The Hong Kong International Art Fair (ART HK) is cementing its reputation as one of Asia’s top contemporary-art events. For its third edition, running May 27 through 30 at the Hong Kong Convention and Exhibition Center, it has lured an impressive roster of 150 galleries — around 30 more than in 2009 — from 28 countries.

"The economic situation is much stronger in Asia than it was last year, and as a result we expect more discretionary spending," says fair director Magnus Renfrew. "We’re working hard to nurture the collector base at every level, and there is work on sale from as little as $1,000 right up to $10 million."

Among the exhibitors are London’s White Cube, which is offering paintings by Gary Hume and Sarah Morris; Galerie Lelong, of Paris and New York, which has color prints by Catherine Yass; and New York’s Lehmann Maupin, with an installation by the Korean artist Do Ho Suh. China is well represented, with Beijing Commune, Boers-Li, and Longmarch, all of Beijing; and Shanghart and Eastlink, of Shanghai. Hong Kong’s Hanart TZ Gallery will have delicate ink drawings by China’s Qiu Anxiong.

Dealers are optimistic that the fair will draw serious buyers. "It wasn’t clear how art hk 10 would develop," says first-time participant Steven Harris of Hong Kong’s m97, "but the convenience of importing and exporting art into the city and its tax-free status are conducive to making it a very successful fair."

"Best of the West Head East" originally appeared in the May 2010 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's May 2010 Table of Contents.