Beyond the visible: A comparative analysis of the valuation, commercialization and the market of artworks in Latin America and Europe

Abstract

The art market has evolved from ancient Greece to modern globalization. It emerged in the Middle Ages, transformed in the Renaissance, and expanded to America in the 16th century. This implies artists, critics, merchants, collectors, and more. In the 20th century, globalization and digital platforms transformed the art market; thereby facing challenges such as money laundering and tax evasion. Our comparison reveals differences in the size, economic influence, and attendance of museums between the art markets in Europe and Latin America with the objective of understanding the existence of this contrast between regions.