The French art market looks buoyant ahead of Art Paris

Since Brexit Paris has been re-emerging as a key marketplace for Modern and Contemporary art, laying the foundations for the international promotion of French artists: Art Paris, of which Artprice is a loyal partner, is participating in this effort along with BNP Paribas.

Our latest global art market report – The Art Market in 2023 – highlights the impressive dynamism of the French art market over recent years. Ranked fourth in the world by art auction turnover, the French market posted relative stability compared with the general readjustment of the international art market over the last year. In 2023 France’s art auction turnover contracted by only 11% vs. 2022 (to $875 million) compared with -28% for the American market and -15% for the UK after a sharp shrinkage in supply and a substantial loss of enthusiasm at the high end of the market. But, unlike the UK market, and (to a lesser extent) the American market, the French art auction market is primarily fuelled by ‘local’ artworks. Moreover, it offers (and sells) a very substantial volume of works (106,400 lots sold in 2023) making it the second densest art market in the world. And while most of these works are comparatively affordable, there has been considerable growth in the country’s high-end segment in recent years. Over the last fifteen years, France’s art auction turnover has grown by more than 70%, with a significant increase in the number of results above the $1 million threshold (as detailed in our The Art Market in 2023 Report).

The renewed vitality of the French marketplace goes far beyond the auction world and can be seen at several levels. Paris clearly has aspirations of recovering the global role it played at the turn of the 20th century, attracting international artists and major art market players energized by the idea of meeting there. The recovery of the French capital’s power of attraction is clearly visible with the recent opening of international galleries like Mendes Wood DM and Hauser & Wirth, and, before them, David Zwirner in 2019 and White Cube and Galleria Continua in 2020. The presence of these prestige galleries is contributing to reviving Paris’s position at the heart of the global art market and to enhancing its international reputation.

Meanwhile, more and more French galleries are opening branches abroad, particularly in New York: Perrotin, Templon, Ceysson & Bénétière, Lelong, Almine Rech, Georges-Philippe & Nathalie Vallois and the galérie 1900-2000. This development is vital for promoting contemporary French artists whose works – long absent from the international market – change hands for prices well below those of their American, English or Chinese counterparts. And promoting the quality of the French art scene is one of the major objectives of the Art Paris fair that will open in a few weeks.

A look at the French scene. Elika Hedayat, Les dépossédés #14, 2023, Oil on canvas, 163 x 114 cm. Aline Vidal Gallery

A look at the French scene. Sara Jerôme: Courtesy of the artist and H Gallery

Art Paris supports French artists

For its 26th edition, from April 4 to 7 at the Grand Palais Éphémère, Art Paris has taken a further step to support the French art scene by launching the BNP Paribas Prize in collaboration with BNP Paribas Banque Privée, official premium partner of the fair. The “BNP Paribas Banque Privée: a look at the French scene” prize will reward the career of an artist, chosen from among the nominees selected by Éric de Chassey, guest curator of Art Paris 2024, who offers a program around “Fragile Utopias”. The prize, with an endowment of 30,000 euros, will be awarded to a French artist represented by one of the galleries participating in Art Paris on Wednesday 3 April 2024 during the fair’s opening session.

 

Artists nominated for the BNP Paribas Banque Privée prize: a look at the French scene:

Jean-Michel Alberola (born 1953) – Templon

Yto Barrada (born 1971) – Polaris

Cécile Bart (born 1958) – Gallery Catherine Issert

Alice Bidault (born 1994) – Pietro Sparta

Nicolas Chardon (born 1974) – Onirismes.art

Mathilde Denize (born 1986) – Perrotin

Nathalie du Pasquier (born 1957) – Yvon Lambert

Philippe Favier (born 1957) – Gallery 8+4

Elika Hedayat (born 1978) – Aline Vidal Paris

Sarah Jérôme (born1978) – H Gallery

Benoît Maire (born 1978) – Nathalie Obadia

Edgar Sarin (born 1989) – Gallery Michel Rein

Daniel Schlier (born 1960) – East Gallery

Assan Smati (born 1972) – Nosbaum Reding

Raphaël Zarka (born 1977) – Mitterrand

 

Art Paris – key figures

136 galleries selected for the 2024 edition

42 new arrivals compared with 2023

60% French exhibitors

20% of the selection for Modern art

80% of the selection for Contemporary art

18 solo shows

35 VIP program meetings

 

Artists with solo shows:

Gilles Barbier (1965) / Huberty & Breyne

Leyla Cardenas (1975) /Galerie Dix9 – Hélène Lacharmoise

Stijn Cole (1978) / Irene Laub Gallery

Fathi Hassan (1957) / Nil Gallery

Jean Hélion (1904-1987) / Patrice Trigano Gallery

Lucia Hierro (1987) / Fabienne Levy

Ellande Jaureguiberry (1985) / Gallery 22.48 m2

Katia Kameli (1973) / 110 Galerie Véronique Rieffel

Mohamed Lekleti (1965) / Galerie Valérie Delaunay

Jacqueline (1920-2009) and Jean (1913-1992) Lerat / Galerie Capazza

André Masson (1896-1987) / Galerie Jacques Bailly

Samantha McEwen (1960) / Modesti Perdriolle Gallery

Giulia Marchi (1976) / Labs Contemporary Art

Jung-Yeon Min (1979) / Maria Lund Gallery

Pauline-Rose Dumas (1996) / Galerie Anne-Laure Buffard

Ben Walker (1974) / Soho Revue

Sophie Zénon (1965) / Gallery XII

Carlo Zinelli (1916-1974) / Galerie J.P. Ritsch Fisch

Maria Helena Vieira da Silva, Ballet ou Les harlequins, 1946. Galerie Jeanne Bucher Jaeger

Art Paris

4-7 April 2024

Grand Palais ephemeral. Champ de Mars, Paris