Here we go, off this morning to Toronto, to the Sotheby’s in Association with Ritchies Auction of Important Canadian Art. Now I have gone to many auctions in my life, but never this “top of the line” art auction. Even our own prestigious art auction is no where near this level.
This one all started because Bert, my buddy, was responsible for getting the top grossing painting into this auction, as well one into their last Canadian Art auction. His ability to find and bring forth these masterpieces has put him in a prominent position in today’s small Canadian art world.
The two paintings have both been by Lawren Harris, and have proven to be top sellers. They have been great pieces, not unlike the mystery painting I wrote about on Monday, April 20. However, the one last year sold, with buyer’s premium, for $2,000,000 where today’s wonderful, but small painting, sold for $175,000. However, all this gave us reserved seating (there ended up being nine of us) in the third and fourth rows of a very crowded room, with bidders, spectators and the press. The news angle seemed to be mostly about the economy and how the art market fairs in these times. There was a total of $3.2 million dollars spent and a 70% sales rate. Not overwhelming, but not bad. I think it’s a great time for buyers, not necessarily for sellers. The prices are all up over a few years ago, but bargains still exist out there.
The prices realized can be found at http://www.ritchies.com/auctions/851-sothebys-in-association-with-ritchies-important-canadian-art/1,100/0/1
Afterwards there were TV and newspaper interviews for Bert, not me, and we all walked over to the Distillery District for lunch.
The buyer, a dealer himself, got a bargain.
He plans to sell the painting for $375,000.
This one all started because Bert, my buddy, was responsible for getting the top grossing painting into this auction, as well one into their last Canadian Art auction. His ability to find and bring forth these masterpieces has put him in a prominent position in today’s small Canadian art world.
The two paintings have both been by Lawren Harris, and have proven to be top sellers. They have been great pieces, not unlike the mystery painting I wrote about on Monday, April 20. However, the one last year sold, with buyer’s premium, for $2,000,000 where today’s wonderful, but small painting, sold for $175,000. However, all this gave us reserved seating (there ended up being nine of us) in the third and fourth rows of a very crowded room, with bidders, spectators and the press. The news angle seemed to be mostly about the economy and how the art market fairs in these times. There was a total of $3.2 million dollars spent and a 70% sales rate. Not overwhelming, but not bad. I think it’s a great time for buyers, not necessarily for sellers. The prices are all up over a few years ago, but bargains still exist out there.
The prices realized can be found at http://www.ritchies.com/auctions/851-sothebys-in-association-with-ritchies-important-canadian-art/1,100/0/1
Afterwards there were TV and newspaper interviews for Bert, not me, and we all walked over to the Distillery District for lunch.
The buyer, a dealer himself, got a bargain.
He plans to sell the painting for $375,000.
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