Old Masters ignore credit crunch

Here in the lowlands the St. Nicolas shopping spear has overwhelmed all expectations. As if their life depended on it the Dutch spent more than the previous year. Particularly popular were [flannel] pyjamas, house slippers and bathrobes. Could it be that the financial crises has a psychological effect on the buying habits of the consumer and stimulates the desire for the old, the stable and the reliable ?

It would most certainly seem so judging by the latest auction results. Recent auctions in London of old master paintings realised a total amount of £13,3 million through Sotheby's and 20,1 million through Christies. A portrait of the Italian banker Bindo Altoviti by Girolamo da Carpi  (1501 - 1556) fetched £ 3,1 million, a wee bit above the estimate of £ 200,000 tot £ 300,000. 'Portrait of a Lady as Flora ' by the Italian master painter Giambattista Tiepolo realised four times the expected estimate and changed owners for an amount of £ 2,8 million.

As our national soccer hero Johan Cruiff so strikingly stated : 'Every disadvantage has it's advantage'.


  • 5-12-2008

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