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The two dealers behind the new venture, which will run from January 19 to 27, are the long-established Manhattan Old Master drawings specialist Margot Gordon and Crispian Riley-Smith, the founder of Master Drawings in London.

The idea is based on the London format of carefully chosen, highly respected specialists in drawings from the 16th to the 20th century each holding simultaneous selling exhibitions.

Since a number of important dealers in this field work privately without a gallery, they will take over established galleries for the duration.

In London the exhibitions are in Mayfair and St. James’s and in New York they will be concentrated in galleries around Manhattan’s smart Upper East Side.

Some 15 dealers have already signed up, three of them from London. These are Mr Riley-Smith himself, Agnew’s and Trinity Fine Art.

American dealers participating include Margot Gordon, C.G. Boerner, Mary Lublin, Richard L. Feigen, David Tunick and Adam Williams.

As in London, the New York shows will coincide with the major Old Master sales when the museums buyers and top collectors are in town.

The idea of Master Drawings in New York was developed when Margot Gordon and Crispian Riley-Smith held a joint exhibition in New York earlier this year.

Mr Riley-Smith emphasises this is very much its own event and not just an extension of Master Drawings in London, which this year was held with 18 exhibitions from June 30 to July 7.

He told ATG: “Master Drawings in New York is built around their drawings sales and is very much tailored for the New York market.”

By David Moss