HONG KONG— "Asia needs an international hub fair that is on its doorstep and on its terms. Hong Kong is the place to do this," says Magnus Renfrew, co-director of ART HK (Hong Kong International Art Fair), the second edition of which runs from May 14 through 17 at the Hong Kong Convention and Exhibition Centre. This year the event has added Art Futures, a section where young gallerists present emerging artists.

The 110 participating dealers, up from 101 last year, hail from 24 countries. One prominent newcomer is the New York-based Gagosian Gallery, which is bringing work by notable contemporary artists like Mark Grotjahn and Aaron Young, as well as pieces by such postwar and contemporary stars as Richard Prince and Andy Warhol. Also making their Hong Kong debuts are London’s White Cube, which is presenting sculptures by Antony Gormley, and fellow Londoner Lisson Gallery, which has paintings and computer-generated films by Julian Opie. Arario, of Beijing, New York and Seoul, is returning to the fair with a group of Asian artists who include Fang Lijun and Miao Xiaochun. Another ART HK veteran, Contrasts, of Shanghai and Beijing, is showing Chinese artists — the watercolorist Yi Zhou among them — as is Arndt & Partner, of Berlin and Zurich, which is bringing paintings by Shi Xinning priced at around €28,000 to €70,000 ($38-95,000). Galerie Michael Schultz, with locations in Berlin, Seoul and Beijing, has Outlays, Hisssssssss, 1984-85, painted collaboratively by Warhol and Jean-Michel Basquiat for $2.3 million; Slough (Anagram), 1995, a work on paper by Robert Rauschenberg for $550,000; and Red Dog for Landois, 1986-87, a sculpture by Keith Haring, for $250,000. London’s Rossi & Rossi is offering photographs by Caroline Chiu, priced from $8,000 to $15,000, along with a mixed-media work showing a violin player by the Tibetan artist known as Nortse for $20,000.

"Insider Art Fair" originally appeared in the May 2009 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's May 2009 Table of Contents.