Old Masters, New Prices

Each January, European old master dealers descend on New York for the Sotheby and Christie old master auctions. The dealers from London and Paris try to sniff out discoveries or snap up bargains to restore for the March European Fine Art Fair in Maastricht. Maastricht - one of the most important world art fairs - sees many paintings just sold in January turn up reframed and restored with substantially higher price tags. Because the dollar is weak, European dealers are expected to be big buyers. Christie and Sotheby together should generate about $50 million in old master sales. A Canaletto, originally bought in 1730 for 100 pounds, could star by topping 4 million dollars. Irish Art