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Posts Tagged ‘luis caballero’

Wow !! Looks like a big number doesn´t it?!

Unfortunately it is in Colombian pesos . . .however, it is still a tidy sum of around USD $450.000.

Which for Colombia means it was one of the biggest sales ever.

The auction was arranged by Maria Victoria Estrada and Ana Sokoloff and was held to raise funds for Colombian charities such as Conexión Colombia, Colombia Diversa, Fundación Genesis y Fundacion Juan Felipe Escobar.

Ana Sokoloff, who has worked with Christies in New York, and with many galleries in Bogota selected the artists for this auction with an eye on maintaining high quality latin american artworks in the auction. The auction was held in the top Colombian gallery “La Cometa” which is run by Esteban Jaramillo and has held exhibitions in the past of artist such as Luis Luna, Jason Galarraga and Le Parc.

Through this successful auction more than 600,000 Colombians should benefit in someway through the application of the money within the charities that are to benefit from some of the proceeds.

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Once again we are at that time of year when the Latin American Art market starts to get all excited and to see what could be tremendous results at auction for some of their better known (and usually defunct!) artists!

This time around Rufino Tamayo has emerged as the leader for the sale of his works “Trovador” (sold for $7.2 M) and “El Comedor de Sandìas” ($3.625M).

Representing Colombia as ever was Botero and a “new” rising star to the art auction scene Omar Rayo.

Locally Rayo`s work have been getting much more difficult to get a hold of and prices have been strongly rising which is now being well reflected in international auctions. His work “Pijao” from 1970 (100cm x 100cm – acrylic / canvas) was sold for more that its estimate and made USD $18,000.

The Colombian sculptor Eduardo Ramirez Villamizar (RIP) also had works for sale which more than exceeded expectations: an acrylic scupture estimated at $4000 sold for $13,000!!!!

An Ana Mercedes Hoyos bronze also did well and reached its price estimate of $16,000.

All in all, a good night at the auctions for Colombian art.

What is really interesting to note is that in 1979 when Sothebys started selling Latin American art at auction they sold a total of $1M. Now, just 30 years later their total sales tops $50M which does show how the the market has expanded. And I believe will continue to expand when it is considered that the Latin American economies are growing strong despite a blip in the US economy this year. So, start visiting your local galleries and get yourself up to date on the local Latin American art scene if you think it is time to make you money count!

If you would like some tips on where to invest in the colombian art scene you are welcome to write to:

art (at) artcolombia.com

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