Buyers are lining up to grab paintings and sculptures created by some of China's top artists, surprising many gallery owners at the Fifth Shanghai Art Fair.

The fair, which is currently being held at ShanghaiMart, was criticized in the past for not attracting enough buyers. That doesn't seem to be a problem this year, according to dealers.

"We have almost sold out all of the paintings in our exhibition booth today," said Gu Yongtang, the manager of Shanghai Grand Theater Gallery. He said paintings by famous artists have proven especially popular this year.

Vendors said buyers seem to believe works by bigger name artists will prove to be a good investment.

"Some buyers are not turned off by the costly price of works by the big names," said Zhu Xiaoqing, the manager of Tian Qing Gallery. "They think it is a guarantee of both the quality of the art and the investment."

A lot of galleries and artists were reporting strong sales at the fair, according to spokesman Wang Anwei.

"I just met a gallery owner from Taiwan who has sold two small sculptures. He wasn't prepared for the booming art market and regretted not charging a higher price."

One of the most talked about pieces at this year's fair, "New Goddess," has yet to attract a buyer. The bronze sculpture by French artist Armand Pierre Fernandez (1939-2005) is priced at 3 million yuan (US$371,140).

The annual art fair this year has attracted about 300 galleries from 16 countries and regions.