M.F. Toninelli Art Moderne Monaco has been in operation since 1945, when Mr Romeo Toninelli opened his first gallery "Il Camino" in Milan in association with art publishers and dealers who had been leaders in modern Italian art since the Thirties, known as "Il Milione". Significant one-man shows in 1945 to 1947 included Boccioni, Campigli, Carra, De Chririco, Morandi and Sironi.

After decades of successful exhibitions and participation in numerous leading art fairs around the world, in the Nineties Mrs. M.F. Toninelli and third generation family member Gaia Toninelli shifted the main office and operations from Rome to the Principality of Monaco.