Moving Image, the newest addition to New York's packed Armory Week, aims to solve a problem that has been bothering dealers for years: When collectors are zipping in and out of convention centers trying to squeeze in as much art as possible, how can time-based artwork like video possibly stand a chance against flashier art that offers instant gratification?

The solution, according to dealers Ed Winkleman and Murat Orozobekov, is simple: don't try to compete. The two men, the directors at Winkleman's eponymous gallery, decided instead to found their own fair, devoted exclusively to video. It's only the second fair in the United States to attempt such a feat, following in the footsteps of DiVA, which shuttered in 2009.

Running from March 3 to 6, Moving Image has already attracted several high-profile collectors. England's Anita Zabludowicz was spotted engrossed in Galerie Gregor Staiger's Shana Moulton film and Loop video fair founder Jean-Conrad Lemaitre flew in from Paris specifically for the event. So far, however, such powerful interest hasn't translated into brisk business. Despite a crowded kick-off party last night, there were no substantial sales to report by early afternoon on the fair's second day.

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Comprised of 22 galleries — half local, half European — the invitation-only Moving Image offers a viewing experience distinct from other art fairs. Taking over the airy Waterfront New York Tunnel on 11th Avenue in Chelsea, it rejects traditional booths — or, as Winkleman referred to them, "cages" — in favor of an entirely open floor plan. Winkleman said the fair's layout was partly inspired by the boothless and easy-to-navigate Independent fair (whose founder, Elizabeth Dee, was on the Moving Image selection committee) as well as the Seven Art Fair in Miami, another Winkleman brainchild launched late last year. "It's really like an exhibition of videos more than an art fair," said exhibitor Photi Giovanis, director of Callicoon Fine Arts.

The fair is divided into two parts: The front is devoted to installations of various sizes while the back displays single-channel videos on a series of identical flat-screens. (They cost galleries $5,000 and $2,000, respectively.) The building's landmark status made for some creative installation techniques. Screens hang from parallel I-beams in part because installers were prohibited from drilling holes into any of the walls. Eye-catching works include P.P.O.W.'s early David Wojnarowicz silent film "Heroin" and Participant's installation of Glen Fogel's massive, much-lauded five-channel video, "With Me... You." Fogel's slow, QVC-style film of rotating family wedding rings is priced at $62,500 — though collectors can purchase individual projections for $14,000 each.

The new fair design is certainly more viewer-friendly than the typical, claustrophobic booth setup. Videos with sound are interspersed with silent works and films accompanied by headphones in order to avoid the cacophony that is often part and parcel of these sorts of installations. Small white stools situated in front of the screens offer viewers a place to sit should they want to watch an entire film. "We're trying to experiment with presentations that encourage people to take the time," Winkleman told ARTINFO. "There was a need among galleries for an opportunity to present video in a new way."

This novel presentation may not facilitate commerce as well as it does viewing, however. The spare layout leaves no space for gallerists to stand (unless they chose to hover awkwardly by their screen), so most hang out in the exhibitor lounge adjacent to the hall — if they are present at all. Interested customers must follow up with gallerists by phone or e-mail, listed on the information plaques on the wall. The exhibition style has been a selling point for galleries like Pace, James Cohan, and Ronald Feldman, whose staffers are busy manning booths at other fairs and appreciate the laissez-faire aspect. "It lets the work speak for itself," said Tatjana Pieters, director of the eponymous Belgium gallery. "The fair for me was more like a way to be in New York and be able to engage with people in a casual way."

Some participants worry, however, that the structure could stunt sales. "It might lead to fewer possibilities," said Zuzanna Janin of Local 30 gallery in Warsaw. "A collector could walk by and like something, but then see something else and keep going, and I wouldn't know." Suggesting the fair install armchairs for the dealers on the floor next year, she added, "I think it's more of an experiment... but I still have to cover my costs."

Although it remains to be seen if Moving Image is a viable moneymaker, viewers and exhibitors alike seem to view it as a welcome change in atmosphere. "It does require people to be more proactive about making the contact," said Giovanis, "but it's really more like hanging out."