Chapter ten discusses the inevitable decline of the mid-Victorian art boom. We argue
that the ‘Golden Age’ came to an end in Britain mainly due to the success of, and
consequent economic dependency on, mass-marketed prints and the associated dealer-organized
exhibitions. Confronted with the new medium of photography, rampant copyright violations
and adverse changes in copyright laws as well as the availability of cheap substitutes,
the more expensive steel engraving could no longer compete. These formidable pressures
on the existing market structure were further compounded by new aesthetic theories
that arose as a result of the market’s demand for innovation and undermined the well-worn
product characteristics of Victorian painting. A closer examination of the Etching
Revival movement is presented as a paradigm of art producers pro-actively redesigning
their products and successfully challenging prevailing aesthetics. We also discuss
here in greater detail the brief history of the Grosvenor Gallery as a model for
the kind of innovative competition in art marketing that is both symptom and agent
of change. A similar role was played by dealers from the Continent who came to England
hoping to profit in London’s buoyant art market. In addition, contemporary British
painting was again threatened by a resurgence of interest in old master works which,
by comparison to works by living artists, were undervalued.