Although Tokyo is a major world city, its contemporary art scene lacks the allure of its peers. Japanese interest in contemporary art is growing, though, as evidenced by the record 50,000 visitors at last year's Art Fair Tokyo. However, sales remained at the 2009 level, a fraction of what big art fairs abroad rake in.

Part of the problem — along with conservative sponsors and high costs — has been the fair's formula, which is based on the original Armory art fair in New York City. That fair mixed antiques, modern and contemporary art all under one roof. Organizers there eventually set up separate venues after contemporary art saw an increase in demand in the early 2000s. Now, along with Art Basel in Switzerland and the Frieze Art Fair in London, The Armory Show is considered one of the world's top contemporary art fairs.

In Tokyo, where such fairs have come and gone with mixed results, G-tokyo has emerged to fill the void. Its exclusive-boutique appeal and prime Roppongi Hills setting proved to be a winning combination when the inaugural fair was held last year. Most of the 15 top Tokyo galleries that took part recorded vibrant sales.