In what has been a highly competitive market, D + H defied conventional wisdom in their October 2009 Aboriginal art sale. I could not recall a previous offering presented as lavishly, with so few works of major importance or distinction. The sale contained 277 individual lots with a total value of just $2.04 million on low estimates. It had been more than a decade since this many works of art with age and values under $10,000 had been on offer. Only two pieces in the entire October sale had a value in excess of $100,000 and only eleven exceeded $20,000.
When the dust settled on the sale itself the result appeared disappointing. All five of the paintings carrying estimates over $60,000 had failed to sell, while Johnny Warangkula’s Water Dreaming at Kalipinya 1972, lot 7, estimated at $35,000 to $45,000 turned out to be the best result of the night being hammered at just $62, 500 or $75,000 including the buyer’s premium. It was, in fact, the only piece that sold for more than $50,000. Only 46% of lots sold on the night yet, according to specialist Crispin Gutteridge, a large number of inexpensive items sold a day or two later, thereby lifting the success rate, to a very respectable 68%. The sale was read as a positive step by D + H as they engaged in a process of building a solid and loyal client base amongst Aboriginal art collectors.
Viewed in this context, the current March 24th catalogue further refines the D + H approach. While the number of high value works have been cut dramatically and scholarly essays are limited, the production, and quality of the catalogue is as good any that have been presented to the market during the last decade. The offering is chock-a-block full of lovely works at very reasonable prices. It includes a number of small paintings that were collected by James and Wendy Cowan during their tenure as art coordinators at Balgo Hills during the mid 1990’s, and an eclectic collection of works put together by an unspecified Queensland collector.
D&H Head of Aboriginal Art, Crispin Gutteridge, has managed to persuade vendors to consign a large number of lots at estimates that fall below current market expectations. Of the 4 works valued in excess of $50,000 however I expect only one, the work by Paddy Bedford, (Lot 26 ) to find a new home on the night.
The large 1990 painting, Tingari Men's Travels From Kulkuta Toward Lake MacDonald (Lot 28 ) by Anatjari Tjakamarra is overpriced at $80,000 to $120,000. This work last sold at Sotheby’s in 2003 for $90,000 on the hammer, when carrying a presale estimate of $100-$150,000. However that was on a rising market and circumstances today are vastly different. The work does not resonate aesthetically with the current market’s preference for more colourful, gestural and expressive art.
The untitled work by Emily Kngwarreye (Lot 30 ) estimated at $90,000 to $120,000 may struggle, but should sell if the vendor is prepared to lower the reserve by $10,000. Ginger Riley Mundawalawala’s major 1989 canvas, Limmen Bight Country (Lot 36 ) is also likely to sell only if the vendor is prepared to lower the reserve. These large works have not faired well at auction. Approximately 15 large canvases by Riley have come to auction and only two have exceeded $60,000 while the majority have sold for prices between $25,000-50,000.
Overall D + H have produced lovely catalogue and a wide array of very nice and affordable works. Provided vendors have been persuaded to set their reserves at around 10-15% below the low estimates it is likely to result in their most successful Aboriginal art sale to date. If this applies to the highest value lots, expect the sale by value and volume to exceed 70%. In this market, that would be a very encouraging result indeed.
* Based on low estimates
