One of the world's most important and largest art fairs is underway in New York this week.

The 2015 Art Show, hosted by the Art Dealers Association of America, is an annual gathering of heavyweight art collectors, patrons and museum principals, most flush with cash and ready to buy.

According to Adam Sheffer, The Art Show Chairman, even the winter storm didn't dampen attendance, or sales.

"While inclement weather may be in season, there was no shortage of sales last night.Those serious about art were not deterred from coming early, staying late and taking the time to speak with our dealers about the extraordinary works on view. Strong sales were reported across many genres, from Fernand Leger to Tracey Emin."

Notable attendees at Tuesday night's Gala Preview included Wall Street veterans Henry Kravis, Ronald Lauder, Donald Marron,Alexandra Lebenthal and Byron Wien.

Wien,Vice Chairman, Blackstone Advisory Partners, told CNBC's "Power Lunch" about his eclectic collection. "I am drawn to African tribal art, nautical and maritime historical artifacts. I love. It. None of it is particularly popular or trendy, but it speaks to me. I love items that people once made with their hands, that worked and used them pieces in everyday lives."

ADAA's The Art Show continues throughout the week in New York.