A more robust market, more focused on the local context and operating more strongly in the digital environment. These are some of the main findings of the 7th edition of the Sector Survey on the Visual Arts Market in Brazil, conducted by the Brazilian Association of Contemporary Art (ABACT) with the support of Apex Brasil, the government export-promotion agency. The study included 45 professionals and 76 galleries from all regions of the country, updating the previous survey, carried out in 2018.
Revenue up 21%, still below 2019
Conducted in 2024, the survey presents data for the year 2023, identifying 21% growth in the sector's turnover, with revenue of approximately R$ 2.9 billion. Despite the advance, the result still stands 1.5% below the business volume recorded in 2019, before the Covid-19 pandemic.
The domestic market dominates, but exports are growing
Although it accounts for less than 1% of the global art market's turnover, the Brazilian sector shows particular characteristics. Domestic consumption predominates, with 77% of sales made to local buyers. However, exports expanded, with 24% growth in acquisitions made by foreigners. The United States, the United Kingdom, Switzerland, Portugal and Hong Kong are the main destinations for the works sold. Together, these countries concentrate around 90% of international transactions.
Fairs and the profile of the galleries
The survey also shows that galleries invest around 25% of their resources in participating in national and international events, with an equivalent return: national art fairs accounted for 25% of the average turnover of the galleries surveyed. Furthermore, only 3% of them were absent from fairs held in Brazil and only 29% did not take part in international fairs.
In its X-ray of the market, the survey reveals that each gallery represents, on average, 27 artists, with the top three accounting for 51% of sales. Brazilian buyers favor works priced up to R$ 50,000, which make up 59% of revenues, while only 9% of sales involve works priced above R$ 300,000.
Online sales jump from 8% to 20%
The Sector Survey also highlighted the rise of online sales as a market trend. In 2024, business generated through digital channels reached 20% of the sector's revenues, whereas in 2018 they accounted for only 8% of turnover.
The full survey is available at this link, with 82 pages. Besides more in-depth analyses, it also presents recommendations and trends for the development of a more sustainable market.
