diff --git a/crates/engine/src/cmd/opacitymask.rs b/crates/engine/src/cmd/opacitymask.rs
--- a/crates/engine/src/cmd/opacitymask.rs
+++ b/crates/engine/src/cmd/opacitymask.rs
@@ -343,6 +343,15 @@ impl TransparencyInfo {
             ids,
         }
     }
+
+    /// The opacity of the focused gradient mesh `point` (see `transparency.set`) instead of its
+    /// object's.
+    fn with_mesh_point(mut self, point: Option<(NodeId, usize, f32)>) -> Self {
+        if let Some((_, _, o)) = point {
+            self.opacity = Some((o as f64 * 10_000.0).round() / 100.0);
+        }
+        self
+    }
 }
 
 /// The nodes of `ids` that exist: looked up one by one when few, else in one walk of the tree.
@@ -370,7 +379,10 @@ impl Session {
     /// edited (`transparency.info` without ids).
     pub fn transparency_info(&self) -> TransparencyInfo {
         match (self.active(), transparency_targets(self, &Value::Null)) {
-            (Some(st), Ok(ids)) => TransparencyInfo::of(&st.doc, ids),
+            (Some(st), Ok(ids)) => {
+                let point = super::paint::focused_mesh_point_of(self, &ids);
+                TransparencyInfo::of(&st.doc, ids).with_mesh_point(point)
+            }
             _ => TransparencyInfo::default(),
         }
     }
@@ -378,7 +390,9 @@ impl Session {
 
 fn info(s: &mut Session, p: &Value) -> Result<Value> {
     let st = s.doc()?;
-    let i = TransparencyInfo::of(&st.doc, transparency_targets(s, p)?);
+    let ids = transparency_targets(s, p)?;
+    let point = super::paint::focused_mesh_point_of(s, &ids);
+    let i = TransparencyInfo::of(&st.doc, ids).with_mesh_point(point);
     Ok(json!({
         "ids": i.ids.iter().map(|id| id.0).collect::<Vec<_>>(),
         "opacity": i.opacity,
diff --git a/crates/engine/src/cmd/paint.rs b/crates/engine/src/cmd/paint.rs
--- a/crates/engine/src/cmd/paint.rs
+++ b/crates/engine/src/cmd/paint.rs
@@ -68,7 +68,7 @@ pub fn specs() -> Vec<CommandSpec> {
             "Transparency",
             ["Window", "Transparency"],
             None,
-            "{ids?|id?, opacity?: 0..100, blend?: name, isolate?, knockout?: \"on\"|\"off\"|\"neutral\"|bool (true = on, false = neutral), knockoutShape?: bool, item?: appearance item index|null, target?: \"object\"|\"contents\", aligned?: bool (index and item are rows of the first target's stack: each other target edits its equal one, as the Appearance panel does for a mixed selection)} for `ids`, the selection, or the object whose opacity mask is being edited; opacity and blend go to the targeted fill/stroke item (omitted: the Appearance panel's active item, else the objects)",
+            "{ids?|id?, opacity?: 0..100, blend?: name, isolate?, knockout?: \"on\"|\"off\"|\"neutral\"|bool (true = on, false = neutral), knockoutShape?: bool, item?: appearance item index|null, target?: \"object\"|\"contents\", aligned?: bool (index and item are rows of the first target's stack: each other target edits its equal one, as the Appearance panel does for a mixed selection)} for `ids`, the selection, or the object whose opacity mask is being edited; opacity and blend go to the targeted fill/stroke item (omitted: the Appearance panel's active item, else the objects; a gradient mesh point last clicked with the Mesh tool or Direct Selection takes the opacity itself)",
             has_doc,
             transparency
         ),
@@ -599,6 +599,14 @@ fn focused_mesh_point(s: &Session) -> Option<(NodeId, usize)> {
     Some((NodeId(pt.get("id")?.as_u64()?), usize::try_from(pt.get("index")?.as_u64()?).ok()?))
 }
 
+/// The focused mesh point (see [`focused_mesh_point`]) with its opacity, when `ids` is just the
+/// gradient mesh it belongs to.
+pub(crate) fn focused_mesh_point_of(s: &Session, ids: &[NodeId]) -> Option<(NodeId, usize, f32)> {
+    let (id, index) = focused_mesh_point(s).filter(|(id, _)| ids == [*id])?;
+    let NodeKind::Mesh(m) = &s.doc().ok()?.doc.node(id)?.kind else { return None };
+    Some((id, index, m.points.get(index)?.opacity))
+}
+
 /// A type run's stroke; a painted stroke on a run without one gets 1 pt.
 fn set_run_stroke(style: &mut CharStyle, paint: Paint) {
     if !paint.is_none() {
@@ -742,6 +750,19 @@ fn transparency(s: &mut Session, p: &Value) -> Result<Value> {
     q.remove("item");
     q.remove("id");
     q.insert("ids".into(), json!(ids.iter().map(|id| id.0).collect::<Vec<_>>()));
+    // The gradient mesh point last clicked with the Mesh tool or Direct Selection takes the
+    // opacity itself, so only the mesh around it fades (#4206).
+    if matches!(item, ItemTarget::Top)
+        && let Some(o) = q.get("opacity").and_then(Value::as_f64)
+        && let Some((id, index, _)) = focused_mesh_point_of(s, &ids)
+    {
+        q.remove("opacity");
+        let opacity = f64::from(super::opacitymask::percent(o));
+        s.execute("object.mesh.setPointColor", &json!({"id": id.0, "index": index, "opacity": opacity}))?;
+        if q.keys().all(|k| k == "ids") {
+            return ok();
+        }
+    }
     let ItemTarget::Item { index, explicit, aligned } = item else {
         return s.execute("object.setProps", &Value::Object(q));
     };
diff --git a/crates/engine/src/tests/editcolors.rs b/crates/engine/src/tests/editcolors.rs
--- a/crates/engine/src/tests/editcolors.rs
+++ b/crates/engine/src/tests/editcolors.rs
@@ -133,6 +133,52 @@ fn a_clicked_mesh_point_takes_the_fill_colour() {
     assert_eq!((after[0], after[3]), (before[0], before[3]));
 }
 
+fn mesh_opacities(s: &Session, id: NodeId) -> Vec<f32> {
+    match &s.doc().unwrap().doc.node(id).unwrap().kind {
+        NodeKind::Mesh(m) => m.points.iter().map(|p| p.opacity).collect(),
+        _ => panic!("not a mesh"),
+    }
+}
+
+/// The Transparency panel's opacity on a clicked mesh point fades that point alone, not the whole
+/// object (#4206).
+#[test]
+fn a_clicked_mesh_point_takes_the_opacity() {
+    let mut s = session();
+    let m = rect(&mut s, json!("#ff0000"));
+    s.execute("object.mesh.create", &json!({"rows": 2, "cols": 2})).unwrap();
+    s.execute("select.set", &json!({"ids": [m.0]})).unwrap();
+    let v = ViewInfo::default();
+    let click = |s: &mut Session, i: usize| {
+        let NodeKind::Mesh(g) = &s.doc().unwrap().doc.node(m).unwrap().kind else { panic!("not a mesh") };
+        let q = g.points[i].p;
+        for kind in [PointerKind::Down, PointerKind::Up] {
+            s.pointer(&PointerEvent::new(kind, q.x, q.y), v).unwrap();
+        }
+    };
+    let object_opacity = |s: &Session| s.doc().unwrap().doc.node(m).unwrap().opacity;
+    for (tool, point) in [("mesh", 4), ("directSelection", 4)] {
+        s.select_tool(tool, v).unwrap();
+        click(&mut s, point);
+        let undo = s.doc().unwrap().history.undo.len();
+        s.execute("transparency.set", &json!({"opacity": 30})).unwrap();
+        let o = mesh_opacities(&s, m);
+        assert!((o[4] - 0.3).abs() < 1e-6, "{tool}: the clicked point fades: {o:?}");
+        assert!(o.iter().enumerate().all(|(i, a)| i == 4 || *a == 1.0), "{tool}: the other points stay opaque: {o:?}");
+        assert_eq!(object_opacity(&s), 1.0, "{tool}: the object stays opaque");
+        assert_eq!(s.transparency_info().opacity, Some(30.0), "{tool}: the panel shows the point's opacity");
+        assert_eq!(s.doc().unwrap().history.undo.len(), undo + 1, "one undo step");
+        s.execute("edit.undo", &json!({})).unwrap();
+        assert!(mesh_opacities(&s, m).iter().all(|a| *a == 1.0));
+    }
+    // With no point focused the object takes the opacity.
+    s.select_tool("selection", v).unwrap();
+    s.execute("select.set", &json!({"ids": [m.0]})).unwrap();
+    s.execute("transparency.set", &json!({"opacity": 30})).unwrap();
+    assert!((object_opacity(&s) - 0.3).abs() < 1e-6);
+    assert!(mesh_opacities(&s, m).iter().all(|a| *a == 1.0));
+}
+
 #[test]
 fn blend_moves_a_mesh_to_the_blended_colour() {
     let mut s = session();