Beating the big boys

It was heart warming (and God, any kind of warmth is welcome at the moment) to see that the London Jewish Museum snaffled a Marc Chagall gouache for a mere £26,600. Had the auctioneers comprehended the watercolour’s significance the reserve would have reached six if not seven figures and perhaps have returned to a private collector.

Instead, Chagall’s depiction of the crucifixion as a metaphor for the persecution of Jews during the Second World War will be displayed at the Osborne Samuel gallery. I doubt the era of bargain masterpieces has been inaugurated, but it’s one in the eye for the art world’s extortionate giants and wandering oligarchs. Hurrah for that.