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artissima art fair turin 2025 report

Italy's largest contemporary art fair, Artissima, opened its 32nd edition in Turin's Oval Lingotto arena with 176 international galleries from 36 countries. The fair is the first major international art event in Italy since the government slashed VAT on art sales from 22% to 5% in July, a move long sought by galleries and dealers. Early sales included works by João Gabriel, Silvia Capuzzo, and Simon Pasieka, and the fair attracted top curators like Hans Ulrich Obrist and Massimiliano Gioni, as well as prominent Italian collecting families. However, some gallerists noted a lack of American collectors, echoing trends seen at Art Basel in Switzerland.

What Germany’s Art Market Reveals About the Limits of Localism

German art dealers are increasingly pivoting toward regional strategies as the national market faces a period of stagnation. While the broader European Union saw a modest rise in dealer sales, Germany’s market contracted by 4 percent between 2024 and 2025, hampered by high interest rates and a sluggish post-pandemic recovery. In response, major fairs like Art Cologne are launching satellite editions in locations like Mallorca to follow wealthy German collectors on vacation, while Art Düsseldorf prepares for a record-breaking edition despite the economic downturn.

newsmakers artissima director luigi fassi italy vat cuts

Italy slashed VAT on art sales from 22% to 5% in July 2024, the lowest rate in the European Union, after two decades of lobbying by the Apollo Group. The tax cut took effect just before Artissima, Italy's largest contemporary art fair, which saw strong turnout and reported sales increases for many of its 73 Italian galleries, with prices ranging from $2,200 to nearly $20,000. ARTnews interviewed Artissima director Luigi Fassi about the impact of the new rate on the Italian art market and the broader cultural ecosystem.

art market minute jun 9

The article reports on a new European Union regulation, Regulation 2019/880, set to take effect on June 28, which will impose stricter import requirements on antiquities and artworks over 200 years old and valued above €18,000. Importers must now prove that such objects were legally exported from their country of origin, even if the export occurred decades ago. This comes amid ongoing tariff confusion in the U.S., adding another layer of complexity for the international art trade. The article also teases a rediscovered J.M.W. Turner painting bought for $500 that could sell for $500,000, and highlights upcoming art hot spots for summer.