Italian galleries face crisis amid global market shifts and regulatory hurdles

Franco Broccardi, a chartered accountant specializing in cultural economics, argues that Italian galleries must innovate to survive in a globalized art market. He notes that market mechanisms are changing due to financialization, new media, and technology. Galleries must evolve from mere commercial spaces into inclusive cultural institutions that engage new generations of collectors. The rise of online sales is unstoppable: in 2005 only 3% of auction houses accepted online bids, but now nearly all do. Italian small and medium galleries struggle with high costs (fairs, compliance) and a complex tax system involving margin schemes, resale rights, and unclear final prices. Broccardi calls for tax simplification, including VAT relief on imports, tax credits for investing in living artists' works exhibited publicly, and exemptions for sales to museums. He also advocates for specialized banking sectors for art lending. The article, published in Artribune Magazine #47, cites Dostoevsky and Yoda to emphasize the necessity of decisive action.