Art Basel Paris officially opened on October 22, 2024, with a new VIP tier called 'Avant-Première' granting early access to favored collectors. The fair saw a shift in mood from socializing to business-focused transactions, with multimillion-dollar works on offer, including a Gerhard Richter painting reportedly sold for over $20 million by Hauser & Wirth. Pre-fair events included dinners hosted by Marian Goodman for artist Paul Sietsema, gallery openings at Salon 94's new Palais-Royal space, and a VIP evening at the Musée d'Orsay for a Bridget Riley exhibition. American galleries and collectors dominated the week's parties, with events by David Zwirner, Gladstone, and others.
This year's Art Basel Paris signals a potential shift in the European art fair hierarchy, with Paris increasingly challenging both London and Basel as a commercial hub. The introduction of Avant-Première and the focus on sales over socializing reflect a maturing market in Paris, where galleries use the fair to build waitlists and conduct business outside the Grand Palais. The strong American collector presence and reported high sales suggest Paris is solidifying its position as a major art market destination, raising questions about whether it may eventually rival Basel itself.