Old masters paintings fetched high prices during sales at Christie's and Sotheby's in London early in thus confirming a favorable trend for such pictures. On December 3rd in London, Sotheby's realised a total of £ 28,6 millions (US $ 47,46 millions; Euros 42,68 millions) with over 82% of the proposed lots sold, establishing a new European record compared with the £ 24 million turnover recorded in 1989 when the art market was at its height. Sotheby's was expecting £ 20 millions from this sale while the star of the sale was Venetian 18th Century artist Antonio Canal called Canaletto as expected.
Two Venice views representing the Molo from the Bacino di San Marco with the Piazzettaand thePalazzo Ducale and the Grand Canal facing East from the Campo di San Vio painted by Canaletto around 1720 fetched £ 5,061 millions (US $ 8,62 millions; Euros 7,62 millions) against a top pre-sale estimate of £ 6 millions. Such pair was however sold for £ 11 millions (US $ 18,9 millions; Euros 16,76 millions) on June 1st 1990 in New-York. Another pair of Venice views by Canaletto, painted around 1740, The Piazza San Marco and a
Canaletto, View of the Piazza San Marco
view of the Grand Canaland the Rialto bridge fetched £ 3,85 millions ($ 6,55 millions; Euros 5,79 millions). Both bids were regarded as quite excellent by professionals. Some outstanding results were recorded during this sale, notably for Dutch master Salomon Van Ruysdael (1603-1670) whose extensive river landscape dating from 1644 went for £ 2,3 millions ($ 3,79 millions; Euros 3,35 millions) against a top pre-sale estimate of £ 700,000. A painting showing a Waggoner and other figures halted at an Inn by Dutch painter Isaack van Ostade (1621-1649) fetched £ 2,2 millions (US $ 3,72 millions; Euros 3,323 millions) against a top pre-sale estimate of £ 800,000. A charming work by Flemish artist David Teniers (1610-1690) showing an elegant company before a pavilion in an ornemental garden sold for £1,1 million (US$ 1,86 million; Euros 1,646 million) against a top pre-sale estimate of £ 700,000. Meanwhile, a village scene by Flemish painter Pieter Brueghel the Younger (1564?-1638) realised £ 1,98 million (US $ 3,379 millions; Euros 2,987 millions) against a pre-sale estimate of £500,000-700,000. A New York dealer did not hesitate to pay £1,816 million ($ 3,1 millions; Euros 2,743 millions) for the Girl with a tambourine painted in 1637 by Spanish artist Jose de Ribera called lo Spagnoletto while a large composition by Italian master Carlo Dolci, Christ in the house of the Pharisee measuring 176,5 x 224,5 cm, went for £ 463,500 (US $ 793,000; Euros 701,000).
The sector of Old Master paintings has been largely dominated by dealers who have been buying most works offered at auction. They have their own well-tuned circuit for selling them back to choosy collectors.
Christie's organised their own sale in London but could not rival Sotheby's pricewise. The highest biddings recorded at their sale was for a small miniature on ivory measuring 6,5 x 8 cm by Spanish master Francisco Goya and showing two orientals which reached £ 639,500 (US $ 1,085 million; Euros 960,365 ) against a pre-sale estimate of £400,000-600,000.
Christie's also offered for sale two Venice views by Luca Carlevarijs which fetched £ 1,65 million (US $ 2,81 millions; Euros 2,484 millions). Venetian views proved to be much in demand since Bernardo Belloto's view of Vaprio and Canonica sold for US $ 991,500 (US $ 1,7 million; Euros: 1,509 million). A minor disappointment in this sale was for 17th Century Dutch master Jan Davidsz de Heem whose imposing still life only reached US $ 1,6 million (US $ 2,72 millions; Euros 2,408 millions) against a pre-sale estimate of £1,5-2,5 millions. One should note that such work sold for US $ 2,3 millions in June 1988 in New York.
Old masters paintings fetched high prices during sales at Christie's and Sotheby's in London early in thus confirming a favorable trend for such pictures. On December 3rd in London, Sotheby's realised a total of £ 28,6 millions (US $ 47,46 millions; Euros 42,68 millions) with over 82% of the proposed lots sold, establishing a new European record compared with the £ 24 million turnover recorded in 1989 when the art market was at its height. Sotheby's was expecting £ 20 millions from this sale while the star of the sale was Venetian 18th Century artist Antonio Canal called Canaletto as expected.
Two Venice views representing the Molo from the Bacino di San Marco with the Piazzettaand thePalazzo Ducale and the Grand Canal facing East from the Campo di San Vio painted by Canaletto around 1720 fetched £ 5,061 millions (US $ 8,62 millions; Euros 7,62 millions) against a top pre-sale estimate of £ 6 millions. Such pair was however sold for £ 11 millions (US $ 18,9 millions; Euros 16,76 millions) on June 1st 1990 in New-York. Another pair of Venice views by Canaletto, painted around 1740, The Piazza San Marco and a
Canaletto, View of the Piazza San Marco
view of the Grand Canaland the Rialto bridge fetched £ 3,85 millions ($ 6,55 millions; Euros 5,79 millions). Both bids were regarded as quite excellent by professionals. Some outstanding results were recorded during this sale, notably for Dutch master Salomon Van Ruysdael (1603-1670) whose extensive river landscape dating from 1644 went for £ 2,3 millions ($ 3,79 millions; Euros 3,35 millions) against a top pre-sale estimate of £ 700,000. A painting showing a Waggoner and other figures halted at an Inn by Dutch painter Isaack van Ostade (1621-1649) fetched £ 2,2 millions (US $ 3,72 millions; Euros 3,323 millions) against a top pre-sale estimate of £ 800,000. A charming work by Flemish artist David Teniers (1610-1690) showing an elegant company before a pavilion in an ornemental garden sold for £1,1 million (US$ 1,86 million; Euros 1,646 million) against a top pre-sale estimate of £ 700,000. Meanwhile, a village scene by Flemish painter Pieter Brueghel the Younger (1564?-1638) realised £ 1,98 million (US $ 3,379 millions; Euros 2,987 millions) against a pre-sale estimate of £500,000-700,000. A New York dealer did not hesitate to pay £1,816 million ($ 3,1 millions; Euros 2,743 millions) for the Girl with a tambourine painted in 1637 by Spanish artist Jose de Ribera called lo Spagnoletto while a large composition by Italian master Carlo Dolci, Christ in the house of the Pharisee measuring 176,5 x 224,5 cm, went for £ 463,500 (US $ 793,000; Euros 701,000).
The sector of Old Master paintings has been largely dominated by dealers who have been buying most works offered at auction. They have their own well-tuned circuit for selling them back to choosy collectors.
Christie's organised their own sale in London but could not rival Sotheby's pricewise. The highest biddings recorded at their sale was for a small miniature on ivory measuring 6,5 x 8 cm by Spanish master Francisco Goya and showing two orientals which reached £ 639,500 (US $ 1,085 million; Euros 960,365 ) against a pre-sale estimate of £400,000-600,000.
Christie's also offered for sale two Venice views by Luca Carlevarijs which fetched £ 1,65 million (US $ 2,81 millions; Euros 2,484 millions). Venetian views proved to be much in demand since Bernardo Belloto's view of Vaprio and Canonica sold for US $ 991,500 (US $ 1,7 million; Euros: 1,509 million). A minor disappointment in this sale was for 17th Century Dutch master Jan Davidsz de Heem whose imposing still life only reached US $ 1,6 million (US $ 2,72 millions; Euros 2,408 millions) against a pre-sale estimate of £1,5-2,5 millions. One should note that such work sold for US $ 2,3 millions in June 1988 in New York.
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