Famous names as well as famous artists seem to sell paintings at high prices. Is fame the key to selling paintings or talent? There is no doubt that if you are famous people will sit up and take notice of what you are doing or what you are collecting. If you are connected with someone who is famous, being able to use that name to sell your artwork doesn’t hurt. Although to be fair these paintings are antique and have stood the test of time. My favorite is King David, ” by the 17th-century Italian artist Guercino. Painted in 1651, was sold by the Spencer family, in whose London residence it hung for over 200 years. It fetched 5.2 million pounds, a record for the artist. Source: Christie’s Images via Bloomberg
As far as the health of the art market, ““Old Masters are selling at auction,” the London-based dealer Edmondo di Robilant said in an interview. “Private clients are bidding against each other, though usually at the low end of expectations. Competition between the auction houses creates high estimates that don’t reflect the value of some of the paintings.” Seems to be a bit dicey still due to economic concerns.