Old Masters translate as modern sellers
Filed under: Uncategorized — Alan @ 7:00 am
you take a look at the Old Masters paintings that have sold over the year it may seem as if older collections have the monopoly on sales.
This is due to the fact that in last week alone all three major auction houses sold collections from the Old Masters for around £96m, which is way over the mark of £70 that Old Master sales accumulated to during the month of June in London.
Some of the price tags of Old Masters paintings are astounding by themselves as well with a Rembrandt painting bringing in about £20m, a Van Dyck portrait for £8m, and a Rapheal drawing for around £28.9m. This is even more remarkable given the fact that the economy is still considered to be recovering.
However, if you look a little bit more into the sales figures from the week you will see that for the most part it was the high selling paintings mentioned above that raised the figures with the rest of the auction collections not faring as well. In fact, they account for about 66% of all the sales for the week even though the collections on auction totalled up to around one thousand.
The reason for the lacklustre numbers for the other 1,000 pieces is partially due to the fact that the supplies of mid range paintings was thin and because the trade in general does not have as much available money to invest with as it is used to.
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