Saleroom: Vendors cautious but some artists exceed expectations

By DON MILNE

Trends come and go in the world of art sales, but here in New Zealand we seem more conservative.

The pantheon of 20th-century art is still headed by Colin McCahon; Charles Goldie is still head and shoulders above his earlier contemporaries; Ralph Hotere still takes the prize among living artists.

But two sales in London last week saw what Edward Dolman, chief executive of Christie's, described as "a major change of taste" such as he had never before seen. Out of fashion were impressionist works by such masters as Renoir or Monet, which either didn't sell or brought lower prices than Christie's and its great rival, Sotheby's, had expected.

Instead, buyers' tastes moved consistently to such 20th-century artists as Jean-Michel Basquiat, Francis Bacon and, spectacularly, Egon Schiele.

A selection of 15 Schiele watercolours sold at Sotheby's for US$18.2 million ($29 million), with a top price of US$3.5 million ($5.6 million) for Lovers, a typical Schiele piece showing a semi-naked couple embracing.

Three studies of Isabel Rawthorne by Francis Bacon fetched US$4.2 million ($6.7 million) at Christie's, and an untitled scowling black face by Basquiat went for US$4.5 million ($7.1 million) at Sotheby's.

Nobody here commands such stratospheric prices, and nor do auction houses charge the sort of buyer's premiums that the London houses extract (20 per cent of the first $US100,000 at Sotheby's, and 19.5 per cent at Christie's, with 12 per cent of the rest). Buyers here generally pay 10 per cent premium, plus GST on that amount, adding in total 11.25 per cent.

Getting back to real life, Webb's sale last week saw quite a number of works fail to reach the reserve and sold "subject to vendor's approval".

But, as generally happens, the majority were sold subsequently - many at the hammer-fall price. Only a few did not sell as vendors, having tested the market, decided not to lower their expectations and wait for a better day. That, too, is typical of many sales.

The sale topped the $2 million mark, with four works exceeding $100,000 (taking into account premium and GST). They were (with hammer prices): Test Piece Red/Black by Hotere and Vessel Attacked by Pat Hanly (both $90,000); Doubting Thomas by Michael Smither ($100,000) and The Weariness of the Aged by Goldie ($170,000).

Another Goldie, No Koora te Cigaretti (translated as No good the cigarette) showing Arawa chieftainess Tekarea Te Heu Heu (who apparently preferred a pipe rather than the cigarette she is shown with) went to $82,000.

A third Goldie, an early and very proficient still life, climbed to $90,000 but failed to reach the reserve.

Artists whose work attracted increasing interest included John Pule, whose big High and Low diptych went for $60,000, Milan Mrkusich (Painting III, $65,000), and Robert Ellis (River winding through city, $20,000).

The surprise of the night was River Tug Boat, a tiny oil on board by expatriate Raymond McIntyre (1870-1934). Estimated at from $28,000 to $35,000, it nearly doubled its reserve to sell for $52,000.

Coming up: Cordy's next catalogue sale is on July 27.

The International Art Centre's next sale on July 29 includes works by Smither and Ellis, with some fine earlier pieces by such artists as Evelyn Page, Rita Angus and Frances Hodgkins. It will be followed by a collectable art auction on Sunday, August 8.

Webb's next affordable art sale is on August 10.

Dunbar Sloane has two big sales coming up in Auckland on August 18 and 19 and in Wellington on August 25 and 26. Entries for both sales close next Wednesday.