The 'Paris effect': big-name collectors and a strong start to sales at Art Basel's French edition

"The 'Paris effect', as Hauser & Wirth president Marc Payot put it, was in full swing as the third Art Basel Paris opened to VIPs yesterday at the newly renovated Grand Palais... Expectations were riding high after a better-than-expected Frieze in London, which performed solidly last week in the face of..."

"Whereas Frieze was founded as an art fair for the cutting edge, Art Basel has always served a more historical blue-chip market. In a nod to the fair's secondary market status..."

"Business has been very good," Paris says. His was a sentiment echoed around the fair on the first day. Historical sales were strong, with artists like Salvador Dalí and Julie Mehretu leading the sales."

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