Art Basel Paris has rewarded top dealers with significant sales during its new VVIP preview slot, Avant-Première, held on October 21. Hauser & Wirth led with over $30 million in sales, including Gerhard Richter's "Abstrakte Bild" (1987) for $23 million, while David Zwirner sold a Ruth Asawa sculpture for $7.5 million. Goodman Gallery sold two works by William Kentridge to museums, and White Cube placed Julie Mehretu's "Charioteer" (2007) for $11 million. However, some dealers like Philomene Magers found the opening too crowded, and adviser Aileen Agopian noted the market remains far from the frenzy of previous years, with no single sale surpassing the $40 million Mark Rothko painting brought by Pace two years ago.
This matters because Art Basel Paris is solidifying its position as a premier art fair, potentially eclipsing Basel itself in importance, according to dealer Thaddaeus Ropac. The fair's ability to attract top collectors like Maja Hoffmann and Delphine Arnault, and to facilitate high-value sales despite a rocky market, underscores its growing influence. The success of the Avant-Première preview suggests that strategic changes can enhance the fair experience and drive sales, even as the broader art market shows signs of caution. The concentration of sales among established artists like Richter, Asawa, and Kentridge highlights the continued demand for blue-chip works.