By David Hulme & Brigitte Banziger, on 05-Apr-2021

It was a sign of things to come at the Menzies fine art sale on Wednesday 31 March in Sydney. Under the motto “Menzies – The Art of Discovery” two modestly sized traditional 1920s landscapes far exceeded expectations: Horace Trenerry’s Country Road (Lot 8 ) sold for $16,000 on estimates of $7,000-10,000, while Mount Coot-Tha (Lot 9 ) by Lloyd Rees carried hopes of $8,000-12,000 and sold for $17,000, climbing to double the low estimate.

With similar verve there was strong bidding in the room for Euan Macleod’s contemporary landscape Large Figure in Early Light, 1991 (Lot 12 ). After securing the painting for $15,000 (est. $8,000-12,000), the young gentleman immediately strode out of the room in an uncannily similar fashion to the figure portrayed in the painting he had just acquired.

Ben Quilty’s Beast 2 from 2005 (Lot 20 ) proved to be the high-flyer of the night at Menzies fine art auction in Sydney on March 31, 2021. The man-sized budgie, estimated at $35,000-45,000, ended up selling for $220,000 hammer price after a fierce battle between the room and a phone bidder. The auction turned over $5,000,830 ($4,074,750 hammer price), selling 95% by value and 90% by number.

It seemed like a return to days of old, and although not like the numbers at the Bonhams sale of Lucio’s collection, this mixed vendor auction had a strong crop of new bidders when looking around the busy room almost filled to capacity. All options for bidding – absentee, in the room, on the phone or via internet – combined to offer a tour de force for Menzies and their vendors.

There will be some exceptionally happy sellers like the owner of Tim Storrier’s The Engonia Fire, 1993 (Lot 14 ), who was prepared to sell the oil and watercolour on card for $9,000-12,000. Extremely keen bidding took the work to two and half times the top estimate, selling for $30,000.

There were a staggering 10 phone bidders registered, all hoping to catch Lin Onus’ Bulla Goonya (Two Fish) (Lot 17 ), estimated at $22,000-28,000. The prized catch went to the lucky buyer with the longest breath for a gasp-worthy $74,000. The highest previous price for a comparable work by Lin Onus was Kiup Bulla Gookoop (Three Frogs) sold by Deutscher + Hackett in November 2013 for $45,000 hammer price on hopes of $15,000-20,000. Perhaps we should not be so surprised then at the result for this equally sublime example of the artist’s work.

A strikingly fresh and fresh to market painting by ROAR artist David Larwill added fuel to auction stalwart Storrier’s fire: Deadheading the Aggies, 2004 (Lot 18 ) sold for a hard fought $63,000 or more than double the modest looking high estimate of $30,000.

However few bidders, observers and even the auctioneers would have been prepared for the fierce fight for ownership of a man-sized budgie titled Beast 2, 2005 (Lot 20 ) by Ben Quilty. On what always appeared to be modest estimates of $35,000-45,000, there was barely a tweet out of the majority of the audience as the feathers flew, ultimately between the room and a very determined phone bidder who prevailed with the painting sold for a stunning $220,000.

Achieving a new auction record for Quilty and considerably beating the most recent auction record of $140,000 for Paul’s Falcon, 2008, set by Deutscher + Hackett just in November 2020.

Strong results were also achieved for the cover lot, Lin Onus’ dark and mysterious Moonlight at Numerili 2, 1993 (Lot 25 ), selling exactly on the high estimate for $420,000, and an equally favoured artist on the night, Tim Storrier’s Sirrius Flame, 2009 (Lot 26 ), incinerating the hopes of $90,000-120,000 and selling for $160,000.

Although it wasn’t a case of every picture out of the 125 offered selling: Bill Robinson’s Tweed Valley, Rainforest Ridge and Beechmount, 1999 (Lot 27 ), on estimates of $200,000-250,000 failed to find a buyer on the night. Nor did John Brack’s perhaps too Green Nude, 1971 (Lot 29 ) estimated at $400,000-600,000, whilst Jeffrey Smart’s Bus by the Tiber, 1977-78 (Lot 30 ), estimated at $700,000-900,000 was just not the ticket for Smart lovers last night.

On the other hand, old favourites Robert Dickerson, Arthur Boyd and Garry Shead were keenly sought by a multitude of bidders. The highest price for one of the several Dickerson paintings in the sale was achieved by Girl in the Paddock, 1998 (Lot 41 ). On estimates of $60,000-80,000, this very large canvas set the third highest price ever for Dickerson’s work at auction, selling for $140,000. Carrying on with Tim Storrier’s fire theme, Arthur Boyd’s Wimmera Landscape with Fire and White Heron, c1985 (Lot 34 ) proved popular too: it sold for an impressive $135,000 (est. $80,000-120,000).

The importance of Kathie Sutherland’s catalogue raisonné on Brett Whiteley cannot be overstated for this artist’s already impressive market. All six of the Whiteley offerings – drawings and limited edition prints – sold on the night, with the highest price going to one of Whiteley’s signature themes Lavender Bay 2, 1973 (Lot 35 ), selling exactly on the high estimates for $70,000 to a bidder in the room.

Recent retrospectives of a particular artist’s work tend to have a knock-on effect in the auction room. The exquisite showing of Joy Hester’s oeuvre at the Heide Museum of Modern Art in Melbourne is a case in point with her Untitled (Child with Hat and Scarf), c1955 (Lot 48 ) offered at $30,000-40,000. Joy Hester is all about the eyes, and at Menzies, it was all about the ayes however, where highly spirited bidding ended at $48,000 for this modestly sized but powerful work on paper, the artist’s preferred medium.

Arthur Streeton is another artist most recently highlighted, in a major show at the Art Gallery of New South Wales. The Oak Lane, 1909 (Lot 39 ) did come with an impressive exhibition history, but was last shown publicly over 50 years ago. On estimates of $90,000-120,000 the foliage shaded country lane lit up at $150,000.

Tasmania seems to be not just flavour of the month, but flavour of the year. If you are not moving or holidaying there, you are no doubt drinking their amazing sparkling wine. Their art it seems is no different. In search of a quieter more peaceful existence, a step back in time can be enjoyed with Haughton Forrest crystal clear paintings. It has been a very long time since we have witnessed these kind of prices paid for the captain cum painter. His Mount Ida from Fisherman’s Camp Lake St. Clair, Tasmania (Lot 69 ) offered at $25,000-35,000 soared to a significant $94,000 by end of bidding, which including buyer’s premium will make this the second highest price ever paid for Forrest’s work at auction. The two previous highest prices were set 25 years ago in 1996, and it looks like that this out of favour artist has returned with gusto, as another painting by Forrest estimated at just $9,000-14,000 sold equally well. Mount Wellington from Cascades, Tasmania (Lot 74 ) sold for $40,000.

The mood of the evening and the current art market is captured in the sale of one painting in particular, A Sheltered Place (Lot 75 ), a beautiful painting by South Australian artist Jacqueline Hick who has had over 400 works offered at auction since 1971. On estimates of $3,000-5,000, it sold for $28,000, and setting a new auction record for the artist.

In total, the Menzies auction achieved $5,000,830 ($4,074,750 hammer price), and sold 95% value and 90% by number.

With much anticipated mixed vendor sales in mid-April at Smith & Singer, Deutscher + Hackett and Bonhams, it looks like the seller’s market is continuing perhaps even stronger than 2020.

 

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About The Author

Brigitte Banziger and David Hulme are the principals of Banziger Hulme Fine Art Consultants, established since 2003. With their combined experience of over 40 years, they provide private collectors as well as companies and public institutions with independent expert art valuations. In addition to their appraisals for insurance, family law, deceased estates and market values, they assist clients with transparent advice when buying or selling an individual artwork or an entire collection, for some of Australia’s most significant private collectors. David Hulme is an approved valuer for the Australian Government’s Cultural Gifts Program, and both Brigitte and David are members of the Art Consulting Association of Australia, where David served as President from 2015 to 2019. David Hulme is a regular art market critic and commentator on the Australian art market and has been interviewed by numerous media, including the 'Australian Financial Review', 'The Australian' and 'The Sydney Morning Herald'. He has also been interviewed on Network 10’s 'The Project', on the ABC’s Radio National Breakfast show with Hamish MacDonald, the ABC’s 'The Business' program amongst many others.

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