Old master drawings catch fire: the Northern school example. [07/04/2002]
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.
These drawings made spectacular gains in 1999, rising
more than 130% between June and December, thanks largely
to the auctions held in Amsterdam on the 9 & 10
November that year. Although Christie's and Sotheby's
usually keep their best pieces for New York, the autumn
sales in Amsterdam still bring together a vast array
of lots and can sometimes trigger a leap in prices,
with a few records along the way. In November 1999 a
gouache by Cornelis TROOST was sold for NLG (Dutch guilders)
310,000 (EUR140,672), more than six times its low estimate.
The next most expensive Troost drawing since 1997 had
gone for just EUR5,793.
The surge in prices in winter 1999 was confirmed at
the start of 2000 with two spectacular sales of REMBRANDT VAN RIJN
drawings: for USD3,400,000 and USD2,300,000 at the same
January auction in New York.
After a fallback in prices in late 2000 and early 2001,
perhaps a correction to the massive gains of 1999, Northern
school drawings have now returned to the fore. Prices
have gained nearly 40% since January 2002. At the
same time, the bought-ins ratio has also risen, to 37.9%
in 2001, as high-quality old master drawings have become
harder to find. Collectors have become more selective,
particularly as this type of work tends to be fragile.
A good state of preservation, high-quality drawing and
an expressive line are often more crucial in sales than
a big-name artist. One implication is that drawings
by second-rank artists can command higher prices than
those of recognised masters.
On the 9 & 10 July 2002, London drawing-enthusiasts
can choose from a selection of handsome sketches at
Sotheby's and Christie's. The Christie's auction
features some twenty drawings from the Northern school,
including a major ink work by David VINCKBOONS , "Petrus Plancius instructing Students in the Science of Navigation", (The Light of Navigation),
expected to fetch GBP 50-60,000. Note, too, a drawing
by Herman SAFTLEVEN whose price index rose 85% between
2000 and 2001. A day later Sotheby's presents a number
of studies for "The Massacre of the Innocents,
after Rubens" by Van Dyck (Anthonius VAN DYCK ), a taster
for the exceptional Rubens canvas that goes under the
hammer that same evening at Sotheby's.
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