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It is the high privilege of the private buyer to buy the works of new men, and by encouraging them disclose a Rembrandt, a Hals, a Millet, a Corot, a Manet, but when the public begins to want the pictures the private buyer, instead of bidding against the public, should step one side; his task is done, his opportunity has passed.

Most men buy pictures not because they want them, but because some one else wants them.

The man who gives half a million for a Rembrandt does so not because he knows or cares anything about the picture, but solely because he is made to believe some one else wants it $450,000 worth.

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The crowning event of the day was the sale of Rembrandt’s “Bathsheba.” The bidding started at 150,000 francs and within a couple of minutes a perfect whirlwind of bids had carried the price to 500,000 francs offered by a dealer, Mr. Trotti.

Already the smaller fry among the bidders had been eliminated and the contest was circumscribed to a small group, Messrs. Duveen, Wildenstein, Tedesco, Muller and Trotti being the most ardent in the battle.