The collection of connoisseur dealer Andrew Wyld saw its John Constable painting achieve yet another superb result yesterday (July 10), as fevered bidding for the British artist's finest works continues.
Storm Clouds over Hampstead achieved a 104.6% increase on its £200,000 high estimate, selling at £409,250 ($634,338). The price secured the title of top lot in the auction for the work.
The sale comes following Christie's sale of The Lock, which beat the former world record for a Constable work at auction by 3.38% on July 3. Since then, any Constable piece to appear at auction has crushed its estimate, with bidders eager to own a piece of the artist's stunning body of work. This is perfectly exemplified by his sketch of Ham House, which sold at Bonhams today (July 11) for £27,500 - an 83.3% increase on its £15,000 high valuation.
Following the Constable sale, another Royal Academy entrant, Thomas Gainsborough, saw his sketch, A Clump of Trees, achieve a very impressive 635.6% increase on estimate. With a pre-sale valuation of just £8,000, the sketch soared to £58,850, proving the current power of old masters at auction.
The respected Mei Moses Index reported a 5.4% rise in value for old master and 19th century artworks in the first half of 2012, the highest of any sector. With just a reported 8% of the world's leading art buyers collecting old master works, that's a truly remarkable figure.
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