A show of work by Richard Prince that opened this week at London’s Serpentine Gallery is being held “in collaboration” with the luxury goods company Louis Vuitton, marking yet another crossover between the art and fashion worlds. Prince is one of a stable of contemporary artists, including Takashi Murakami, Julie Verhoeven, Stephen Sprouse and Robert Wilson, who have been brought on board by the French fashion house. Like Murakami, Prince has designed bags for Vuitton; but unlike Murakami, whose current show at the Brooklyn Museum of Art (until July 13) features a Vuitton shop, Prince handbags will not be for sale at the Serpentine. There will be a limited edition of “Jamais” bags on sale in the Vuitton London shops during the show, at £9,000 each.

Two of London’s most respected dealers in 18th-century English furniture, Jeremy and Hotspur, are closing shop and selling all their stock together at Christie’s in November. John Hill of Jeremy explains that their gallery lease was coming up for renewal and “it was time to have fewer responsibilities and to give a chance to the younger generation”. The departure of Hotspur, established in 1924, and Jeremy, established in 1946, reduces the number of quality antique furniture dealers in London at a time when the market is suffering. The very best pieces are making huge prices – a Chippendale cabinet sold at Christie’s for more than £2.7m this month – but the mid-market is extremely flat.

The Daily Mail has thrown in the towel and is selling the Palm Beach art and antiques fair, held in Florida every February, back to its original owners and founders David and Lee Ann Lester. The media group bought it for £12.7m from the Lesters seven years ago, but the event has struggled ever since, with disappointing attendance and sales. Some disgruntled dealers refused to exhibit this year and a failed attempt was made to patch things up by selling part ownership in the fair to a group of leading dealers, including London’s Richard Green and Konrad Bernheimer of Colnaghi. Now a core group of 20 dealers will sign up for three years, and David Lester is planning to shake things up by improving marketing and, he says, ”surrounding the fair with Art Basel Miami Beach-like social events”.

The Mei Moses index, which tracks the performance of art as an investment and asset class, is often cited in newspaper articles about buying art. Now a British journalist and art dealer, Alastair Ashford, has studied this and other sites that produce art indices . The value of the Mei Moses index is limited, he says, because it bases its findings purely on when a work of art is sold more than once at auction. So works sold through dealers, or that remain unsold at auction, are ignored. In order to find enough paintings to include, the index has to go back 132 years – to 1870, which Ashford says has no bearing on art market reality or the present climate. In his report he awards Mei Moses “a well-deserved booby prize”.