ARCO

Now, I read that at Arco Madrid, for example, some years you have about 20% of the galleries there are from South America.

Now, in your opinion, is this because it's a lot of Spanish people buying Latin American art? What's going on there?

I think one of the reasons is that every year ARCO selects one country to highlight.

And these countries are most of the time from Latin America.

For example, I know the case of Peru that was a few years ago.

And when I was in Lima two years ago attending an art fair there called Pinta Lima, All the collectors say how having been at ARCO has been great for the artists, the fair, the contemporary artistic scene in Peru.

So it's really like a big showcase.

And yes, there are Latin American collectors living in Madrid or having second houses in Madrid that they buy.