Last week, Colin Gleadell made an excellent point about the dangers of buying art straight out of the studio:

Liverpool pools heir James Moores was having a spring-clean at Bonhams last week when a number of large contemporary works he had acquired through local exhibitions over the years – New Contemporaries or the John Moores Prize – were on sale from £600 to £3,000 each. Sad to report that few, even those by well-known artists such as DJ Simpson, Sue Arrowsmith and Martin McGinn, were sold. Moores should take a tip from Saatchi and donate his unwanted material to local museums.

Market News (Telegraph)