In a preliminary assessment of the Lisbon international contemporary art fair, Frederick Lehmann, the new president of Exhibitio, stated in an interview with the Lusa news agency that the main concern expressed by members is not related to the fair's widely recognised relevance, but to the need to "find structural solutions that ensure its long-term viability."

ARCOlisboa concluded its 9th edition on Sunday with 15,000 visitors at the Cordoaria Nacional. Over four days, 83 galleries from 17 countries gathered. This included 30 Portuguese and 53 foreign galleries. The event celebrated a decade, having paused only during the COVID-19 pandemic.

Lehmann noted that most members believe participation costs are unsustainably high and stressed that ARCOlisboa and all international art fairs require a reimagined, innovative model to secure their future, one that must include new forms of support.

Regarding the assessment of this year's edition and previous editions, the president of Exhibitio considered that ARCOlisboa has consolidated itself over the last decade as a fundamental event for the contemporary art market in Portugal and for the city's international projection.

Frederick Lehmann said that in May the association surveyed its 30 members, marking the fair's tenth anniversary in Lisbon, to assess the financial, reputational, and institutional impact of participating in ARCOlisboa. The results showed unanimous agreement on the event's importance, organised by IFEMA and the Lisbon City Council.

“The results are quite consensual. Galleries consider the fair very important, and around 35% say it is crucial for the long-term sustainability of their activity,” he indicated, adding that 85% of Exhibitio members were present at this year's edition.

According to the survey, most members report that around 20% of their annual revenue is attributable to participation in the fair, modelled on ARCOmadrid but with an operational model and concept adapted to the Portuguese scale.

However, the members' assessment concludes, on the other hand, that the generalised increase in gallery costs at international fairs after the pandemic has “profoundly altered the economic balance for participation.”

“The main costs are the high price per square meter for exhibitors, the production of the works, and transportation. Costs have increased very significantly after COVID, and this is the case in most fairs,” he observed.

The association leader acknowledges that this year's edition represented an improvement for many galleries, but attributes this result primarily to the reduction of VAT on art transactions from 23% to 6%, which came into effect in January of this year.

“What most members conveyed to us was that this year they finally managed to reach a balance between costs and sales,” he stated, underlining the importance of that tax change to “correct a situation that put Portugal at a disadvantage compared to other European markets,” such as France and Germany.

Lehmann recalled that the change in the tax regime that occurred in 2024 had a strong negative impact on the sector: “The change from 11.5% to 23% was a major blow,” he told Lusa, arguing that maintaining the current reduced rate is essential for market stability.

“Any change to VAT greatly weakens galleries and also artists, whose livelihoods depend on the sale of their works. We work together, and galleries invest for years in the production, dissemination, and internationalisation of the artists they collaborate with,” stressed the head of the association that promoted a public protest by gallery owners at the 2025 edition of ARCOlisboa.

Although he believes the tax reduction has alleviated immediate financial pressure, Frederick Lehmann understands that the discussion about the sustainability of galleries' participation in international art fairs is far from resolved.

“The current model is not sustainable. That's a fact. Now it's necessary to start a dialogue with the organisation, public entities, and partners to understand what can be done to keep this ecosystem alive and dynamic,” he stated.

Among the proposals the association intends to discuss with public entities, and organisers are mechanisms for direct support of internationalisation, similar to those in other economic sectors such as textiles, wine, or footwear.

He also advocates for greater participation from public and private entities in the creation of permanent support instruments: “There could be an acquisitions fund for the fair or a support model for galleries through the association. There are several possible solutions that deserve to be studied,” he suggested.

Another demand from the gallery owners concerns strengthening the international dimension of ARCOlisboa, namely through the presence of more foreign collectors and institutional representatives: “We need greater international exposure, more links with museums and more institutional interlocutors who physically come to Lisbon to see the artists' work,” he argued.

The president of Exhibitio added that the association will now systematise the opinions gathered from its members and formally present them to the fair's organisers.