The third and fourth recommendations for collectors looking for good investments in art under $5,000:
Eduardo Sarabia, Sierra de los Milagros, 2003 sold for $2,500
3) Latin American Art: "This area is getting a boost from museums across the country that are eager to court a growing Hispanic population. Often, strong museum interest in a particular kind of art, even though it's generally for work at higher prices, is a leading indicator of how the cheaper stuff will do over time." No artists were named in this section, but they narrow the field by stating that the most promising Latin American artists are from Columbia and Brazil. They recommend that in this category you buy work at galleries (most specializing in this area are found in Miami and Los Angeles) rather than going to the auction houses, for the auctions tend to carry "very commercial bad art".
I know next to nothing about this area, so I have nothing to add. Sorry. Through a Google search I learned that the self-proclaimed "leading magazine on Latin American and Hispanic art" is ArtNexus which seems like a good place to gather information if you are new to this market. To help further, here are a few tips directly from the article:
Rarity is key. If an artist spends 30 years churning out similar-looking works, the value goes nowhere fast. Durability can also be an issue. Lots of artists in this field work in cloth, platic flowers and wood, and if an artwork is too fragile, it may be expensive to maintain (and might be hard to resell). And ask about pedigree: Artists, even young ones, who've won awards at art events such as the respected Sao Paulo Biennial are likely to stick around.
4) Small Antiquities: Since this blog is about contemporary art, I'm not going to write about this last recommendation. If that makes you mad and you would like to see what they have to say, please send me an email and I will send you a copy of the article.
Also, I encourage any of you who have something to add to this discussion - tips, opinions, favorite artists, or anything about 20th Century Prints, Color Photographs, and especially Latin American Art - to please leave a comment. Thanks.