CHRISTIE’S PROMOTES OLD MASTERS WITH WORLD TOUR

“New lamps for old,” cries the street peddler at the beginning of Aladdin (or at least the Walt Disney version of the tale). Christie’s London is echoing this pitch with a new tour of Dutch “Golden Age” works from the collection of Pieter and Olga Dreesmann. It is thought, by Bloomberg at least, that the Dreesmanns are selling some of their Old Masters in order to fund new purchases of contemporary art at the Frieze Art Fair and such venues.

That’s not how Christie’s put it, of course. The auction firm said that the tour, kicking off in Doha, is a result of the company’s recognition of “the strength and international nature of the Old Master market and the wide-reaching appeal of works of this outstanding quality.” Before the auction, which takes place on July 3 2012, Christie’s is sending the 15 works to four cities around the world, including Amsterdam, Hong Kong, Moscow and New York.

The lead work is Rembrandt’s panel painting A Bust of a Man in a Gorget and Cap (1626-27), estimated at £8 million-£12 million. Other highlights include a Willem van de Velde II painting of ships off the Dutch coast estimated at £2.5 million-£3.5 million, three first-time-auction works by Adriaen Coorte ranging from £800,000-£2 million and a still life of flowers by Balthasar van der Ast for £900,000-£1.2 million.

The sale is expected to bring in a total of at least £19 million.

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