Octogenarian artists rejoice! If you were part of a neglected or forgotten art movement in your youth, your time has come. Dealers, collectors, museum curators, art fair organisers and, of course, auctioneers are all looking around for the next big thing – which includes what got missed 50 years ago.

A case in point is the Korean art phenomenon termed Dansaekhwa – a contemplative style of subtly layered and textured minimalist abstract monochrome painting that sprung up in the 1970s while Korea was under a repressive, dictatorial regime.

Until two years ago, the exponents of this aesthetic were rarely seen in the UK. The exception was its leader, Lee Ufan, who left Korea for Tokyo, and has been represented in the west by the Lisson Gallery in London and the Pace Gallery in New York. Lee’s work made an explosive entrance onto the western market back in 2006 when one of his paintings fetched a triple-estimate record $140,000 at auction. A retrospective exhibition at the Guggenheim in New York fuelled interest, and in 2014 his auction record, $2.2 million, was set.