I used to be annoyed by this and now I think it's the most delightful thing in the world. So-called contemporary art is like this sponge that just absorbs all of it. There's none left. Some of the things I buy, I'm the only bidder. I get it for the reserve price. No one else in the world wants it or even knows that it's being sold. They're all undervalued. Brand and craft became divorced. It used to be that the best artists were the best craftspeople. And once art started to be reproduced in newspapers and magazines you could create a brand that wasn't based on quality.

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