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Details are still hazy but it has been spoken of as a London trade initiative with Munich and London art dealer Konrad Bernheimer to the fore. Mr Bernheimer exhibits at top fairs in New York, Maastricht, Palm Beach and Paris.

The venue in Burlington Gardens was previously home to the Museum of Mankind and is very close to Bond Street and St James’s, the hub of the London art dealing scene.

No firmer dates than early June 2005, prior to Grosvenor House, have been announced and as yet the fair does not have a name.

It is intended that around 40 exhibitors from Europe and America will participate and the stock will comprise pictures, drawings and sculpture. However, no names have yet been announced.