The London gallery Agnews announced that it will be closing its doors on April 30, 2013 after nearly 200 years in business. One of the world’s oldest art dealers, Agnews, which specializes in Old Master paintings, will make a final appearance at the European Fine Art Fair in Maastricht (March 15- 24, 2013).

Business for Agnews has been cooling off since chairman, Julian Agnew, sold the gallery’s historic Bond street location for a reported $39 and moved to a smaller space. Agnew attempted to sell the business last year, but negotiations with a prospective buyer failed. The privately owned firm, which has 16 family shareholders, revealed a loss of almost $3 million in records dating back to 2011.

Agnews has been selling off its stock, which once included Old Master works by Thomas Gainsborough (1727-1788), Anthony van Dyck (1599-1641), and Rembrandt (1606-1669) as well as watercolors and British paintings. Whatever is left in the gallery will be taken care of in due time. Agnew will continue to work as an advisor to clients and will keep the company’s family name.