The art world is witnessing a significant shift in power dynamics as Art Basel Paris emerges as a formidable competitor to the traditional Basel fair. The recently concluded Paris edition attracted 73,000 visitors, including French President Emmanuel Macron, Basel art collector Maja Hoffmann, and Delphine Arnault, daughter of luxury magnate Bernard Arnault. The event generated headlines not only for its prestigious guest list but also for record-breaking sales, with Hauser & Wirth gallery selling a Gerhard Richter work for $23 million.
The success of Art Basel Paris has raised questions about Basel's position among the world's top art market centers. While the Basel fair recorded 88,000 visitors this summer, exceeding its Parisian counterpart, attendance was down from 2024 levels. Industry insiders noted a significant decrease in American collectors traveling to Basel, with many apparently preferring the Paris edition instead.
Prominent art dealers have been vocal about this shift in preferences. Marc Glimcher, CEO of Pace Gallery, told Artnet News that galleries display their best works where collectors are present, and this year that location was Paris. He described the Basel Art Basel as a "debacle" and suggested it's entirely possible that the Paris edition could replace the Basel art fair. When contacted for clarification, Glimcher declined to elaborate on his statements.
Other major players in the art world have echoed similar sentiments. Austrian art dealer Thaddaeus Ropac told The Art Newspaper that Paris overshadows Basel in market significance, calling it "the leading art fair." Paris gallerist Chantal Crousel confirmed to the FAZ that many collectors from America and Asia now travel to Europe primarily for the Paris edition.
Paris benefits from three key strategic advantages: proximity to London, a high concentration of luxury hotels, and the presence of major luxury conglomerates. The timing of cultural events further reinforces this advantage – the Louis Vuitton Foundation opened a Richter exhibition to coincide with the fair, while the Cartier Foundation unveiled its new location near the Louvre.
In response to these developments, an Art Basel spokesperson emphasized that Basel offers unique conditions due to its intimate setting and the city's cultural density. "Basel remains the place where galleries present their most significant works and where the international art world comes together," the spokesperson stated. The organization maintains that Basel's traditional strengths continue to set it apart in the global art market.
Nicolas Galley, who heads the Art Market Studies program at the University of Zurich, places this development in a broader context. He notes that Art Basel, under the influence of major shareholder James Murdoch, is increasingly focusing on the luxury segment. "Paris fits perfectly into this strategy: a luxury experience where you can also see great art," Galley explained. He pointed out that Art Basel's new venture in Qatar follows the same direction.
However, Galley disputes claims of Basel's decline, stating he knows of no major gallery that has stopped applying to participate in Basel. He believes the fair won't disappear, particularly given its infrastructure and duty-free storage facilities. Instead, Basel might refocus on its core business of art trading, moving away from glamour and overseas visitors to return to its origins as a meeting place for art dealers rather than a social event.
The art world will face another test of these shifting dynamics with the inaugural Art Basel Qatar scheduled for February 2026. Meanwhile, Paris continues to evolve, with Karim Crippa taking over as director on November 1st. His mandate is to further strengthen the fair's position as one of the most dynamic platforms in global art trade.
Whether Paris will ultimately surpass Basel remains to be seen, but one thing is certain: the art market follows attention, and that attention appears to be redistributing itself across the global landscape. As the competition intensifies, both cities will need to adapt their strategies to maintain their relevance in an increasingly dynamic and competitive international art market.
