Affordable Art fair held in Beijing

An art fair in Beijing is providing an inexpensive alternative to the increasingly high-priced contemporary Chinese art market. More than 500 artworks are currently on display at the Affordable Art Beijing fair.

With a price cap of 10,000 yuan, it's a good chance for art lovers with a budget to purchase a piece of contemporary art. Within an hour of the opening, organizers say more than 200 people visited the exhibition, and about 300,000 yuan changed hands.

An art enthusiast from Hong Kong was the first to pull out his wallet for a painting by artist Sheng Qi.

Jackson Tang said, "I was told that his paintings can go as high as 50,000 RMB, and it's basically one fifth of the price."

Another exhibition-goer, who chose to remain anonymous, said he had his sights on another piece and came early to make sure he got it.