ARCO receives 100,000 visits in its 43rd edition

ARCO receives 100,000 visits in its 43rd edition, which ends with a good level of sales
The fair stood out for being equal, with a female participation of 43%
The 43rd edition of ARCO, the Madrid International Contemporary Art Fair, which is one of the main platforms for this type of art, has ended. For five days, it featured proposals from 205 galleries, more than half of which come from outside Spain. This year has not only stood out for its high numbers - more than 100,000 visitors - which are maintained compared to 2023, but it has also become the first joint event with a strong presence of women artists.

Maribel López, director of ARCO, has highlighted this situation in which 43% of the works presented are created by women: “It is a source of pride for this fair and I think it shows; it is breathed and perceived in the stands.” This is a number that far exceeds the 19% female participation that occurred in 2018.

The central proposal, titled The shore, the tide, the current: an oceanic Caribbean, has revolved around the artistic scenes of the territories connected by this sea. Also, the Never the same section. Latin American Art focused on the historical link between ARCOmadrid and the art of Latin America. In this way, it is not surprising that, as the director has indicated, “30 works by 22 artists have been purchased, 17 of them women, and many of them Spanish and Latin American.”

The fair has featured avant-garde artists such as María Blanchard, Aurelia Muñoz (her work is on display at the MOMA), María Pratts and Teresa Solar. In addition, the works of photographers such as Ouka Leele or Colita and geometric artists such as Elena Asins or Elena Bosshard have also been seen; In fact, his legacy had disappeared from the latter, but the gallery owner José de la Mano found it.

As for sales, “the galleries are very happy because the first few days those interested were very active,” he explained. In fact, he considered that this edition had been, in that sense, very exciting. One of ARCO's main objectives is imminently related to starting a negotiation process that closes months later; especially with “pieces that have a larger size and, therefore, a higher price,” she added.

Furthermore, Maribel López did not want to miss the opportunity to take on as her own the gallery owners' request to lower the VAT percentage that is applied to the purchase and sale of works of art (21%). This is a historic request that the sector wanted to highlight this year.

The application of European regulations allows Spain to reduce a series of tax rates, including that on the purchase and sale of works of art. “It is something very important for the fair. The market would grow, without a doubt, but the perception that it is a cultural asset would also change a lot,” she noted.

After five days of demands by the Spanish gallery owners, the Consortium of Contemporary Art Galleries met with Ernest Urtasun, Minister of Culture, who supported the claims. However, the final decision corresponds to the Treasury. “All of us who dedicate ourselves to art know that we are working with a cultural asset of primary necessity. Each of these works represents a legacy for the future,” concluded the director.