Function Magazine

Latin American art is a collection of work by South and Central America, Mexico, Caribbean and those who live in other parts of the world with an origin of Latin America.

Diego Rivera held a show at the Museum of Modern Art in November 2011. Auctions at prestigious auction houses like Sotheby’s, Christie’s and Phillips de Pury indicate an increased awareness and interest in Latin American art.

Christie’s handled $43 million worth of Latin American pieces in 2011. That is four times more than the sales of 2003. 23 Latin American artists were highlighted during the two-day Christie’s auction in November 2011.

Interest in Latin American art is increasing but there is long way to go. A silkscreen and stainless steel “Balloon Monkey Wall Relief” by Jeff Koons sold for $1.2 million. Compare this to Diego Rivera’s “Retrato de Julieta” which sold for $362,500 about the same time period.

As a reference point, LACMA, the Los Angeles Museum of Modern Art, regularly add to its collection of Latin Art.

Latin American pieces are experiencing a rise in prices. There may be opportunities for art lovers throughout the world to pick up excellent pieces at below market prices for their collection.