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Old Masters lag postwar artists

Contemporary art pulls in the big spenders while the Old Masters fail to draw art collectors with deep pockets

TOUGH SELL: The Old Masters category showed a glimmer of hope last year when Sotheby's sold 'Rome, From Mount Aventine' (above), an 1835 landscape of the Italian capital by JMW Turner, fetched £30.3 million, setting an auction record for the artist.
TOUGH SELL: Sotheby's auction in New York on Jan 29, 2015, includes 'Pantheon in Rome' by Giovanni Paolo Pannini (above), estimated at between US$3m and US$5 million.

New York

THAT US$3 million Caravaggio is looking like a bargain compared to a US$81.9 million Andy Warhol.

This week at the Old Masters sales in New York, when as much as US$200 million of 15th-to-19th-century paintings, drawings and sculptures are on offer, the auction houses will