Paris is an undisputed cultural center, but it has long been overlooked as a place to buy and sell contemporary art. France has struggled to secure its place as a hub among collectors, with neighboring Britain and Switzerland home to Europe’s largest art market and the world’s largest art fairs, respectively.
But the Parisian art world, already buoyed by the potential for business outflow from post-Brexit London, was further boosted by the inaugural Paris+Par Art Basel.
About 40,000 people attended the first French edition of the high-profile trade fair, which was founded in Basel, Switzerland and has since expanded to Miami and Hong Kong, according to a press release. More than 150 galleries from 30 countries attended his four-day event, which closed on Sunday at the Grand Palais Ephemer.
Organizers report what they described as “brisk” sales. Participating galleries are not obligated to disclose their figures, but 12 galleries have confirmed deals over $100,000. exceed. Among them were artwork by major names such as Alex Katz, Christopher Wool, and Georg Baselitz.
Border by Joan Mitchell (1989) (middle left) is displayed inside the David Zwerner gallery space at the fair. credit: Dawn Blackman
Various major collectors, museum representatives and art advisors were reportedly in attendance, and the President and First Lady of France, Emmanuel and Brigitte Macron. It featured a showcase of emerging galleries, a series of lectures, and more than 20 public works of art exhibited in the nation’s capital.
In a statement, the fair’s director, Clément Delepine, described the event as an “inflection point” for the French art world. It’s a testament to the spirit of unity that made the first edition’s extraordinary success possible,” he said.
focus shift
Art Basel’s parent company, MCH Group, won the rights to host the fair after an open competition. A seven-year deal announced in January will see the annual event eventually move from its current temporary location to the historic Grand Palais when restoration work is completed in 2024.
In securing the deal, Paris+ par Art Basel won a calendar slot long held by the International Contemporary Art Fair (known locally as the Foire Internationale d’Art Contemporain, or FIAC). The FIAC, which has been held in Paris since 1974, has typically been held at the Grand Palais the week after Frieze London, but has never quite matched the blockbuster sales of British rival Art Basel’s original edition of his edition in Switzerland. There was not.
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French President Emmanuel Macron inspects works of art during his visit to the fair. credit: art basel
Local gallerists hoped that Art Basel’s organizational weight and reputation on the art market would help it attract a wealthy international clientele. Speaking to Reuters, gallery owner Kamel Menur said the collaboration with Art Basel has helped attract “a new type of public coming from America and Asia.”
“Paris already has a lot of energy, but this is creating acceleration,” said Menour, who reported that he sold two works by sculptor Alberto Giacometti for $2.75 million and $1.45 million respectively. rice field. “Paris is booming.”
Several major new galleries have opened in the city in recent years, and dealers speculate that France could benefit from the uncertainty Brexit has cast on London’s art market. But the UK’s share of global art sales has fallen from 20% in 2020 to 17% last year, but is still more than double France’s, according to annual reports from UBS and Art Basel.
A masterpiece by 16th-century Dutch artist Brueghel the Elder sold for $10 million last week at Frieze.