The second edition of ArtRio runs from 12 -16 September in four warehouses in Rio de Janeiro's Guanabara Bay. It will feature 120 galleries including heavy-hitters David Zwirner, White Cube and Gagosian Gallery, reflecting a growing interest in the world's sixth-largest economy where the ranks of Brazil's high net-worth individuals - those with at least $1 million in financial assets - grew by 6.2% between 2010 and 2011. ArtRio's organisers have also persuaded local authorities to exempt the art sold during the fair from an 18% sales tax to promote sales at the event.
Gagosian is going for broke at the fair with a $130 million selection of 80 pieces by 30 artists including Gursky, Hirst, Koons, Picasso, Serra and Warhol, with prices ranging from $10,000 to $15 million. "The group is bigger than we'd bring to a typical art fair," said Victoria Gelfand-Magalhaes, a New York-based Gagosian director. "We are trying to make a great first impression."
