Margaret Preston was among seven artists to set auction records in the first tranche of the super fund’s sale of its collection of Australian art.
tree, sold for $500,000 , more than double its high estimate, and more than five times its hammer price when it last came up at auction 22 years ago.With buyer’s fees included, the painting’s new owner paid $613,636 for this vibrant piece of Australian art history, which was much admired during viewings in Sydney and Melbourne.
Godfrey Miller, Trees in A Quarry, c. 1952 to 1956, set a record for the artist when it sold for $380,000 at Deutscher and Hackett last Wednesday night. Arthur Boxall, Building of the Sydney Harbour Bridge, 1930, from the Cbus art collection set a record for the artist when it sold for $38,000 at Deutscher and Hackett last Wednesday night.has more than doubled in price since 2000 when it sold at auction for $180,000 ., another modernist work, from the 1920s, achieved four times its high estimate, to sell for $120,000. The painting is double-sided, with an image of Siena on the back, giving the new vendor two paintings for the price of one.
Hall used fellow artist Septimus Power as his central model. Hall’s wife, Grace, and their children are also depicted. And while we’re busy making connections, Preston studied at the National Gallery School, first under Frederick McCubbin then under Hall. The final result is testament to that: the sale surpassed its low estimate of $5.5 million to reach $8 million , a healthy return for the superannuation fund that in 1990 resolved to invest $2 million in Australian art. And there are still three more online-only auctions to go before the entire Cbus collection is sold.
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