Latin American Art Rings Up Big Numbers : Auctions: New York sales set records for 20 artists. Competition and rising prices suggest that the Latin American art market is growing despite the recession.

New York’s big fall auctions of Latin American art this week rang up $21.7 million in sales and set records for 20 artists. About 30% of the 444 works put on the block were not sold, but competition and rising prices suggest that the Latin American art market is growing despite the recession.

The auction record for Latin American art was shattered twice in 24 hours, upsetting the unprecedented price of $1.65 million paid in May for Frida Kahlo’s “Self Portrait With Loose Hair.” “Valle de Mexico,” a 1888 landscape by Jose Maria Velasco, was sold for $2.42 million on Monday night at Sotheby’s to a Mexican dealer bidding for an unidentified private collector. The following night, Christie’s sold “Flower Seller,” a 1942 painting by Diego Rivera, for $2.97 million to an anonymous client.

“We are thrilled by the reception this beautiful work received. It is a highlight of the 10 years during which we have been dedicated to this field,” Lisa Palmer, head of Christie’s Latin American art department, said after the Rivera sale.

Sotheby’s, which closed its Latin American department in January and recently reinstated it under August Uribe’s direction, launched this week’s auctions on Monday with a $10.6-million sale of 77 items and followed Tuesday afternoon with a $1.3-million auction of 134 lower-priced pieces. Among the artists whose works commanded record prices were Fernando Botero ($1 million for “Dejeuner sur l’Herbe,” a painting that spoofs a famous work by Edouard Manet) and Rufino Tamayo ($962,500 for “Portrait of Olga,” a 1941 painting of the late artist’s wife). Other Tamayos that brought high prices include a 1935 painting, “Worker Rhythm” ($742,500) and a 1968 oil, “Couple” ($528,000).

Christie’s sold $9.8 million worth of Latin American art--including the record-setting Rivera--in a 233-item auction that started on Tuesday night and continued on Wednesday. Among top lots were paintings by Remedios Varo ($605,000 for “Microcosmos”), Botero ($440,000 for “Los Amantes”) and Juan O’Gorman ($330,000 for “Los Mitos”).