Art News

Sales at ARCOmadrid Point to the Beginning of a Recovery in the Art Market

MADRID.- ARCOmadrid_ 2010, the International Contemporary Art Fair, closed its doors on 21st February with positive results well above initial forecasts. At a press conference held to take stock of the fair, the Chairman of IFEMA Executive Committee, Luis Eduardo Cortés, stated that “galleries have done better than expected,” and that “Spanish and international collectors have demonstrated their ongoing commitment with art.” Thus, ARCOmadrid would seem to confirm the beginning of a recovery in the art market that had been already detected in major contemporary art auction sales weeks before the fair. Organised by IFEMA, the art fair was officially opened on Thursday 18th February by T.R.H. the Prince and Princess of Asturias. Throughout its five days it registered a total of 148,000 visitors in Halls 6, 8 and 10, a figure lower than previous years due to