Este Arte’s deliberately small scale has helped position the fair as an early bellwether for Latin America’s contemporary art market. Courtesy Este Arte

In the middle of the southern hemisphere’s summer, an old fishing village in Uruguay that is now an exclusive and luxurious seaside resort becomes a magnet for collectors and millionaires from the region, as well as from Europe and the U.S. Este Arte—a boutique-sized contemporary art fair—is the primary draw, punching above its weight class with just a handful of galleries. The typical roster includes galleries from Uruguay, Argentina, Chile and Brazil that have participated in fairs such as Art Basel and Frieze, plus international galleries like Galerie Jocelyn Wolff from Paris that are looking to capitalize on a booming market.

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“This is a contemporary art fair that was created primarily with the intention of bringing the Uruguayan art scene to the forefront, so first we had to create a market that practically did not exist,” Laura Bardier, director of the fair, told Observer. “This year, on the first day, all the galleries recouped the cost of their booths, which are 20 square meters and cost $10,000 each. Some even sold their entire stand and had to rehang their works on the preview day.”

A Uruguayan living in New York, Bardier said the inspiration to create the fair, now in its 12th edition, came after working closely with collector and philanthropist Estrellita Brodsky. She persuaded the Museum of Modern Art in New York to create a department dedicated to Latin American art in the mid-2000s—a move that was later replicated by Tate Modern in London and The Met. With Brodsky in her court, Bardier sought to collaborate in raising the profile and professionalization of her country’s art.

Today, Este Arte is one of the first fairs on the Latin American calendar and kicks off a year of art weeks and fairs that continues........

© Observer