At the Grand Palais, the Art Paris 2026 Fair is Rich with Great Promise

Au Grand Palais, la foire Art Paris 2026 riche de belles promesses

The Art Paris 2026 fair is set to return to the Grand Palais, solidifying its reputation as a vibrant, French-focused alternative to the more elite Art Basel Paris. Under the long-term leadership of artistic director Guillaume Piens, the edition will feature 165 exhibitors, with a deliberate 60% representation of French galleries. The fair's structure includes the "Promesses" sector for emerging galleries curated by Marc Donnadieu, alongside two major thematic paths: "Babel – Art and Language in France" curated by Loïc Le Gall, and "Reparation" curated by Alexia Fabre.

Frieze Taps Art Basel Veteran Frank Lasry as Chief Operating Officer

Frieze has appointed Frank Lasry as its new Chief Operating Officer, effective this June. Lasry joins the organization with an extensive pedigree in the art market, having previously served as COO at Perrotin and managing director at Art Basel, where he was instrumental in launching Art Basel Paris. His career also includes senior leadership roles at major auction houses Christie’s and Phillips, positioning him as a veteran executive with deep operational expertise across multiple sectors of the industry.

Which Country’s Art Market Came Out on Top in 2025?

The United States solidified its position as the world's leading art market in 2025, with fine-art auction sales rising 25.3 percent to reach $5.4 billion. Despite early volatility caused by trade tariffs, a surging stock market and cooling inflation fueled a massive November auction season in New York, where nine of the year's ten most expensive artworks were sold. In contrast, China's market contracted by nearly 11 percent due to a persistent property crisis, while the United Kingdom and France saw significant growth, with Paris benefiting from the momentum of Art Basel Paris.

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Art Basel Paris is undergoing a major transformation for its third edition, officially rebranding from 'Paris+ par Art Basel' and moving into the newly renovated Grand Palais. The historic venue, fresh from a $500 million restoration, allows the fair to expand its footprint by 26 percent, hosting 194 galleries compared to last year's 154. The move includes the opening of the ornate balconies for emerging galleries and a new sector called Premise, signaling the fair's transition from a successful 'preamble' to a permanent fixture in the French capital.

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Robert Mnuchin, the former Wall Street financier who became a prominent art dealer, has died at age 92. In other news, the Brighton and Hove Museums in the UK have sparked debate by calling for Santa Claus to be "decolonized," arguing that the traditional figure reflects colonial assumptions and gender norms. The I.V. Savitsky State Art Museum in Nukus, Uzbekistan, has gained global attention in 2025 after a major overhaul, housing nearly 100,000 works of 20th-century art and becoming a hub for cultural tourism. Artist Arnulf Rainer, a key figure in Europe's postwar art scene, also died on December 18 at age 96.

A museum packed with once banned art is flourishing in the Uzbek desert

The I.V. Savitsky State Art Museum in Nukus, Uzbekistan, near the former Aral Sea, houses nearly 100,000 works of 20th-century art, including Russian avant-garde pieces and Central Asian folk art. After a 2024 exhibition in Florence and Venice, the museum underwent a major renovation led by Italian academics and new director Gulbahar Izentaeva, reopening with updated galleries and a new exhibition, "The World of Igor Savitsky." The project is backed by the Art and Culture Development Foundation (ACDF), which also launched the inaugural Bukhara Biennial and partnered with Art Basel Paris.

Art market 2025 review: all eyes on the Gulf as Trump destabilises global order

The global art market continued to contract in 2025, with prominent galleries such as Blum, Clearing, Sperone Westwater, Tilton, Kasmin, TJ Boulting, Project Native Informant, Nir Altman, and Altman Siegel closing due to challenging macroeconomic conditions. However, a rebound emerged at the top end by autumn, driven by Sotheby's white-glove sale of the Pauline Karpidas collection, strong VVIP sales at Art Basel Paris, and New York's November auctions, where Klimt's *Portrait of Elisabeth Lederer* (1914-16) sold for $236.3 million and Frida Kahlo's *El Sueño (la cama)* (1940) for $54.7 million. Christie's and Sotheby's reported increased sales from 2024, with second-half auctions up 26% year-on-year, though recovery remains uneven and concentrated in classic secondary-market tastes.

A Calibrated Market: How 2025 Shaped the Landscape for Collectors in 2026

The article analyzes the art market in 2025, describing a year of divergence rather than a single trend. While aggregate sales remained below post-pandemic peaks, the year ended with a billion-dollar New York auction week, a record-setting Klimt portrait, and strong demand for exceptional works. Segments like Old Master auctions and the $1 million–$10 million band saw growth, while the ultra-contemporary segment struggled. Key events included the May marquee auctions in New York, the second edition of Art Basel Paris, and November sales at Christie’s and Sotheby’s, which demonstrated a split-level market with record highs at the top and discipline elsewhere.

Five forces that reshaped the art market in 2025

In 2025, the art market faced significant challenges, including gallery closures and unfavorable auction results in the first three quarters, driven by geopolitical pressures such as US President Donald Trump's tariffs. However, a rebound occurred in autumn, with buoyant fairs like Frieze London and Art Basel Paris, and strong November auctions in New York totaling over USD 2 billion, carrying momentum to Art Basel Miami Beach. Key events included Gustav Klimt's *Portrait of Elisabeth Lederer* selling for USD 236.4 million at Sotheby's, a record for a Modern work, and a Frida Kahlo self-portrait setting a new record for a work by a woman. Meanwhile, several galleries closed, including Blum, Venus Over Manhattan, Clearing, Kasmin Gallery, Tilton Gallery, and Perrotin and Pace's Hong Kong outposts, while others expanded, such as Thaddaeus Ropac in Milan and Hauser & Wirth in Sicily.

Ecuador's Bienal de Cuenca marks 40th anniversary with a playful theme but a serious tone

The 17th Bienal de Cuenca, titled "The Game," opened on 24 October in Cuenca, Ecuador, marking its 40th anniversary. The biennial features 51 artists selected by 17 international curators, with works displayed across multiple venues including museums, gardens, and the airport. The event highlights artists and curators from the Global South, focusing on social and political concerns rather than market priorities. It opened just two days after political protests ended, with a ceremony featuring an Andean ritual led by artist Carmen Vicente, whose installation "Infinite Steps" won the acquisition prize.

From politics to painting: works by Albanian prime minister Edi Rama are new art fair favourites

Albanian Prime Minister Edi Rama, a trained artist who studied at Tirana's Academy of Fine Arts and worked in Paris before entering politics, has been added to the roster of Berlin gallery Société. The gallery debuted his colorful pen-and-oil drawings and painted bronze sculptures at Frieze London in October 2025 and Art Basel Paris, where around half of the drawings sold. Rama, who has exhibited at the Centre Pompidou and twice at the Venice Biennale, continues to create art while serving his fourth term as prime minister.

Comment | Fine balance: fairs up the exclusivity while appealing to younger clients

Art Basel Paris in October introduced a new ultra-exclusive preview called Avant Première, catering to top-tier galleries with seven- and eight-figure works, while some emerging exhibitors felt sidelined. Meanwhile, the fair's organizers dropped the term "VIP," renaming its dedicated department to "collector and institutional relations," as CEO Noah Horowitz explained that the term could be off-putting to a new generation of buyers. Parallel events like Trauma, a curatorial platform founded by artist Adrian Ghenie, and the Basel Social Club offered more inclusive, youth-driven alternatives, though they still maintained guest lists.

‘The challenge will be to sustain it’: was the autumn art market boom more than just a blip?

The autumn art market saw a significant upturn, with strong sales at Frieze London, Art Basel Paris, and New York auctions, including a $236.4 million Klimt and a $2.2 billion auction week in New York—up 77% year-on-year. Emerging London galleries like Ginny on Frederick, Rose Easton, and A. Squire have reinvigorated Frieze London, while Paris benefits from luxury-house funding, with the Fondation Cartier and Fondation Louis Vuitton hosting major shows. However, concerns persist about sustainability, as geopolitical volatility and post-Brexit challenges continue to affect the market.

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A 1977 Andy Warhol portrait of Muhammad Ali, priced at $18 million, will be the centerpiece of Lévy Gorvy Dayan's booth at Art Basel Miami Beach. The 40-inch acrylic and silkscreen canvas, featuring a royal purple background, was previously purchased for $18.1 million at Christie's in 2021. The work is part of a series of 10 Warhol portraits of sports stars commissioned by collector Richard L. Weisman, and is autographed on the back by Ali.

NADA Miami and Untitled Art Test the Temperature of the Mid-Tier and Emerging Markets

NADA Miami and Untitled Art opened on December 2, 2024, in Miami Beach, both targeting the mid-tier and emerging art markets. The fairs saw strong early sales and a predominantly American and local audience, with fewer European and Asian collectors than in previous years. Dealers reported a rebound in market confidence, with sales activity signaling a recovery in the mid-career and emerging segments, though not reaching the frenzy of earlier boom periods. The fairs also showcased a shift away from bright figuration and identity politics toward deeper reflections on reality, mediatization, and materiality.

Art Basel Miami Beach aims to ‘end the year on a high note’

Art Basel Miami Beach (ABMB) opens amid a still-sluggish global art market, with sales at live events yet to recover to pre-pandemic levels. Director Bridget Finn expresses optimism following strong sales at Art Basel Paris in October, noting that gallerists and collectors were energized. The fair introduces structural changes, including relocating the Nova and Positions sections to the east entrance to spotlight emerging galleries, and launching Zero 10, a platform for digital art. Seven local Miami galleries are participating, with Nina Johnson making her ABMB debut. Despite a few longtime exhibitors withdrawing, Finn attributes this to galleries being more selective across Art Basel's five global fairs, including a new Qatar edition in 2026.