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In a total art-world turnaround, the Old Master paintings summer sales at both Christie's and Sotheby's did far better than expected, even beating out the dismal totals from the recent impressionist, modern, and contemporary sales.

Big-ticket items included a Willem Heda still life that went for 1.38 million pounds, a newly attributed Frans Hals, and Fra Bartolommeo's Madonna and Child. Could these auction results be evidence of a shift in popularity in favor of Old Master works and away from the modern and contemporary that's dominated the art scene of late? Given the current economic climate, collectors are increasingly careful with their purchases, and Old Masters tend to be a better, more solid investment than whatever is currently hot in the contemporary market.

Interestingly though, as Souren Melikian recently observed regarding the modern art sales, there seems to be a lack of quality art to go around at auctions lately, leading major houses to pad their catalogs. This last round of Old Masters included 19th century works and drawings. Apparently the rush to buy up the last of the "good art" is on.

(And for a little fun, check out these incredible modern "Old Masters")