The demise of the 75-year-old Grosvenor House Art & Antiques Fair last year perhaps paved the way for a new summer showcase for objects of desire: Masterpiece Fair 2010 London.

Organizers plan to offer more than the traditional fair offerings of antiques and fine art. Wine, jewelry, contemporary design, and vintage cars are set to lure high-rollers to the former Chelsea Barracks venue.

Top-tier exhibitors range from Fabergé specialist A La Vielle Russie, of New York, to London clock purveyors Raffety & Walwyn.

Among the fair's highlights will be a 1932 Bugatti, which is being displayed by car specialist Coys with a price tag of £3 million. It may be bargain. A few weeks ago, a Bugatti, albeit the highly-desirable Art Deco-style 1936 Type 57SC Atlantic, reportedly sold for the mind-boggling price of $30 million.

Harry Apter, of 18th-century English furniture specialist Apter-Fredericks, says his must-see item will be a magnificent ormolu table covered in gilded bronze, tortoise shell, and ebony with a leather top.

Masterpiece Fair runs June 24 to 29. The month features a host of auctions, exhibitions, and events such as the relaunched London International Fine Art Fair at Olympia which opens for ten days beginning June 3.