The more things change, the more they stay the same..Amidst all the fervor regarding the art market’s highs and lows-Old Masters, as they did during the last serious decline of the market in the early 90′s, are poised to emerge as a source of stability. The strong performance of Bonham’s premier OMP auction late last month, along with projections from dealers and auction houses alike look to give way to buying confidence in the months ahead. The embattled business of Sotheby’s, for one, will surely be looking to its sale of a Turner masterpiece from the collection of legendary dealer Richard Feigen as a source of respite in January.
Old Masters Bring Strong Prices at Bonhams’ October European Paintings Auction [Bonhams]
Investing in Old Masters in Economic Hard Times [Carol Vogel, NY Times]
[...] A showdown of Turner’s may be in the works, as these works go head to head with Sotheby’s star from its January auction, a Greek allegorical landscape by Turner from the collection of Richard Feigen, as reported by OMNP here. [...]