Sotheby's announces Noortman Master Paintings to close by December 31, 2013

KOLKATA: Sotheby's has announced that the Noortman Master Paintings, a London-based international art dealership acquired by Sotheby's in 2006, will close by December 31, 2013.

In recent years, the gallery has seen shifts in the collecting tastes of its clients and has faced increasing challenges in sourcing and successfully selling the categories of Old Master Paintings that traditionally formed the heart of its business.

""This is a significant decision and it brings to an end the life of an illustrious gallery that has occupied a pivotal position in the global art market for almost a half century,"" said William Noortman, who took over management of the gallery following the death of his father, Robert, shortly after it was acquired by Sotheby's.

Noortman has specialised in Old Masters, Impressionist and Modern Art and counts as its clients many important private collectors and museums. It has been a major benefactor of The National Gallery, London, and the Mauritshuis, The Hague.