Colin Gleadell offers a potential lesson in how art history affects the prices of some historical artists. Taking his cue from Christie’s who connected the current craze for the so-called process painters like Lucien Smith, Parker Ito, Oscar Murillo and more with the record price achieved by a Antoni Tapies work in London suggesting that collectors were revaluing Tapies work in the light of the emergence of the current crop:

The craze for young “process” painters is having a knock-on effect on the market for older-generation works. At Christie’s, a record was set for the Spanish artist Antoni Tapies, when his mixed-media painting Large Ochre Incisions (1961), resembling rough wall graffiti, sold for a record £1.65 million.

Market News: Masterpiece a big seller (Telegraph)