Old Masters in 2008

OMNP’s 2008 Year in Review

The success of Tiepolo's "Flora" set an optimistic barometer despite economic uncertainty

Jean-Antoine Watteau, " La Surprise" fetched a robust $24.3 million USD at Christie's London in July

A collosal mistake of attribution by the Prado

"Disasters of War" exhibited in the white cube space of the Peter Blum gallery

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OMNP details the recent year that was Old Masters news, sales, and exhibitions.

News Highlights

Christie’s and Sotheby’s Old Master auctions are successes in spite of the art market’s recent struggles

England attempts to save its own “Mona Lisa,” Titian’s “Diana and Acteon,” from being sold on the open market, by raising the funds to meet the discounted price offered to the nation of £50m

England succeeds in saving Ruben’s “Apotheosis of James I” for the nation

Louvre curator discovers new Leonardo drawings on the back of “The Virgin and Child with Saint Anne”

Surprising discovery, surprising sales results for Watteau’s “La Surprise”

The Prado confirms that “Collosus” is not an authentic Goya

The aftermath of the Salander O’Reilly collapse

Notable Paintings on the Market

Jean-Antoine Watteau, “La Surprise.” Sold for £12,361,250, at Christies London, 8 July, a record for the artist.

Frans Hals, “Portrait of Willem Van Heythuysen, Seated on a Chair and Holding a Hunting Crop.” Sold for £7,097,250, at Sotheby’s New Bond Street, 9 July.

This work highlighted Sotheby’s July sale, easily clearing it’s high estimate to sell at approximately £7m.

Lucas Cranach the Younger, “The Conversion of Saint Paul,” unsold at Sotheby’s New Bond Street, 9 July. 120-180k for an exquisite Cranach? Still searching for an explanation as to why this painting was passed upon.

Flemish Master, “Hunting scene with Dog and Raptor,” unsold at Lempertz Cologne, Germany, 1 October

Carrying an meager €1800 estimate, OMNP seriously debated whether this was a sleeper that got away, possible by the hand of Frans Snyders, whereby a similar work by him would be priced in the high six figures.

Giambattista Tiepolo, “Portrait of Lady as Flora,” sold for $4,227,780, at Christie’s London, 3 December

This recently discovered portrait sold for over four times its pre-sale estimate, and was the highlight of the market’s anchored performance amidst the financial crisis.

Girolamo Francesco Maria Mazzola, called Parmigianino “A Seated Young Woman Looking to the Left; A Seated Woman Holding a Child.” Sold for £97,250, at Sotheby’s New Bond Street, 9 July.

This drawing by the Mannerist legend was given a paltry £8,000—12,000, leaving OMNP to wonder if it would fly under the market’s radar. Apparently not.

Adriaen Coorte, A Vanitas Still Life, with a Skull, an Hourglass, and Oil Lamp, a Conch Shell, a Closed Book, a Recorder, a Musical Score, together with some scattered Ears of Corn, All upon a Stone Ledge,” unsold for at Sotheby’s New Bond Street, 9 July.