Just 28 works owned by two men who spent decades doing deals delivered one of the best auction results of the year.
Already a subscriber?Paintings owned by two men who spent decades doing deals delivered a bumper auction result, with 28 works from the collections of veteran Sydney art dealer Denis Savill and late Melbourne businessman Ron Walker selling for a total of more than $8.2 million including buyer’s premium.
Arthur Boyd’s oil painting, Landscape, measuring a tiny 19.5 x 22.5 cm, sold for $58,750 on an estimate of $15,000 to $25,000.Savill told Saleroom the trick was to send the first of the Boyds up to the auction block without applying any reserve. The reserve is effectively a safety net. It’s the price beyond which the auctioneer is compelled to sell the work to the highest bidder. If the reserve is not met, the auctioneer can not bring down the gavel without seeking direction from the vendor.
Although all 20 lots from the Walker estate sold on the night, the price of only 19 of them was reported to Australian Art Sales Digest, totalling a tidy $6,557,318. The third Whiteley, however, did not sell until the next day or so. It was therefore not reported to AASD as having sold at the auction, S&S chairman Geoffrey Smith told Saleroom.“We don’t publish the sale price, because we don’t consider it being sold under the hammer, whereas the other two, the deals were essentially done almost immediately.
, 1967, which features a self portrait with “thought bubbles” and a detachable sculptural arm which projects out of the edge of the picture.
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