Timed to precede the massive Art Asia show, Mr Durand-Ruel said he would be the first art dealer to hold a private Hong Kong exhibition - entry will be strictly by invitation - which will feature works from Masters such as Claude Monet, Gauguin, Renoir and Cezanne.

The exhibition-cum-sale is being hosted by Mr Durand-Ruel on behalf of Wildenstein and Company, considered the world specialist in 17th-century to 19th-century paintings with galleries in New York, London and Tokyo. If the sale goes well, Hong Kong will be next on its list of gallery openings.

Brothers Alex and Guy Wildenstein are the fourth-generation heirs of the gallery and are among the wealthiest men in Europe. Mr Durand-Ruel, a former engineer who comes from a long line of collectors, was vice-president of the New York gallery and now works as a consultant.

''The Wildensteins are not like the galleries one often finds in Asia where people come and go and are so transient. They are serious art dealers with a huge stock of old Masters, some of which are valued at US$25 million,'' said Mr Durand-Ruel.

The Wildensteins had not been easy to convince that the effort to reach the Chinese market would work.

Mr Durand-Ruel selected the pieces to go on sale.

''I thought it would be best to show paintings which did not require people to think too much about what they see. I also chose works which had a theme of race horses and race tracks to appeal to the Hong Kong love of gambling,'' he said.

Still, the prices of the individual works may deter even the most ardent art lover: a Gauguin painting is listed at $3.4 million, while the least expensive on exhibition will be a steal at about $140,000.

But is Hong Kong - noted for its love of subtle yet priceless Chinese art - ready for the rich, heady world of French Masters? The director of Sotheby's in Hong Kong, Ms Mee Seen Long, said pricing was a big factor.

Apart from the timing of the exhibition, other factors may be in Mr Durand-Ruel's favour. The art market is on an upward cycle, a time most newcomers enter the field.

''We know the Chinese buy big quantities of art at auction or privately, but it is primarily Asian art and jade. So we cannot be sure if the most important painters in the world like Renoir, Van Gogh and Picasso will appeal to the Chinese market. It's the sort of thing that either they like immediately or they don't,'' Mr Durand-Ruel said.

''Of course, if it works it will be fantastic. Look at New York, considered the capital of the art world, and see what that does for the image of the city. The success of the exhibition would give a great boost to Hong Kong's image, and would give it the cultural edge over other Asian countries.'' Hong Kong is known for its scarcity of collectors of fine European paintings, but Mr Durand-Ruel said it was a question of ''acquiring a taste''.

''They need to form a basis of comparison. After a while it is easy to see the difference and realise what is better or not as good.

''But they have to start somewhere. With all collectors it is the same - they buy one or two pieces and get more interested when they meet other collectors and start comparing notes. Then they buy more.

''They never buy their best pictures the first time. The first few years are all about self-education,'' he said.

The director of Christie's Swire in Hong Kong, Mrs Alice Piccus, said: ''There have not been any museums in Asia, outside of Japan, which show Western art. People are not familiar with Western artists - some names are very difficult to pronounce or remember.

''Definitely more education is needed to familiarise the potential collectors with Western art, different schools of paintings and market prices for the artists' works,'' she said.

Mr Durand-Ruel said 1997 was a good incentive.

''These are the sort of pieces that can easily be transported and sold anywhere in the world. Of course, in Hong Kong they have to look at it as a good investment as well. It is one of the few approaches they can relate to,'' he said.