Auction Records Tumble at Fletcher Trust Sale at the International Art Centre

By Briar Williams in Auckland, on 11-Sep-2014

Since its inception in 1962, the Fletcher Collection has been renowned for collecting the highest quality examples of both colonial and contemporary New Zealand artwork. Therefore there was always going to be strong interest when such a collection decides to part with a significant number of works, 77 in total. This collection is New Zealand’s best known corporate collection and the fact that it is still together when a lot of other collections were disbursed in the 1990s is remarkable.

Auction records tumbled at the sale of 77 works from the Fletcher Trust Collection, New Zealand's best known corporate art collection at the International Art Centre last night. The painting which attracted the most interest at the viewing was the "Self Portrait" by Raymond McIntyre and the low estimate of $40,000-$60,000 enticed three telephone bidders to compete to the hammer price of $88,000, setting a new auction record for the artist.

The original collection was started with four paintings by J.B.C. Hoyte so it was no surprise that the offering would be strong in colonial works and several of these were museum quality. Paintings by John Kinder, J.B.C.Hoyte and Alfred Sharpe all attracted good interest with most selling well over bottom estimate. J B.C Hoyte's The Gold Crown Stamper Battery, Thames (Lot 47 ) achieved the top price for the colonial section at $27,500 hammer against a low estimate of $15,000.

There were some true gems on offer in the collection and the painting which had attracted the most interest in the viewing was the Self Portrait by Raymond McIntyre (Lot 17 ). Paintings by this artist rarely come on the market and IAC had already been blessed with two examples earlier this year that had done extremely well. This painting was a more important subject and in far better condition. The estimate of $40,000-$60,000 seemed light so the fact that three telephone bidders competed up to $88,000 (hammer) was less surprising. This was also a new auction record for the artist.

Other highlights included, Michael Smither's Hills of Tongaporutu (Lot 26 ) which was contested strongly in the room to $74,000 (hammer) against a low estimate of $45,000, and Still Life Magnolias (Lot 16 ) by another rare expatriate painter Rhona Haszard which fetched $28,000 against a low estimate of $15,000 and also set a new auction record for the artist.

The main surprise on the night was the lack of interest in two of the best artworks on offer. Pat Hanly's Torso G (Lot 20 ) and Philip Clairmont's Still Life with Jug and Paintbrush (Lot 33 ) are both exceptional and classic examples of the artists’ work, were presented well and in good condition. Bidding on these two lots was slow and both only just made it past low estimates to reach $45,000 and $35,000 (hammer) respectively.

On the whole the rest of the auction did well. Many paintings sold between 10% and 20% over their low estimates, reserves seemed reasonable and on those items not making reserves, bids were written down for negotiation. Very few paintings were passed in with no interest at all showing that good pricing and great provenance is as always an unbeatable combination.

At the end of the sale the auction had realised $654,000 hammer which is 93% by value and cleared 81% by lot.

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About The Author

Briar Williams is an Art Valuer and Auctioneer who has worked in the primary and secondary markets of New Zealand and Australia for over 15 years. In Melbourne she managed a commercial gallery and was a valuer at Leonard Joel Auctioneers & Valuers before becoming Head of Art there in 2009. Most recently, she was the manager of the art department at Mossgreen-Webb's in Auckland and currently works as an art writer and consultant.

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