The Easel

Old Master’s Prices are No Laughing Matter

The boom in contemporary art is having an impact in the august area of Old Masters. Recent auction results have fallen well short of even “low estimates”. A dearth of great new pieces coming to market may be partly to blame but this may simply reflect pessimism about likely sale prices. “It’s naïve not to realise we are at a pretty serious moment … There has been a massive taste shift”