The art market is traditionally quiet in August. But Australia, the world’s ninth
largest market in 2001, has taken advantage of the summer break to hold the first
big sales of the coming season. Sale catalogues feature a number of the Aussie artists
that have recently been making waves at auctions.
Australian artists are much in vogue this year. The best-known have seen spectacular
rises in their benchmarks over the last few months, led by Brett WHITELEY , who won the international prize at
the Paris Biennale 1961, and whose work topped the sales at Australian public auctions
in January to June 2002 while his price benchmark gained 10%. Arthur BOYD , whose paintings have risen
in value by 50% since January 2002. Against this trend, Australian landscapist Sidney Robert NOLAN is one of the few Aussies to have
lost value lately.
Collectors should be pleased with the quality and range of the lots offered at the
Australian sales. Sotheby’s kicks off proceedings with an auction in Sydney on 25-26
August. The 800 lots include a magnificent Portrait of Wendy (1985) by Brett WHITELEY , estimated at AUD 170,000-200,000*
and a large number of Arthur BOYD canvases, including Bride
in a Cave With Rainbow (AUD 400,000-600,000) which could well drive up the benchmarks
for these two painters. In the following few days Christie’s holds its Melbourne sale.
One of the most eagerly awaited lots here will be a major work by John Cecil BRACK , Seated Nude (AUD 200,000-300,000).
Brack has enjoyed one of the biggest jumps on the market. AUD 100 invested in one
of his paintings in 1997 would have been worth AUD 400 in June 2002. Another highly
profitable artist this year, Frank Jeffrey Edson SMART , will be represented with
his The Stadium I (AUD 80,000-120,000).
In the contemporary art market, two Australian names are exploding in popularity :
the painter Timothy Austin STORRIER and photographer Tracey MOFFATT . Enthusiasts for the young photographer
can bid for 3 exceptional pictures at another auction organised by Sotheby’s in Melbourne
on 8 September. One of the mythical prints from the series Something More (1989) has
an estimated price of AUD 80,000-120,000. As for Léon HAFFNER (Attrib.) , bidding could well be
intense for Burning Logs, typical of the artist’s large format works whose
prices have been spiralling for the last five years. In less than 6 months, the value
of his paintings has risen 38.3%.
If the Melbourne and Sydney auctions can repeat the exceptional hammer prices Aussie
artists have been commanding in the first season, it will augur well for the season
about to begin.
*AUD = Australian Dollar = approximately USD 0.54
