Draws on the wide-ranging experience of this art auctioneer, added to that recollected from his father's time. Describes the present-day art market and presents a number of examples to show collectors the evolution of trends in this area. Discusses the law of supply and demand and the practice of collecting. Provides a practical guide for the collector assessing the value of a work of art and includes the topics of authenticity, condition of the piece, rarity, historical importance and provenance, size, medium, subject matter, and fashion.