Art Basel Paris, held from October 18 to 20, 2024, marked a significant cultural event, coinciding with the city's preparations for the upcoming Summer Olympics.

The fair featured 195 galleries from 42 countries, including 65 based in France, showcasing a mix of contemporary and modern art alongside emerging talents.

This year’s event took place in the newly renovated Grand Palais, where dealers presented high-value artworks, generating excitement for future exhibitions.

Notable sales included a painting by Jonas Wood that sold for €1.6 million and a work by Julie Mehretu fetching €9.5 million, setting a record for first-day sales.

The highest sale of the fair was Louise Bourgeois' 'Spider I,' which sold for €20 million, reflecting a positive outlook despite a generally weakening market.

A new sector called 'Premise' highlighted unique curatorial proposals from nine galleries, while 'Emergence' showcased 16 emerging artists and galleries.

Complementing the fair, various cultural events and exhibitions in Paris included retrospectives of Colombian artist Olga de Amaral and Gustave Caillebotte at the Musée d’Orsay.

In a notable development, New York art advisor Lisa Schiff pleaded guilty to fraud, raising concerns within the art industry.

Exhibitors reported strong sales across various market segments, showcasing works by renowned artists such as Louise Bourgeois and Willem de Kooning.

Key installations outside the Grand Palais included Carsten Höller’s 'Double Trip Mushroom' at Place Vendôme and immersive works by James Turrell at Gagosian’s Le Bourget.

Featured artworks included David Hockney's 'Rain on the Pond,' priced at €500,000, and Pierre Soulages' Outrenoir painting from 2008, valued at €2.7 million.

The fair also introduced OFFSCREEN, focusing on experimental image-based artworks, showcasing pieces by notable artists like Alfredo Jaar and Gordon Matta Clark.