Auctions: Masters of artful games
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.WATCH the Italian dealers cluster behind the rostrum at the end of this week's Old Master sales. They are there to make ridiculous offers for pictures that failed to sell, and then - British dealers allege - knock them out among themselves in a 'ring', which is still illegal even for after-sale buys.
The Italians were the big spenders at last year's Old Master sales, but the recession has finally caught up with them and they have become cautious, going only for works fresh to the market and scavenging for unsolds.
The fresh-to-the-market game is a dealers' fad which has nothing to do with quality and which you can play to your advantage, especially as the 'financially challenged', such as Lloyd's Names, are re- consigning investments well short of their intended holding period. A picture auctioned less than eight years ago may have 50 per cent cut off its estimate - just because dealers have seen it before.
However, at 20 years' distance from auction, a new breed of British Old Master dealer is re- classifying them as fresh. Watch out for these young 'uns. They are more active in drawings than paintings. Take the auction houses' advice about sale history and condition, then pitch into this buyers' market.
Sotheby's Old Master paintings are on Wednesday (10.30am), starring a pounds 3m Rembrandt. Christie's, bulging with re- consignments, is on Friday (11am). Phillips' sale, plenty in the low thousands, is on Tuesday (11am); Christie's South Kensington Thursday (2pm). Old Master drawings: Christie's Tuesday (12 noon) after a sale from the Woodner collection (10.30am). Phillips Wednesday (2pm). Bonham's combined paintings and drawings sale Thursday (11am).
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments