I've seen the occasional anecdotal remarks about a "bad experience" with matte varnish -- though it often seems that the situations described implicated other possible culprits as well. I haven't heard or seen or been able to locate any authoritative or definitive discussion that would counsel one to avoid matte-finish varnish.
Matte varnish is, unscientifically, just varnish with wax or some microsized particulate suspension that serves to influence the angle of light refraction, so that, in simple terms, light gets diverted "sideways" as it enters and exits the painting surface, rather than going straight into and reflecting straight back out of a painting. Though it is a characteristic of the different types of varnish that they dry with varying degrees of hardness, any varnish receiving additives to create the optical "matte" effect is going to be slightly weaker in structure and, according to one source, softer and more susceptible to scratching. Again, I've not encountered any advisories that this difference in curing is one that should cause significant worry.
You might wish to use a matte varnish if, say, you want to minimize the incidence of glare (though you can't eliminate glare completely with matte varnish, just as you can't entirely overcome the effects of strong light by framing with non-glare glass.) It may also seem appropriate if the subject matter of the work is such that a smooth shiny surface would not be in keeping with the mood of the piece. I have two still-lifes drying right now (though in Taipei humidity, not very fast), each of which is a very low-lit setting with flat, very dark backgrounds. I'm definitely thinking "matte" for those, because I "see" a glossy finish as spoiling the effect -- and if anyone knows of a good reason to reconsider, please! sound the alarm.
Many painters do like the glossy look of straight varnish, as it presents a "freshly painted" appearance, but I think it's absolutely fine if your preferences lie elsewhere. I would note, however, that if you begin to paint in a manner in which you're deliberately using hues in underlayers that you want to "shine through" the layers of paint on top of them (a technique said to give "luminosity" to paintings, as if they were self-lighted from within), the light disturbance that is the very reason for choosing matte varnish will now work against the light's getting cleanly and directly to those lower layers and reflecting back out to the viewer.
Just some considerations. Harold Speed writes that "the subject of varnishing paintings is a very vexed one," noting that some painters simply choose not to varnish at all. No doubt some of the pros on this site can better describe how they've learned to unvex the subject.
Good luck
Steven
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