台北國際藝術博覽會在 921 大地震國殤中堅持舉辦，首次移師台北世貿中心二館舉行，由畫廊協會理事長洪平濤兼任台北藝博召集人、執行長黃承志、副執行長錢文雷、秘書長陸潔民共同執行。由於國際金融風暴及景氣低迷，藝術產業備受衝擊，外國畫廊參展意願顯著降低，又逢 921 大地震，國外畫廊紛紛退展，台灣參展畫廊 39 家，國際畫廊 4 家，招商過程極為艱辛。大會邀請秘魯抽象表現主義大師吉茲羅（Fernando de Szyszlo Valdelomar）、旅日的翁倩玉女士蒞臨會場舉辦個展，亦與北美館合力展出「第九屆國際版畫及素描雙年展」。為協助 921 震災，台北藝博第一次與佛教慈濟基金會合作，於藝博會現場舉行「921 希望再建工程慈善義賣」，拍賣所得全額捐贈，做為災區學校重建基金。
The TAIPEI ART FAIR persisted in holding the event despite the national mourning following the 921 earthquake. The fair made its first move to Hall 2 of the Taipei World Trade Center. Mr. Hong Pingtao, the chairman of TAGA, also served as the convener of the TAIPEI ART FAIR, with Mr. Huang Chengzhi as the executive director, Mr. Qian Wenlei as the deputy executive director, and Mr. Lu Jiemin as the secretary-general. Due to the international financial crisis and economic downturn, the art industry was heavily impacted, and the willingness of foreign galleries to participate significantly decreased. Additionally, with the occurrence of the 921 earthquake, many foreign galleries withdrew their participation. There were 39 Taiwanese galleries and 4 international galleries participating, and the process of attracting exhibitors was extremely challenging. The event invited Peruvian abstract expressionism master Fernando de Szyszlo Valdelomar and Ms. Judy Ongg, who resides in Japan, to hold solo exhibitions at the venue. The fair also collaborated with the Taipei Fine Arts Museum to present the "9th International Print and Drawing Biennial Exhibition." To assist with the 921 earthquake recovery efforts, the TAIPEI ART FAIR cooperated with the Buddhist Tzu Chi Foundation for the first time. They organized a charity auction called the "921 Hope Reconstruction Project Charity Sale" at the fair, with the proceeds fully donated to the reconstruction fund for schools in the disaster-stricken areas.
