This auction was heavy with works by Bill Hammond and the biggest and best of them all was the Farmer’s Market (Lot 20 ). A sublime work in subject and scale (2.6m long), this trophy painting was destined for serious collectors.
Gracing the front cover of the catalogue this work had a couple of low bids from the phone and room before stalling shy of reserve at $280,000 (hammer) and passed in. Negotiations continued during the sale and within 15 minutes the auctioneer announced that the bid had been accepted and the work sold equalling the record for the highest price at auction for a Bill Hammond and also a New Zealand living artist.
The hammer continued to fall for more of the higher priced artworks in the sale including the Michael Smither work Elizabeth with Sarah and Joseph (Lot 25 ) from his 1960s Domestic series. It was the subject of spirited bidding to reach $130,000 (hammer) against a reserve of $100,000. This buoyed spirits as other works from this seminal series have failed to ignite the buyers this year at auction.
The better of the two works by C. F Goldie, ‘One of the old School, Wiripene Ninia’ (Lot 22 ) finished up $5,000 under reserve at $205,000 (hammer) and the important portrait by Gottfried Lindauer (Lot 23 ) Mrs Huria Whakamairu achieved $150,000 (hammer) after bidding from two parties.
Unfortunately the rest of the auction was subdued and only a handful of lots really stood out. The two Pat Hanly paintings were sold on reserve (Lot 27 ) and unsold (Lot 38 ) respectively which was disappointing given the rapturous response his work received on Tuesday at Art + Object. Perhaps the fairly short turnaround time since they were last seen at auction in 2007 kept bidders away.
The Webb’s sale illustrated the current New Zealand art market trend. Buyers are picky but prepared to pay for what they want. A reasonable estimate is not a guarantee of a sale and sometimes, inexplicably the good works just don’t sell.
Although the final total is very strong, the clearance rate of approximately 50% gives a somewhat different perspective of the auction as a whole and the state of the middle market.
The sale realised $2,023,385 and cleared 50% by lot.
(All prices are expressed in New Zealand dollars)
