Upsilon Gallery Opens in Milan, Strengthening City's Art Market Appeal

Upsilon Gallery will open its first Italian location in Milan on November 18, 2025, at Via Gastone Pisoni 2, near Teatro alla Scala and within the Quadrilatero fashion district. Founded in 2016 by German-Argentine art expert Marcelo Zimmler, Upsilon already has spaces in New York (Upper East Side, since 2022) and London (Mayfair, opened August 2024), with its operational office in Miami. The Milan space spans about 200 square meters, featuring Ceppo di Grè floors and marble details, described as a homage to Milanese architecture. The inaugural exhibition will be a solo show of Osvaldo Mariscotti, featuring four canvases from his Into The Valley collection, also shown simultaneously in New York and London. A bilingual catalog by David Ebony and Alex Grimley will accompany the show. Future plans include collaborations with fashion and design brands during Salone del Mobile. Zimmler cited Milan's cultural and financial significance, a growing collector base in Italy, proximity to Zurich and Paris, the recent reduction of VAT on art sales from 22% to 5%, and an influx of wealthy British collectors post-Brexit as reasons for the expansion. This follows Thaddeus Ropac's opening at Palazzo Belgioioso a month earlier, and recent arrivals of Robilant + Voena, Scaramouche, Cadogan Gallery, and Ben Brown's announced intention. The Financial Times' Melanie Gerlis identified Milan as the 'last European art hotspot' in early 2025.