At the Grand Palais, Art Basel Paris takes it up a notch

It was in an almost brand new Grand Palais after a major facelift and under bright sunshine that the 3rd edition of Art Basel Paris (formerly Paris +) opened yesterday. Enthusiastic, all the visitors, almost too numerous in the morning, praised the pleasant natural light in the nave, the new surfaces gained in the mezzanine, the general impression of space, but also the quality of the works presented.

However, this is not a time of euphoria. In recent weeks, Parisian galleries have expressed their concerns after months of lean times, and their hopes placed in this “Paris Week”. Were collectors going to be there and, above all, in a buying mood despite the economic upheavals and the hardly favorable global geopolitical context? Encouraged by the high-end programming of public and private institutions and the numerous openings organized this week, collectors and major advisors from the international market came in large numbers to visit the fair, such as Maja Hoffmann, Jose Mugrabi, the American advisor Sandy Heller, Delphine Arnault and other members of her family, Martin Margulies who owns a collection in Miami with the biggest names from Rothko to Kiefer… The holding of major exhibitions notably at the Louis-Vuitton Foundation or the Bourse de Commerce -Pinault Collection also encourages certain very large lenders, particularly American ones, to come to Paris and visit Art Basel Paris… The City of Lights has probably never been as international as it is this fall. “ With Art Basel, Paris has become even more international », slips a visitor. In addition to the numerous Americans, some with a bottle of Coca-Cola in their hand, we also noted the presence of more Asians in the aisles, coming from Korea, China, Thailand… Thus, the Pace gallery came with its directors of offices or spaces in Hong Kong, Seoul or Japan! The brand stands out with a spectacular stand curated by artist Paulina Olowska with pieces by Louise Nevelson, Kiki Smith, Lucas Samaras and Olowska herself – large, mysterious paintings. A sculpture by Kiki Smith, on the ground, awaited buyers at $950,000 and a box by Lucas Samaras from 1974 full of fantasy was listed for the tidy sum of $500,000.

Overall, the trend is no longer towards risk-taking. “ We are not going to test things for the sake of testing, but to put important and conservative works, that’s what people are looking for at the moment, a trend already seen in Basel in June », confides Anne-Claudie Coric, general director of the Templon gallery. And to add: “ The audience is dense, and our Parisian collectors are present en masse. Our many VIPs from Asia and the United States came in large numbers and were particularly receptive to our choice to highlight the French scene, from Prune Nourry and Abdelkader Benchamma to Christian Boltanski, including François Rouan and Gérard Garouste. It’s a paradigm shift that shows the vitality of Paris. » The gallery sold among others a work by Garouste for 120,000 euros, one by Alioune Diagne for 65,000 euros, a piece by Chiharu Shiota (featured at the Grand Palais from December) for 120,000 euros or even a piece by Abdelkader Benchamma for more than 20,000 euros. Overall, the fair is going up a notch this year, with a number of international galleries presenting works of the highest caliber, in line with Basel…

Nahmad Contemporary pays a nod to the centenary of surrealism with notably a comical Magritte inspired by Manet, at $8.5 million, and a dark Max Ernst at $10 million. David Zwirner shows two beautiful Josef Albers in the aisle. Hauser & Wirth exhibits a Malevich from 1915 “ booked by a European » and whose price the gallery does not want to disclose, but which should be the most expensive work of the Fair. “ Ten years ago this painting sold for $33 million, you can imagine its current price. It’s a piece that could have been shown in Basel. We made an effort to show very important pieces, there is incredible energy throughout the city », Confides Marc Payot, co-president of the brand. She hung in the aisle a beautiful painting by Jeffrey Gibson for $500,000, the artist, who represented the United States at the 2024 Venice Biennale, having just entered the gallery. “ In turbulent times, buyers focus on safe values ​​and investments », observes an advisor. Provided, however, that you have a little cash. The Landau gallery in Montreal asked 39.2 million euros for the very beautiful Magritte from 1960 representing a cloud emerging from a glass, The Sensitive Cord. The same work reached 16.9 million euros at auction in 2017 in London, then a record for the Belgian artist. Seven years later, Seven years later, the new asking price leaves one wondering…

In any case, some galleries – which had prepared the ground very well – were a hit yesterday at the end of the day. Ceysson & Bénétière thus sold for a total of 1.8 million euros (for 38 pieces, from Toni Grand to Tania Mouraud) including 1.2 million euros finalized before the opening of the Fair… White Cube did sold out and notably sold a work by Julie Mehretu for $9.5 million. In a phase of market adaptation, big names and widely established artists are still successful. It remains to be seen whether this very satisfactory start will also bear fruit for the youngest galleries or other French brands, not always well placed at the Fair…

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Art Basel Paris October 18-20, 2024, Grand Palais, 3, avenue du Général-Eisenhower, 75008 Paris.