The strange case of the dealer who went over the top

Dealers often complain about the way that private bidders get over-excited at auctions and pay ridiculously inflated prices they wouldn’t dream of giving in a gallery. But for once it looks - or rather looked – as if a major player in the trade had suffered a serious attack of auction fever following Jermyn Street agent Guy Morrison’s terse admission that he was now the happy owner of £9.4m Joshua Reynolds (1723-1792) portrait.