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“All our research shows that with the spread of affluence, more and more people are looking for new ways to demonstrate their taste and discernment,” he told the ATG.

“The art and antiques market is perfectly placed to fill that gap. The problem is that there are so many leisure pursuits competing for people’s time and money, and many are backed by sophisticated marketing.”

Mr Flatters will be will be presenting his analysis in full and offering some practical solutions at the Art of Dealing conference – Retailing in the 21st Century – on May 16. A registration form appears on page 46 of this week's Antiques Trade Gazette.