ART AND AUSTERITY

While unemployment rises and the government warns "we are all in this together" it seems that all is not doom and gloom. "Sotheby's in London's upmarket New Bond Street sold nearly £1bn of fine art in its sales during 2011, according to results filed at Companies House. And with global sales of fine art estimated to have hit £35.8bn last year, it appears Britain is taking a significant chunk. The biggest sale of the year was Francesco Guardi's Venice, a View of the Rialto Bridge, Looking North, from the Fondamenta del Carbon, which yielded £26.7m. " (Independent, 19 March) It is heartening to note that the owning class have not let the present austerity affect their love of a nice picture. RD