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state of the art market old masters and neo old masters 2327212

Artnet News, in collaboration with Morgan Stanley, analyzed auction data from the Artnet Price Database to assess the state of the European Old Master market since 2018. The investigation explores how efforts to contemporize Old Masters—through juxtapositions at art fairs like TEFAF and Masterpiece London, and gallery shows such as David Zwirner's 'Endless Enigma'—have correlated with market trends for Contemporary and Ultra-Contemporary artists whose work is visibly influenced by classical European art. The report also examines the impact of living artists inspired by Old Masters, suggesting that restricting analysis to historical works alone may underestimate their ongoing influence on the art market.

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The 2025 edition of TEFAF Maastricht has opened with 277 dealers from 24 countries, showcasing 7,000 years of art history despite significant geopolitical instability in the Middle East. While the fair remains a premier destination for Old Masters and high-end antiques, exhibitors are navigating logistical hurdles caused by regional conflicts and airport closures in major transit hubs like Dubai.

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A Sotheby's single-owner sale of 55 Old Masters works from the collection of Jordan and Thomas A. Saunders III on May 21 achieved $64.7 million, falling well short of the $80–120 million estimate. The evening sale had a 58.5% sell-through rate, with 17 lots unsold and two withdrawn; a subsequent day sale on May 22 saw a similar 58.3% rate. Top lots included Francesco Guardi's Venetian views at $10.5 million, a record $8.8 million for Jan Davidsz. de Heem, and a record $7.37 million for Frans Post. Despite these highlights, the overall performance was dampened by high estimates, shifting collector tastes, and the prevalence of guarantees.

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The Nivaagaard Collection, a small art museum in rural Denmark, has acquired Artemisia Gentileschi's painting *Susanna and the Elders* (1644–48), marking the first work by the Italian Baroque artist to enter a Danish institution. Director Andrea Rygg Karberg secured the painting from a private collection via New York–based Old Masters dealer Nicholas Hall, beating dozens of international galleries. The acquisition is described as the most important addition to the museum since its founding in 1908.

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American con artist Thomas Doyle, 68, has been charged with wire fraud for allegedly defrauding London gallery owner Patrick Matthiesen over a Gustave Courbet painting. Doyle claimed to manage a family trust with billions in assets and offered to broker the sale of Courbet's 1844 oil painting *Mother and Child on a Hammock* without commission. Instead, he delivered the work to his partner Shalva Sarukhanishvili, who sold it to Jill Newhouse Gallery for $115,000; the gallery then resold it to collector Jon Landau for $125,000. Matthiesen received no proceeds and filed a lawsuit against Doyle, Sarukhanishvili, Jill Newhouse Gallery, and Landau. Doyle has a prior fraud conviction involving a Corot painting and was described by a judge as a "career criminal."

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The Matthiesen Gallery in London has filed a lawsuit in the Southern District of New York alleging fraud, breach of contract, and other counts over a Gustave Courbet painting, *Mother and Child on a Hammock*. The gallery claims that Thomas Austin Doyle, a convicted con man, orchestrated a scheme to defraud director Patrick Matthiesen, selling the painting—valued at $650,000—through artist and dealer Shalva Sarukhanishvili to Jill Newhouse Gallery for $115,000, which then sold it to top collector Jon Landau for $125,000. The lawsuit also names Landau, who allegedly viewed the work multiple times at TEFAF fairs knowing its retail price, yet refuses to return it. Doyle has a long criminal history, including prior convictions for art fraud and theft.

Repeat art fraudster arrested for stealing Courbet painting

London gallery owner Patrick Matthiesen consigned a Gustave Courbet painting, *Mother and Child on a Hammock* (1844), to the Nicholas Hall Gallery in New York for Tefaf Maastricht 2023, listed at $650,000. After it failed to sell, Matthiesen was contacted by a man calling himself Thomas Doyle (also A.J. Doyle), who claimed to be a former US Air Force pilot, government contractor, and art dealer with family ties to Doyle Auctions. Despite Doyle having 11 prior fraud convictions—including stealing a bronze Degas statue in 2007—Matthiesen was convinced by artworks Doyle sent for inspection, including works attributed to El Greco, Rubens, and a Michelangelo drawing. In 2024, Doyle borrowed the Courbet to show a potential buyer and never returned it. Doyle has now been arrested for the theft.

Could 17th-century Italy provide a useful model for today’s challenging art market?

An exhibition at Nicholas Hall Gallery in New York, titled "Beyond the Fringe," explores the understudied early art market of 17th-century Italy, featuring 30 works on loan from public and private collections. The show highlights how barbers, tailors, innkeepers, and other tradespeople became part-time art dealers, while a decentralized network of collectors and middlemen emerged alongside foreign artists in Rome, such as the Bentvueghels, who produced new genres like landscape and genre scenes. The exhibition and its catalogue, with new research by art historians Patrizia Cavazzini and Caterina Volpi, trace the rise of art as an alternative asset class independent of traditional aristocratic and ecclesiastical patronage.

From Mondrian to Man Ray, Here Are the Best-Sellers at Auction So Far This Year

The article analyzes the best-selling artworks at auction in the first half of 2025, covering Old Masters, Impressionist and Modern, and Postwar categories. Notable sales include a pair of Francesco Guardi views of Venice that sold for $10.5 million at Sotheby’s New York, a Piet Mondrian abstraction from the estate of Barnes & Noble founder Leonard Riggio that fetched just under $50 million, and a monumental rhinoceros-shaped desk by François-Xavier Lalanne that more than tripled its high estimate after a 13-minute bidding war. The report highlights that Old Masters sales were up 24% year-over-year, while top Impressionist and Modern lots saw lower prices compared to 2024.