Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Old Master Rollercoaster

December 15, 2009 by Marion Maneker

With all the talk of the value of Old Master paintings as a hedge against inflation because their worth has been proven, the Economist offers a compelling lesson in the vagaries of art market valuations with the story of the just sold Domenichino that achieved £9.2m at Christie’s:

The long history of Domenichino’s “Saint John” offers a salutary lesson in the vagaries of the art market—and of taste. In the 18th century, this picture was one of the most expensive on record. In the midst of the Napoleonic wars it was taken to London, where it was sold to Richard Hart Davis, a member of Parliament.

In 1884 it was put up for sale by his grandson, and bought in at a bid of 700 guineas. In 1899 the next generation tried again to sell it, once more without success; on that occasion it was bought in at 100 guineas. Subsequently, it was sold to Colnaghi, a firm that now belongs to Mr Bernheimer. Colnaghi paid just 70 guineas for the work. In the century since, the price has risen 100,000 times. But it may never each that height again.

Opportunity Knocks (Economist.com)

More from Art Market Monitor

  • Louvre Abu Dhabi Announces Acquisition of £9.48m Rembrandt StudyLouvre Abu Dhabi Announces Acquisition of £9.48m Rembrandt Study
  • Christie’s Has Richard Feigen Collection in MayChristie’s Has Richard Feigen Collection in May
  • Christie’s Sells £11.4m Leyden Drawing to Benefit Rugby SchoolChristie’s Sells £11.4m Leyden Drawing to Benefit Rugby School
  • Getty Buys Previously Unknown Quentin Metsys PaintingGetty Buys Previously Unknown Quentin Metsys Painting
  • Christie’s to Sell Shickman Collection Led by Spanish Still LivesChristie’s to Sell Shickman Collection Led by Spanish Still Lives
  • Sotheby’s Has Two Caspar David Friedrich Works in DecemberSotheby’s Has Two Caspar David Friedrich Works in December

Filed Under: Micro-markets Tagged With: Old Master

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor