Godfrey Barker usually has some tart commentary on the art market’s doings but after last week’s Old Master sales he’s become a matter-of-fact cheerleader. Here’s his recent commentary:
Statistics from Art Market Research show Old Masters are matching the prices of January last year and preserve most of the gains of the 2005-08 art boom.
At Sotheby’s, Pieter Breughel the Younger’s Massacre of the Innocents sold for £4.63million – nearly double the estimate. Seven bidders battled for Jusepe de Ribera’s The Torture of Prometheus, driving the price to £3.85 million, way beyond the £1.2million estimate.
“Some people believe the art market is no longer the same,” said George Gordon, Sotheby’s Old Master expert. “We can reassure them that it pretty much is.”
Old Masters Art Sale Defies the Downturn (This Is London)