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artissima art fair turin 2025 report 1234759650

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.

‘The government understands what is at stake’: Italian art world weighs in on tax cut at Artissima

The Italian parliament reduced VAT on art sales from 22% to 5%, the lowest rate in Europe, a move announced by Prime Minister Giorgia Meloni's government. The tax cut was celebrated at the 30th anniversary dinner of the Fondazione Sandretto Re Rebaudengo in Turin, where politician Federico Mollicone noted it had been over 30 years in the making. The contemporary art fair Artissima, holding its 32nd edition in Turin, became the first Italian fair to test the new tax policy. Italian dealers reported positive effects, including easier deal closures and increased sales to both Italian and European collectors, with some galleries experiencing their best opening day ever.