also emphasizes that São Paulo has expanded his access to international collectors. It is no coincidence that he is preparing for his third participation in Frieze New York, betting on the North American market—a strategy that will also include his presence at Art Chicago.

By the way, promoting the internationalization of the market was also among the goals of the sectoral research, always keeping in mind how the rising value of the dollar in recent years has been impacting the sector (stand prices, logistics, transportation, etc.).

Thiago Gomide—who attributes “practically 80% of his revenue to export sales”—recalls that in 2024, he had booths at six fairs outside Brazil, while for 2025, participation in eight international fairs is planned, with Frieze Los Angeles and ARCO Madrid among the new additions, not to mention his return to the New York edition of the Dutch fair TEFAF.

Likewise, Rio-based gallery Portas Vilaseca made its debut at Art Basel Miami Beach last year, although it had already been present in the city for seven years at the Untitled fair. The gallery has also exhibited in Bogotá, Mexico City, and London, among other markets.

According to Thiago Gomide, Brazilian galleries have been undergoing a continuous and stable evolution

The 'Venice Effect'

The 60th Venice Biennale, curated by Adriano Pedrosa, generated high expectations for the Brazilian art market throughout 2024. And for good reason: in Stranieri Ovunque – Foreigners Everywhere, Pedrosa—the first Latin American to assume the top curatorial post at the renowned Italian exhibition—brought together a large number of Brazilian artists, especially Indigenous ones, such as the MAHKU collective, which created the mural covering the façade of the Central Pavilion at the Giardini.

Beyond that, among the 332 artists selected, Pedrosa included a significant number of historical figures, opening highly positive prospects for the secondary market, with works by Tarsila do Amaral, Judith Lauand, and Rubem Valentim on display. Antonio Almeida, partner at Almeida & Dale, notes that during the Biennale, he was contacted by several clients as a direct result of the notable presence of Brazilian artists at the event.

From a market perspective, however, Almeida believes the results will come gradually. “These are fruits we will harvest over the next three, four, or five years,” he says. “And the first stop for these potential collectors after the Biennale will naturally be SP-Arte this year. We expect to see a very positive impact at the next edition.”

For Antonia Bergamin, from Galatea, the Biennale brought increased visibility and renewed attention to Brazilian artistic production. She recalls that a similar wave of interest had emerged some years ago, particularly around the Neoconcrete movement, with major exhibitions at MoMA and the Guggenheim in New York during the 2010s.

According to her, the pre-pandemic years saw a slowdown in that momentum, but the Biennale has once again projected Brazilian artists—both historical and contemporary—onto the international stage.

*The journalist Eduardo Simões left us in 2025.