The Museum of Latin American Art in Buenos Aires (Malba) has acquired a collection of 1,233 works from the Swiss Daros collection for an estimated US$35 million to US$45 million. The purchase, announced this week, includes masterpieces by Brazilian artists such as Hélio Oiticica and Lygia Clark, at a significant discount from the market value of up to US$90 million.
The Malba, founded by Argentine collector Eduardo Costantini, acquired the Daros collection, which belonged to the Swiss Ruth Schmidheiny, who died in 2019. The works had been stored in Zurich since the closure of Casa Daros in Rio de Janeiro ten years ago, a space that displayed part of the collection in a mansion in the Botafogo neighborhood.
Costantini, known for owning the iconic "Abaporu" by Tarsila do Amaral and works by masters such as Diego Rivera, Frida Kahlo, Joaquín Torres-García, and Leonora Carrington, benefited from a discount of up to 50% in the deal. Market experts, including appraisers hired by institutions like Itaú bank and the Museum of Modern Art in São Paulo, estimate the total value of the pieces could reach US$90 million, or about R$500 million.
The transaction represents the largest art deal in Latin America in a single operation, surpassing historical acquisitions like those of the Masp in São Paulo, which concentrated European works after World War II. The Malba's artistic director, Brazilian Rodrigo Moura, oversees the integration of the pieces, which strengthen the museum's focus on Latin American art.
Among the highlighted works are the installation "Missão/Missões (Como Construir Catedrais)" by Cildo Meireles, valued at US$3 million to US$4 million; a "Bólide" and a "Relevo Espacial" by Hélio Oiticica, each for US$2 million; an "Objeto Gráfico" by Mira Schendel for US$2.5 million; and a "Bicho" by Lygia Clark, between US$1.5 million and US$2 million. Other artists include Antonio Dias.
The move to Buenos Aires reflects challenges in the Brazilian market, where high taxes could double the final cost, making the acquisition unfeasible. The Malba did not confirm the exact value, but sources close to the negotiations corroborate the estimates, highlighting the cultural impact of gathering these works in a reference center for regional art.
