The TEFAF wind up continues with this preview story in The National that points to dealer Johnny van Haeften showing a “newly cleaned portrait of a woman at a clavichord by Gerrit Dou, which insiders say could bring more than $5m.” van Haften bought the picture in January for $3.3m which is a quick turnaround and profit if the dealer gets his price.
Meanwhile, Richard Feigen continues to feel the Contemporary art market is out of register to the Old Master market. But it is hard not to hear the hyperbole when he suggests that $4om is not a lot of money:
“There’s a lot of money out there. As people become uncertain about the currency markets or the securities markets, more and more money seems to be going into art as a haven,” said the New York dealer Richard Feigen, who will be selling a biblical scene painted by Anthony van Dyck for $3.5m.
“I don’t consider contemporary art, where you’ve had these wild prices, a very sound place to put it. What we call a lot of money in the Old Master market— say the $40m that the Getty Museum paid recently for a Turner – in the contemporary or modern market, that isn’t a lot of money.”
Old Masters at European Fine Art Fair draw beleagured investors (The National)
