24 nov. 2007

Auction and media : Tamayo, Bayeux, Canada

We comment here some new results on lots whose sale was identified in advance by AHP.

Well publicized, the Tamayo painting found in a trash got 1.05 million $ premium included on an estimate of 750 K $ in New York at Sotheby's. The history of this item did not play significantly.

Very few media outside La Gazette de l'Hotel Drouot advertised the astronomical compendium of Schissler. Presented with a ridiculous low estimate, it climbed to 620 K € in Bayeux. This excellent price proves that the specialists were warned, but it is a pity that the public bypassed this exceptional object.

Properly publicized on the spot, the sale of Canadian art of Ritchies and Sotheby's confirmed the Tom Thomson oil esquisse, estimated 400 K Canadian $ and sold 550 K Canadian $ hammer price. In this sale where the biggest price fell on a painting by Marc-Aurèle Fortin, Sotheby's announced 18 records. What's a record?

Another auction house is a specialist of Canadian artists : Heffel, whose sale in Toronto has just recorded 5 bids over 1 million Canadian $ premium included. 4 of them carried on the works of two artists who had been announced as the most important: Lawren Harris and Tom Thomson. There had been no lot in this sale with a low estimate higher than 800 K Canadian $. Heffel had a good control of hierarchy between its artists, but had not announced in his estimate the real market price.

Like that of Ritchies and Sotheby's, the Heffel sale was successful, the Canadian figurative art is doing well. However, the very bad habit, almost systematic in major auction houses, to publish estimates hammer price and the results premium included artificially enhances the impression of a successful sale. La Gazette de l'Hotel Drouot, which resisted this trend since ever, also fell into it in the past few years.