Smith, John: A catalogue raisonné of the works of the most eminent Dutch, Flemish, and French painters: in which is included a short biographical notice of the artists, with a copious description of their principal pictures : a statement of the prices at which such pictures have been sold at public sales on the continent and in England; a reference the the galleries and private collections in which a large portion are at present; and the names of the artists by whom they have been engraved; to which is added, a brief notice of the scholars & imitators of the great masters of the above schools (Part 1) (London: Smith and Son, 1829)

INTRODUCTION.

XIX

instances will be found noticed in this work, and they
would more frequently occur, did not interested motives
induce the removal of their names and the substitution
of others, as it has been before stated.
It is worthy of observation, that Pictures of the first
class of the Dutch and Flemish Schools, have
constantly increased in value, and even in the public
sales have not fluctuated in price more than ten or
fifteen per cent, (that is, when such sales have been
honourably conducted, and no undue inssuence or
combination taken place) : but this steadiness in price
is by no means the case with second-class pictures, or
those of the doubtful kind; the latter will occasionally
vary, from thirty to fifty per cent. The same remarks
are not applicable to pictures of the Italian schools,
which are exceedingly uncertain in their marketable
value : they have been known to ssuctuate from fifty to
five hundred per cent. This arises from several cir-
cumstances, namely, the questionable originality of the
pictures, the absence of buyers of Italian works, or a
combination between two or more persons to buy, or an
agreement not to bid against each other. This system
of uniting is not confined to the trade; for gentlemen
have been known to agree for the same object*. These
combinations are most injurious to the value of property,
* It is but fair to notice, that the stigma of Picture Dealer has
not prevented some gentlemen srom engaging very largely in the
commerce ; and such have not scrupled to use as much intrigue and
artifice as any designing dealers, although it may have been in a
different manner; and many, from the peculiar advantages they
possess, have made it a profitable speculation.