The 42nd international fair for modern and contemporary art has opened its doors in the western German city of Cologne. Billed as the world's OLDEST art fair, Art Cologne was also for many years the world's LEADING art fair. But with competition on the increase, criticism has been growing that Art Cologne can no longer compete on the global market. Only 150 dealers are attending this year, just half the number the fair boasted in its heyday. Now organisers are trying to revamp Art Cologne's image - including attracting affluent Asian collectors and appointing a hip new director.