Art Market Buoyed by deutscher and hackett Clearance Rates

deutscher and hackett’s fine art auction concluded in Melbourne last night, achieving the solid result of $5.77m. Clearance rates of 74% by volume and 73% by value for the 268 works positioned the company as the strongest performer in the August round of art auctions.
 
Following negotiations after the first auction night, John Brack’s masterpiece The Boucher Nude, 1957 sold to one of several interested parties for the 4th highest price ever achieved for a John Brack painting.
The work was purchased by Stuart Purves, Australian Galleries, on behalf of a private client, for $1,500,000,

Paintings by modern masters were again in demand with impressive results achieved including Brett Whiteley’s View From The Window, Bali, 1978 which sold for $336,000, and another Whiteley work Cheetah or Cheatah (Animal or Life), 1965, realising $132,000, Sidney Nolan’s Diver, brought $132,000 and Charles Blackman’s Room At Twilight, c1963 also sold for $132,000.

Two superb Lloyd Rees landscapes attracted widespread interest with Afternoon in Tuscany (Tuscan Journey No. 2) c 1953 selling for $180,000 and The Road Outside the Walls, San Gimignano, 1960, realising$120,000.

Six new auction records were set including: Imants Tillers, La Citta Di Riga, 1987, sold for $55,200, Eileen Mayo, Lobster Pot, early 1940s, achieved $43,200, an Ethel Spowers colour linocut, Wet Afternoon, 1930, soared to $26,400 and Savanhdary Vongpoothorn, Rock and Sky, 2003, sold for $21,600.

Major landscapes from the Heidelberg School master and auction room favourite Arthur Streeton attracted spirited bidding with two of the artists’ works featuring in the Top Ten highlights. See overleaf for details.

Chris Deutscher, Executive Director, Melbourne said, ‘We had anticipated a market correction, and wherever possible priced works attractively - in light of this, we were particularly pleased with our clearance rates, both by value and volume, which were the best of any auction house for the week. It was also pleasing to see that good, quality works, sensibly priced, still fetched strong results.’

deutscher and hackett will hold its final auction for 2008 in Melbourne on 26 November.

For further information contact Julie King - 0412 666 300 or 03 9865 6333
jking1@bigpond.net.au