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Interview with Maria Bonta de la Pezuela, who oversees seven Latin American offices for Sotheby’s, including those in Mexico City, Buenos Aires and Rio de Janeiro.

What has changed the most about the Latin American market since you began working in the field?

For one you have to understand that even though we talk about the Latin American market as a group, the countries they include are totally unique. Mexican art is completely different from Argentine art, which is totally different from Brazilian art, etc. The great thing now is that collectors are buying in much more diverse ways. When Sotheby’s had its first auction of Latin American art in 1979, most of the pieces were Mexican and most of the buyers from Mexico. That’s changed completely and people are buying with a more open mind. And why not? If you’re interested in [Mexican artist] Diego Riviera, why not look at [Cuban artist] Wifredo Lam? One sensibility leads to the other quite naturally.

What is the most important advice one can give to a collector?

You have to find out what moves and motivates you. A lot of people approach me about art as an investment, but I don’t like talking about it that way, and frankly I don’t recommend thinking about it in that way, because it’s really not a safe investment. There’s no guarantee that things will go up or go down.

Is there a particularly memorable auction you recall?

There was one piece whose story I love because the process of the bidder was so interesting. It was a work by Joaquín Torres García, one of the most important South American artists ever and a founder of the Constructivist School of the South. Generally people like his vibrant oil paintings and this piece, entitled “Tradicion del Hombre Abstracto” is done in pencil and on paper mounted on wood. It’s not a sexy painting and it’s not the kind of work where someone will walk into your home and say, Oh you have a Torres García. But there was a young collector who loved it. He was struggling with the fact that it was not a recognizable piece and that it had a hefty price tag, estimated between $275,000 and $325,000 [it sold for $296,000]. But it moved him and he raised his hand and he bid and he got it. And I will never forget that moment. I felt like my child had struck a home run at Little League. He made a commitment with his heart and went for it. I think it’s the best purchase he’s ever made. It’s a museum-quality work of art and extremely personal at the same time.

Who are some Latin American artists that are particularly in demand at auction?

There are the sacred cows of the field, like Frida Kahlo and Diego Riviera, Wifredo Lam, [Colombian] Fernando Botero, [Chilean] Roberto Matta and Torres García. These are artists that repeatedly bring millions of dollars and when you have a chance of selling an important work by any of them, it’s always pretty exciting.

How can a cultural traveler get a feel for a particular art scene in a city he/she is not familiar with?

Go on the Web sites of fairs that happen in particular city and look at the galleries that participate. I personally like those that are off-the-beaten path and one way of finding their addresses is to browse the fair sites. You can also email the curator of the museums in that destination or you can call the local Sotheby’s office. People always assume you can only call us if you have a big check ready, but that is not the case. We’re always happy to steer art lovers in the right direction.

Also, consider timing a trip to coincide with a biennale or art fair, especially in Latin America where you would need to cover many different countries to get a good sense of the scene. Besides drawing the best galleries from all over, a biennale or fair will also be the time when local galleries hold their important shows and museums put on amazing exhibits. It’s the moment to see a lot of art in a single city and there’s an energy unlike any other time of the year. Plus, you’re part of a group of international collectors so you’re likely to meet other like-minded travelers.

What are some art fairs you would consider underrated?

The São Paulo Biennale (www.bienalsaopaulo.globo.com). Everyone in my field knows it but it has not really gotten the exposure it deserves. It’s been seminal in the development and the careers of so many artists and it has always presented challenging and cutting-edge work. [Editor’s Note: this year the Biennale runs from November 11 through December 16.]

Also in São Paulo is SP Arte (www.sp-arte.com), a fair that started last year. At this point every city has an art fair and I don’t know that all of them are worthwhile, but I was very impressed by SP Arte; they attracted some good challenging international galleries.

What are some lesser-known museums you love?

The Museo Franz Mayer (www.franzmayer.org.mx) in Mexico City, which was founded with the collection of a private German collector and has grown into one of the finest museums of colonial art that I know. I also love the Daros Foundation (www.daros.ch) in Zürich, which made an intelligent choice to focus part of the collection on Latin American Art and in so doing has energized the field of contemporary art from this region. Without fail, the shows they organize are of significant quality. And then there’s the Museo Xul Solar (www.xulsolar.org.ar), a gem of a museum in Buenos Aires that’s housed in the home of Xul Solar, a brilliant artist who I believe is underrated and undervalued today. In terms of larger or more well-known cultural institutions in Mexico City, I think the Jumex Collection (Via Morelos 272, Km. 19.5 Carretera Mexico-Pachuca Ectapec Ed; 52-55-5699-1961) is incredible. And talk about off-the-beaten path: it’s definitely hard to get to but highly worthwhile as it’s played a huge role in what’s happening in contemporary art in Mexico.

What about Buenos Aires?

A healthy art scene doesn’t come out of a vacuum and what’s happened in Argentina is a good example for that. The Arte BA fair (www.arteba.org) existed for a long time, but during the last three years it was headed by Mauro Herlitzka, a long-time collector and supporter of the arts himself, who added a lot of energy to the fair. The Museo de Arte Latinoamericano de Buenos Aires, called Malba (www.malba.org.ar), which opened in 2001, brought interesting Latin American art into the public realm. Then you also have a foundation like Fundación Proa (www.proa.org) and slowly the city becomes a fertile ground for art lovers, which brings collectors who support young, cutting-edge galleries. All these forces work together to create an exciting art scene.

What are some of your favorite cultural events that are not fine art-related?

Taking a tour of Xochimilco in Mexico City by candlelight and the Miami Light Project (www.miamilightproject.com), a cultural organization that sponsors live performances, from dance to performance art.

What do you look forward to in the Fall and beyond?

The Jorge Pardo show at the Museum of Contemporary Art (www.mocanomi.org) in Miami in December, timed to coincide with Art Basel Miami Beach; the opening of the Daros Foundation in Rio de Janeiro in a newly commissioned space; the Wifredo Lam retrospective at the Miami Art Museum (www.miamiartmuseum.org) in 2008 and, of course, Sotheby’s Latin American Art auction, which will take place November 20-21. We have some amazing pieces that are going on the block, and it will be an exciting auction to attend.

_For information about the upcoming Latin American Art auction as well as Sotheby’s complete autumn auction schedule, go to: www.sothebys.com.