Art Basel Paris Launches at Grand Palais

Art Basel Paris has officially opened at the Grand Palais, marking a significant return of the renowned art fair after its rebranding from the former FIAC. With 195 galleries from 44 countries participating, the event showcases high-profile artworks and has attracted major collectors and celebrities, including Natalie Portman and Queen Rania of Jordan. Notable sales on the first day included Julie Mehretu's piece for $9.5 million, highlighting the fair's strong commercial appeal. The fair's integration into Paris's vibrant art scene is facilitated by favorable taxation and robust museum offerings, as well as the Swiss MCH Group's management. This year's event is characterized by a renewed energy, with a diverse array of contemporary art pieces and a significant presence from Asian collectors. The Loft Art Gallery, the first Moroccan gallery at the fair, emphasizes the importance of its participation for Moroccan art representation on an international stage.