News

As the US and European governments infused billions into their banking systems, Christie’s have changed their approach to credit. Dealers who were previously allowed several weeks to pay for items after collection have now been informed they must pay before receipt of their goods.

THE campaign to save The Mall in Camden Passage appears to be facing defeat, with the landlords of the North London antiques centre having evicted all the remaining dealers. The iconic Grade II listed building at the head of the famous antiques thoroughfare, which formerly housed over 30 dealers, now lies empty with the shutters down.

The Moscow-based luxury retail giant Mercury Group have bought a majority stake in the London-based international auctioneers Phillips de Pury & Company. Phillips de Pury said that Mercury initially offered a possible partnership in July last year, but the deal developed into an effective takeover last week.

WHETHER or not the art market will be able to steer its way through the current financial storm remains an open question. But providing some relief from the constant talk of falling stocks and the global credit crunch, a pair of Dutch marine pictures saw some strong bidding at the latest picture sale held by Woolley and Wallis on October 8.

DMG Antiques Fairs say there will be no quick sale of their portfolio of antiques fairs following the sale of ATG and the Palm Beach International Art and Antiques Fair.

It proved, as predicted, to be the highest priced item in London Islamic week sales, but the Fatimid rock crystal ewer did not generate quite the fireworks that were expected before it came up for sale at Christie's on October 7.

LAPADA have announced new dates and a new Mayfair venue for the 2009 staging of their flagship London event. The LAPADA Art & Antiques Fair will be held from September 24 to 27 in a purpose-built marquee located in the centre of Berkeley Square in the very heart of Mayfair, London W1.