The Old Master market is not dead (ctd.)
December 13 2016
Further to the Old Master sales this week, here's Colin Gleadell's overview of the market in The Telegraph:
[...] the sales revealed real strength in the under £1 million bracket, emphasising a flourishing market for the best work by minor masters.
In the select evening sales, demand was more robust than it has been for years, egged on by tempting estimates that had not been driven up by auction house competition for the properties. [...]
Whereas last year 34 per cent of Sotheby’s Old Masters were unsold, this year the damage was reduced to just 17 per cent, and the total £14.8 million, while not a big one, was above the pre-sale estimates. [...]
A figure Christie’s was particularly proud of was the low 19 per cent of lots unsold; it was one of their best ever, they said.
Still waiting for the New York Times' take on the sales...
In my photo above are a pair of portraits of George III and Queen Charlotte from the studio of Allan Ramsay. They sold at Christie's for what I thought was a bargain £37k inc. premium, having been estimated at £40k-£60k. The overall quality was better than the usual 'studio' fare with these portraits, which were merrily churned out by Ramsay's assistants.