Peppered with a number of masterpieces, historical curiosities, a slew of classic traditional and moderns and handful of contemporary works, this sale draws from a wide pool of vendors (that includes Barry Humphries, Max Factor and the Estates of the Late Joseph Brown, John Stringer and Ursula Hoff), an encouraging sign for a still tender art market
The front cover is Arthur Streeton’s, Coogee Bay 1907 (Lot 29 ), estimate $500,000-700,000) whose whereabouts was unknown at the time of the artist’s 1995 retrospective at the National Gallery of Victoria. No doubt great excitement will greet the unearthing of this masterpiece which is the third of three major works on the subject; one belongs to the National Gallery of Victoria and the other remains in private hands.
Launching the first part of the sale are a group of traditional and modern works belonging to a company collection assembled primarily by Lister Galleries, Perth nearly three decades ago. Highlights amongst the collection of many misty blue, green and terracotta hued landscapes are fine examples by Haughton Forrest with Lake George, Mount King William, Tasmania (Lot 2 ),estimate $40,000-60,000, Elioth Gruner’s Jamieson Valley 1914 (Lot 6 ),estimate $50,000-70,000, Arthur Streeton’s Melbourne from Sassafrass 1921, (Lot 8 ),estimate $220,000-280,000 and Hans Heysen’s Hahndorf (Lot 12 ), estimate estimate $18,000-25,000). Aside from Streeton’s Coogee Bay, the rediscovered Russell Drysdale painting The Stockman 1958, (Lot 16 ) estimate 250,00-350,000) provides the second fresh top tier offering from this particular collection.
Russell Drysdale features again in the sale with his well known and widely exhibited work, Deserted Out-Station 1945 (Lot 45 ) estimate $600,000-800,000). This should provide a barometer for the performance of blue chip works in the current climate. Also keeping Drysdale company and bound to be closely watched will be Fred Williams, Australian Landscape 1969 (Lot 76 ), estimate $600,000 – 800,000), Lloyd Rees’s poetic masterwork Sydney-The Source 1973 (Lot 85 ). estimate $450,000-550,000), Rupert Bunny’s Parisian Soiree (Lot 28 ), estimate $200,000-280,000) and John Olsen's powerful diptych, Bungle Bungle Ranges 1983 (Lot 95 ), estimate $400,00-500,000).
Sotheby’s appear confident in their estimate of Olsen’s painting, offered for the third time in a decade, which at low estimate is double its result of $216,000 including BP achieved at Deutscher-Menzies in 2005. It’s curious and amusing to ponder whether the artist’s appeal might broaden in the wake of the recently opened Olsen Hotel in South Yarra … will the Art Series Hotel group (which include Cullen Hotel and Blackman Hotel) have a positive cultural and economic impact on those artists performance within the art market in years to come?
The sale features two John Brack portraits that bear close ties between their vendors and artist. Brack’s early monochromatic pastel Self Portrait 1948 (Lot 47 ), estimate 50,000-70,000) was a gift to his friend Dr Ursula Hoff.
This pensive portrait of an artist known for his restraint and discipline is serendipitously contrasted with Brack’s study for his portrait of the flamboyant housewife-cum-icon now known as Dame Edna Everage. Study for Barry Humphries in the Character of Mrs Everage 1969 (Lot 77 ), estimate $50,000-70,000) has been in the collection of Humphries since he sat for the portrait forty years ago.
A small but select group of contemporary works comprise the back end of the catalogue. An opportunity to, in local parlance, get a lot of “bang for your buck” lies with Tim Maguire’s space-challenging triptych, Untitled 1998 (Lot 101 ), estimate $240,000-280,000), especially if it were bought within the range. Representing a seminal period, this painting would surely be estimated at double the low estimate in stronger economic times.
The market’s response to this catalogue and more broadly the first season of auctions for 2010 will be pivotal. Not only will the total sale results give an indication to the health of the art market but witnessing which periods and price brackets are most favoured will be telling and scrutinized in an effort to map trends and strengths.
