One art fair dies, another is born. After the collapse of the Grosvenor House fair, a new gathering–Masterpiece 2010–is emerging in London, Scott Reyburn reports on Bloomberg:

The event, planned for June 25 to June 30, 2010, will have 10,500 square meters (113,000 square feet) of exhibition space and will be run by art and antiques dealers, the leaflet said.

A temporary structure in the Royal Hospital Gardens, the site of the Chelsea Flower Show, is one of the possible venues, Simon Phillips, chairman of the Mayfair-based antiques dealer, Ronald Phillips, said in an interview.

“There are many sites we’re looking at,” Phillips said. “These are very early days. It’s all subject to planning permission. We want to create something different.”

The fair is being organized by five dealers, he said, declining to name the other members of the organizing committee. Ronald Phillips was one of the exhibitors at the now-defunct Grosvenor House fair in Park Lane.

“There is a real need for this event if London wants to be capital of the art world,” Phillips said. There had been “plenty of interest” from potential exhibitors, he said.

London Art Dealers Planning New Fair to Replace Grosvenor House (Bloomberg)