Old Masters

Our Friday TOP! Every other Friday Artprice posts a theme-based auction ranking. This week we present the Top 10 auction results for works by Old Masters.

2010: the best results from Old Masters

The price index for Old Masters reached its peak of the decade in October 2008. Thus, like a number of other art segments, it benefited from the auction room euphoria that developed between 2004 and 2008 and then suffered from the meltdown as the economic crisis chased confidence out of the market. However, since the end of 2009 the major works withheld from auctions when the market was weak have started to return.

Old Master’s sales : Raphaël vs Wu Bin

After two days of prestigious Old Master’s sales in London, Christie’s posted a substantially higher revenue total than its rival Sotheby’s with $99.4m (vs. $20.7m) and four new historic records, including one for Raphaël that outclassed the record set by the Chinese artist Wu Bin.

Old Masters

Old masters are the pride of the most prestigious museums and a few collectors who are loathe to part with their masterpieces. A shortage of works, and the tempting prestige of a famous signature, means some paintings, but also drawings, are fetching spectacular bids. However, art lovers can turn to signatures that are less famous with the general public or drawings and prints that are everywhere on the market.

Old Master paintings: 17th century Northern Schools

In the segment of Old Master works, the Dutch and Flemish Masters command some of the highest auction prices. Peter Paul Rubens' Le Massacre des Innocents currently holds the auction record for this segment after fetching GBP 45 million on 10 July 2002 at Sotheby’s in London.

The top artists from the London summer auctions

Sotheby’s and Christie’s held their London Impressionist and Modern Art auctions on 23-24 June. With over 80% lots sold and a turnover of GBP 63 million at two evening sessions, the auctions were encouraging without being spectacular.

Rembrandt Van Rijn (1606-1669)

This master of the Dutch School, had a prolific output, with some 600 paintings, 300 prints and 1,400 drawings. But barely a dozen have been seen in auction rooms in the last ten years.

The rise and rise of old master drawings

Summary:

As the world’s stock markets plunge Rubens’ "Massacre of the Innocents" drives the art market through the roof

On Wednesday 10 July 2002, "The Massacre of the Innocents" by Peter Paul RUBENS became the most expensive old master painting ever sold at auction. It was only recently identified as a Rubens having previously been attributed to the lesser-known Jan van den Hoecke. Once the painting’s authorship was clarified a record price was clearly on the cards, particularly as Peter Paul RUBENS ’ index has been in stunning form lately: +540% since 1997.

Old master drawings catch fire: the Northern school example.

Drawing was formerly considered a secondary skill, of use mainly in preliminary studies for painting, sculpture or architecture. But enthusiasts were not long in seeing that such early sketches had their own expressive qualities and their own financial value. Among the main beneficiaries of recent price rises have been drawings by the Northern schools: up 67% since June 2001.