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The new venue, which is difficult to better for an art fair, has understandably galvanised the three directors of the event, London art dealers (and exhibitors) Rupert Maas and Julian Hartnoll, and professional organiser Richard Hodgson.

They are taking the opportunity to revitalise their fair with a completely new stand design, providing a more cohesive overall look more in line with contemporary living and featuring walls of neutral shades.

The range of wall felt colours has been rethought so they complement one another and avoid the clashing primary colours of previous years.

As in the past, the fair is fully booked with 55 exhibitors. All the stands are on one floor, so providing a more unified feel.

The world of watercolours is generally perceived as a quintessentially English tradition and there is still a considerable demand for the 17th and 18th century masters of the medium.

While many of these, accomplished as they are, exude a somewhat cosy feel, with an appeal, perhaps, to older collectors, in recent years this fair has broadened its scope and appeal and there is now a quantity of Contemporary work to complement the staples.

Indeed, new visitors might be surprised at the variety on sale.

There are 11 newcomers this year.

Among them are Guy Peppiatt, at his first fair since leaving Sotheby's watercolours department; Francis Iles from Kent, with the work of Bonnie Bews, a Canadian painter with a technique of painting on glass; W.H.Patterson, the West End gallery which last year was bought by Gladwell, and Hammond Smith, who brings work by Damien Hirst and Hockney.

Established names at the fair include Bourne Gallery, Abbott and Holder, William Drummond, Francis Kyle, John Spink and Christopher Wood.

The loan exhibition is entitled Kettle's Yard on Paper and features modern master drawings from the Cambridge museum which houses one of the most distinctive collections of 20th century art in the UK.

Admission is £10 with another £4 for the novel catalogue which is fashioned from postcards of exhibitors' stock.