Bettina Wohlfarth, Paris correspondent for Frankfurter Allgemeine Zeitung

Around 2013–14, Paris didn’t enjoy an excellent reputation for art, compared to other cities like New York, London, or Berlin. Brexit was a trigger: international galleries based in London found themselves in a state of great uncertainty, and some began to think about opening elsewhere in the European Union. In the years that have followed, several of them have set up shop in the French capital. But this is not the only reason why Paris has become a central location for the European art market. At the same time, the Matignon district, not far from the Grand Palais, became a new hub for galleries. Major foundations and institutions have opened their doors. These will be followed in 2025 by the inauguration of a new flagship building for Fondation Cartier near the Louvre. New venues have also opened, such as Komunuma in Romainville, which began 2019 with the Fiminco foundation, and galleries such as Air de Paris, Jocelyn Wolff and In Situ – Fabienne Leclerc. The French capital is also teeming with important museums.

It’s thanks to these developments, and an environment that has really come to life in just a few years, that a fair like Art Basel has taken an interest in Paris. Now it’s the very presence of Art Basel that acts as an additional magnet for the city’s art market as a whole: artists, exhibitions, institutions, professionals, and collectors converge on the capital, while auction houses organize their best sales to coincide with the fair. Expectations are high: many professionals are delighted to see Art Basel Paris for the first time in a freshly restored Grand Palais, with more space and therefore more exhibitors, as well as an even richer and more extensive off-site program. In Paris, there are ample opportunities for creating connections between the fair and the city, and exhibitions in galleries, museums, and so many other venues extend what can be seen on the stands at the fair. I think, moreover, that people are newly infatuated following the opening and closing ceremonies of the Olympic Games in summer 2024. I’m very optimistic about the future role of Paris in the European art market, but also as a destination for contemporary art, and the arts more broadly across eras and genres.