Behind the Scenes 2025: Art & Market – H1 Review

As the first half of 2025 draws to a close, it’s time to reflect on the events that have shaped the art world in the past six months. Despite a backdrop of geopolitical instability and economic uncertainty, the art market has shown remarkable resilience and continued capacity for innovation and inspiration.

This complex yet dynamic environment has reaffirmed Trium Art Gallery’s mission: to guide collectors, investors, and art enthusiasts through a rapidly evolving landscape with vision, expertise, and commitment.

A transforming global context

In the first semester of 2025, global tensions and shifting economic conditions have impacted the art market, prompting a more cautious climate. Nevertheless, the main auction hubs – notably New York, followed by London, Hong Kong, and Paris – have maintained strong activity, particularly in the segment of works priced between $500,000 and $10 million. In this range, demand remained solid, reflecting steady interest in established names and high-quality pieces. Paris, in particular, stood out with a significant year-over-year growth, cementing its central role in the European art market with a vibrant gallery ecosystem and a growing international clientele.

The first half of the year also saw a clear preference for quality and careful curation. With fewer major auctions taking place, many transactions shifted toward private sales. Works above $10 million witnessed a notable drop, reflecting a more conservative approach and a renewed focus on long-term value

5% VAT: a game-changer for Italy

Among the most impactful developments for the Italian art system is the historic reduction of VAT to 5% on art sales, officially effective from July 1, 2025.

This measure positions Italy as the most fiscally advantageous country in Europe for purchasing artworks – especially those by contemporary and emerging artists. The benefits extend beyond domestic transactions: importing artworks from outside the EU to Italy has never been more competitive, thanks to the lowest applicable VAT rate on the continent.

For collectors and professionals alike, this change marks a strategic opportunity to operate within a tax regime finally aligned with the most favourable international standards, enhancing Italy’s role as a global art market hub.

Spotlight on Art Fairs

This first semester was marked by the revival of major international art fairs, underscoring their importance as cultural and commercial meeting points.

TEFAF Maastricht reaffirmed its status as a benchmark event for ancient and modern art, with acquisitions by prestigious institutions such as the Metropolitan Museum of Art, Louvre Abu Dhabi, and the Hermitage.

Art Basel Hong Kong showed a shift in collector demographics, with stronger participation from South Korea and Australia. Art Basel Basel maintained its exceptional artistic standards, though it recorded fewer multimillion-dollar sales and a reduced non-Western collector base.

One of the season’s surprises was ARCO Madrid, reinvigorated by favourable fiscal policies and a curatorial focus on historically overlooked voices. The fall fairs in Paris, London, Seoul, and Miami are now anticipated to set the tone for the rest of the year.

Trium Art Gallery: our first semester highlights

For Trium Art Gallery, the first half of the year has been vibrant and rewarding.

Following our participation in the MEGA Art Fair 2025 in April, we are currently showcasing a curated selection of works in “Banksy & Friends: Stories of Rebel Artists”, on view at PALP Palazzo Pretorio in Pontedera until November 9, 2025. The show includes works by Mario Schifano, Donald Baechler, Sara Pope, Odinakachi Okoroafor, Adam Handler, and Patrizia Casagranda.

Looking ahead, we will take part in the Germinale Festival 2025 in the Monferrato region, featuring Pedro Pires and Federico Borroni, and we are planning participation in another fair by year’s end.

We will soon unveil exciting developments around Adam Handler and announce a major new collaboration with Malian artist Ibrahim Ballo, whose dynamic practice is gaining traction among international collectors and institutions.

Art Advisory: empowering smart collecting

Our Art Advisory service has seen impressive growth and engagement. Designed for collectors and investors seeking to identify high-potential opportunities, this service offers access to market insights and tailored acquisition guidance via an exclusive broadcast channel.

Our team monitors the global market to identify artworks with outstanding growth potential and exceptional value.

One of the most notable acquisitions this year was a décollage by Mimmo Rotella, “Il concerto di Marylin” (1959–1999, 140 x 100 cm), which we secured for a client at an exceptionally favourable price. This case illustrates how our strategic approach enables access to rare and valuable works under optimal conditions.

We look forward to expanding this service to a broader network of collectors and investors passionate about art and long-term vision.

Artist focus

Our gallery remains committed to scouting and showcasing international emerging talents. This semester we have had the honour of presenting Federico Borroni, Odinakachi Okoroafor, and Pedro Pires – and we will soon introduce Ibrahim Ballo to our audience. These artists stand out for their compelling practices and strong international curricula.

On the historical front, we continue to see strong interest in key post-war Italian artists. In particular, Mimmo Rotella, Tano Festa, Mario Schifano, Donald Baechler, and Giorgio Griffa have generated considerable enthusiasm among our collectors, reflecting a renewed attention to the Italian and international post-war canon.

Conclusion

In summary, the first half of 2025 has revealed a selective yet vibrant market, responsive to shifting cultural, fiscal, and economic dynamics. Trium Art Gallery will continue to lead with passion, expertise, and vision.

The second half of the year promises new opportunities – and we’re just getting started.

Article cover image
Enoki, 2025
Acrylic and spray paint on canvas
120 x 276 inches (304.8 x 701 cm)
Image’s rights: Katherine Bernhardt and David Zwirner