“Long winter for Old Masters” headlined the Financial Times’ Collecting section this past weekend, referring to the bad performances of London Old Master auctions the previous week. Although Georgina Adam is right in making this statement, what isn’t mentioned is the serious lack of good quality paintings on offer, the ridiculously high estimates given by auction house experts, and a headline lot failing to sell because of authenticity concerns.
Look at this pair of Casta paintings (see below for info on Castas) that fetched $641,000 at Sotheby's Latin Art Modern & Contemporary Sale! They were estimated at $80,000-120,000, which was very modest but to reach this level is really remarkable.
There has been a frenzy of cultural activities in London this past few weeks with Fashion Week, BAFTA and Brit Awards making the city a buzzing hot spot for creative industries. But my eyes stay focused on art and after being away for several weeks, I am ready to catch up with the exhibitions in London.
