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The conference, which was due to bring together the leading professional bodies, experts and higher education institutions under one roof, would have provided a unique opportunity to hear the full range of opinion and debate on key issues to do with the future of the profession.

Colin Read of Drummond Read Recruitment & Training, who set up the conference, commented: “We are, of course, disappointed at the low level of response since an important opportunity has been missed to consider the future structure of the fine arts business. It underlines the trends we highlighted several months ago in the Antiques Trade Gazette that auction houses, galleries and retailers within the fine arts business primarily want business winners, contacts and enthusiasm rather than necessarily those who have studied and achieved formal qualifications.

However, Drummond Read Recruitment and Training strongly feel that investment in education is vital for the future.”

Despite the disappointment, Mr Read hopes that the publicity surrounding the conference will act as a catalyst to bring all the organisations involved together to consider the fundamental issues which affect all those in the business.

His thoughts were echoed by Gazette editor Ivan Macquisten, who had agreed to sponsor the conference. “It’s a pity that the day will not be going ahead, but the important thing is that it has helped bring the debate over education and standards in the profession to the fore once more. The vital thing is to instil ongoing confidence in the profession. The future prosperity of fine arts valuation and auctioneering depends on attracting new blood to the profession and ensuring that potential clients are confident that they will receive the best possible service.”