The Periphery Is Beautiful: The Rise of the Portuguese Contemporary Art Market in the 21st Century

Abstract

The aim of this article is to characterise the rise of the Portuguese contemporary art market since the beginning of the 21st century, within the broader context of the global contemporary art market. Against a theoretical backdrop of the globalisation of markets for contemporary art and the concept of the periphery, I will analyse Lisbon’s art scene as a local phenomenon that is looking for an international recognition. In doing so, I am focusing on two working hypotheses. The first relates to the efforts made by the gallery sector to raise the international profile of its artists, giving them sought-after widespread recognition, which encompasses a historical perspective on the situation and a prominent role for the younger generation of gallerists. The second intends to observe the role played by private collectors and their contributions towards boosting the art scene, assembling their contemporary art collections and making them available to the public. I conclude that this has led to an upsurge in the contemporary art market in connection with the growing number of validating structures, museums, and art centres, due mainly to the fact that the shortcomings of the public sector are being made up for by private initiatives.

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“…According to data, the main buyer's type (Figure 5) is the private collector (with 44 answers in 2019 and 2020). This category is followed by the private institutions, art market professionals (dealers), local museums, national museums and international museums, although with a low number, reinforcing the idea that the art markets are mostly dependent on private hands (Duarte 2020).…”

“…Data shows that the Portuguese gallery tissue is experienced, Figure 1 13 , with a significant 56.6% of them running the business for more than 16 years, and 26.1% having activity for more than 25 years. At the same time, data shows a relevant percentage of 26.1% of galleries younger than 5 years, meaning that the tissue gallery is growing and refreshing the art scene, particularly in Lisbon, with new projects and challenging perspectives (Duarte 2020). Concerning the gallery space, 50% has its own space.…”

“…The gallerist found the art market in good shape as he reported relevant sales 20 . The reopening of large-scale events brings to discussion changes predicted by scholars and critics concerning the scale of the art fairs, its heavy calendar and their high costs, and probably will come from inside of the art system the need to boost the scaled-down boutique art fairs Duarte 2020).…”

“…Conferences, projects, exhibitions, art fairs and auctions in-presence turned into online. Services and institutions closed, schools, universities, companies, museums, libraries, galleries and alternative art spaces were also the contemporary art collectors (Duarte 2020). Afonso and Fernandes (2019) present the Portuguese art market's main features, underlining its local scope, or domestic dimension, in the frame of the history and of the trends of the art markets globally.…”