Old Masters in London

This week there will be several Old Master sales in London. Expectations are the sales will do better than the recent contemporary sales as Old Masters are considered more traditional and stable. They dont appreciated as quickly as some of the contemporary art, and hopefully they dont depreicaite as fast either.

The Wall Street Journal is reporting :In the last major art-market slowdown, in the early 1990s, old masters were "affected, but less," says Alex Bell, world-wide head of old master paintings at Sotheby's. He says he expects buyers to be more selective with marginal pieces, which are harder to sell, but for top-end works to still do well." The main attractions at Christie's on Dec. 2 will be two striking Venetian views by Canaletto: "The Piazzetta di San Marco, Venice, looking west, with the Libreria" (estimate £4 million-£6 million) and "The Grand Canal, Venice, looking north-west from the Ca' Corner to the Ca' Contarini degli Scrigni, with the campanile of Santa Maria della Carità" (estimate: £3 million-£5 million). The two paintings are appearing at auction for the first time ever.

The Christie's sale is on Dec 2nd and 3rd and the Sotheby's sale is on Dec 3rd and 4th. Stayed tuned to the AW Blog this week as we track the results.