Mazzoleni opens its third gallery in Milan

What is the outlook from your point of view? Are there signs of recovery or not yet?
We look to the future with cautious optimism. The majority of HNW collectors declare themselves confident for 2024-2025, according to the UBS report, and we too see an upturn in interest, albeit slowly, especially in fair and private contexts. On the one hand, falling inflation and the expected decrease in interest rates are creating a more favourable climate for cultural investments and collecting; on the other hand, geopolitical instability continues to be a cross-cutting brake for all economic sectors, including the art market.

Gographically speaking, which are the strongest markets at the moment, and on which do you feel the crisis most strongly, considering your international locations and the fairs you attend?
The Far East Asia has shown strong responsiveness in the post-lockdown period, with a rapid recovery and the entry of many new collectors, particularly in China. The UK, on the other hand, lost ground, partly due to the impact of Brexit. Italy is confirmed as a solid market for us, with an attentive, intergenerational and increasingly informed collectorism. We have, on the other hand, noted a more marked slowdown in some areas of continental Europe and in the United States, which, while maintaining its global leadership, has shown more caution, particularly in the trade fair sector, where demand has contracted in some specific price brackets.

How has collecting in Italy changed?  
It has changed profoundly in recent years. Awareness and information on the part of collectors has increased and, also thanks to digital platforms, they move with greater competence and attention. The generational change is still struggling to take off, and this could be a critical issue in the long run, but new collectors are emerging who are interested not only in investment, for whom depth of artistic research is essential.

Are we buying or selling more in Italy?
There is a good liveliness both on the acquisition and disposal front: those who buy do so more selectively, while those who sell often seize the opportunity of an ongoing revaluation, particularly for post-World War II Italians. In general, people in Italy today buy and sell with greater awareness and attention to quality.

Do you see more market difficulties among historicised artists or contemporary artists?  
For historicised artists the market remains solid, but requires constant valorisation and critical contextualisation to keep collectors' attention. For contemporary artists, the public is generally receptive, but the market is more volatile and sensitive to the economic and cultural dynamics of the moment. A determining factor is the tax regime applied to Contemporary artworks. Currently, in Italy, the ordinary VAT rate of 22% applies to most transactions, making the national market less competitive compared to other European countries such as France (5.5%) and Germany (7%). Angamc and Italics, of which we are consortium members, are working in synergy for a desirable alignment with other European countries.

Among your artists, which ones are attracting the most attention in Italy and abroad?  
In addition to the established artists of post-war Italy, from Alberto Burri to Lucio Fontana, we are seeing a growing attention towards Salvo, the protagonist of a wide-ranging critical and collector's rediscovery. The work carried out by the Archive in recent years has contributed to restoring centrality to his research, reinforcing a transversal collecting, ranging from the United States to the Far East. There is also great interest in the work of Marinella Senatore, whose work stands out for its social commitment and ability to activate communities through participatory processes. Her presence in the Unlimited section of the forthcoming Art Basel, curated by Giovanni Carmine, confirms the international relevance and topicality of her research.

Are you planning to include new artists in your programme in the near future?  
Our main objective remains to strengthen our work with the artists we represent, supporting their projects on an international level. We do not, however, exclude the inclusion of new artists, such as recently Iran do Espírito Santo, a Brazilian of international relevance (already in the collections of MAXXI, MOMA and the Guggenheim in New York), to whom we have dedicated a solo exhibition in London in summer 2024 and who will be the protagonist of an exhibition in Turin in autumn, in conjunction with Artissima.

Beatrice Miatto collaborated