NEW YORK, NY.- In an exclusive interview with artdaily, Lawrence Steigrad, the owner of Lawrence Steigrad Fine Arts, offers a deep dive into the nuanced world of the Old Masters market. As the last gallery in America specializing in 17th-century Dutch paintings, Steigrad provides a unique perspective on a market often overshadowed by contemporary art. He discusses everything from the rising demand for female artists and "almost modern" old master paintings to the critical role of provenance research in the digital age. Steigrad also shares invaluable insights on how he sources his inventory, the evolving profile of collectors, and what he believes the future holds for this enduring segment of the art world.

How would you describe the current state of the Old Masters art market? Are you seeing renewed interest from collectors, or is it still a niche compared to contemporary art?

I can only address the field in which I specialize which is Dutch and Flemish Seventeenth Century. Interest remains steady from both private collectors and museums, particularly in the Netherlands. In 1989 Peggy Stone and I incorporated our business in the state of New York and now we are the last gallery in America specializing in Dutch paintings

What factors are driving prices and demand today? Are there particular schools, artists, or subjects that are outperforming others?

Female artists from the 17th century are very much in demand. Also desirable are bold images that could be categorized as old masters that look almost modern.

How do economic conditions affect the Old Masters market? Does it react differently than the contemporary market during downturns or periods of uncertainty?

I think it is basically the same for all buyers, during uncertainty in the global markets buyers pull-back, it is only the trade that always needs to buy good fresh material to offer to clients at our various fairs and exhibitions.

Are you noticing any changes in the profile of Old Masters collectors? Are younger buyers or new regions of the world starting to invest in these works?

We have two young collectors in their thirties in Holland who have both bought exceptionally good, well documented Dutch paintings that have also been published in museum exhibitions. But in February in Palm Beach, we sold an octogenarian his first Dutch 17th century painting.

Where do you typically source your paintings? Are private estates, European auctions, or other galleries the main channels?

We try to buy as much as possible from private collectors, but we do buy at auctions as well.

How difficult is it today to find fresh-to-market Old Masters? Are most works already in collections or museums?

We have recently purchased back several paintings that we sold to collectors 10, 20 and 30 years ago! Some have moved to smaller homes and the children are more interested in collecting modern or contemporary. Due to the internet and the increased accessibility to online sales globally much more is viewable and yes interesting paintings still surface.

How do you verify authenticity and attribution? What role do art historians play in the process?

Art historians, scholars and museum curators play a crucial role in authenticating works of art, as well as the Art Loss Registry and Art Recovery International help insure we do not purchase works of art that have been stolen either by the Nazis or by other theft.

Do you ever work with scholars, or archives to establish provenance? How challenging is that for Old Masters?

An overriding concern is establishing the provenance for a painting. It is of course extremely interesting to know as much as possible about a painting’s history through the centuries, but of primary importance is that it is not looted. We consult all corresponding literature, appropriate scholars, archives, and libraries as well as The Art Loss Registry, Lost Art Database and Looted Art.

Which artists or schools do you believe are undervalued right now in the Old Masters sector?

We do believe academic pictures of the nineteenth century are undervalued.

What role does condition and restoration play in value? Can a well-restored work sometimes outperform one in “original” condition?

Condition is paramount and that goes hand in hand with a good restorer. We use Chelsea Restoration Associates in New York.

How important is provenance in the current market? Do collectors prioritize works with illustrious histories or museum exhibitions?

Absolutely

Do you ever discover “sleepers” or misattributed works at auction? How often does that happen today compared to 20 years ago?

It does not happen nearly as much as it used to mainly because of the internet. Instead of a few young dealers jumping into their cars twenty years ago and driving to see first-hand the quality and condition of an artwork, you now have images of that art work digitally sent to hundreds if not thousands of eyes.

How do fairs like impact your business and the Old Masters market as a whole?

We exhibit at PAN Amsterdam, the Winter Show in New York and the Palm Beach Show in February. Thay are all particularly important for meeting and selling to potential new and existing clients, as well as Museum curators and directors.

What advice would you give a new collector interested in starting an Old Masters collection?

Get advice from a trusted and knowledgeable source.

Looking ahead, where do you see the Old Masters market in the next decade? Will technology, globalization, or generational shifts play a significant role?

Like everything else I am sure it will be altered, but since our market has been ongoing since the early 1600s its continuation and sustained interest is assured.