Fine Art Auction Houses In North America
Christie’s, Sotheby’s and Heffel House are a few North American choices when it comes to attending a fine art auction. One needn’t travel all the way to England to find that next masterpiece. Despite a shaky economy, Americans are proving that their love for timeless art pieces has not diminished at all. The trends, in fact, are au contraire!
The fine art auction thrives today, despite the emergence and subsequent popularity of online auctions on eBay. Many bidders still love the wine samples, the dressing up, the perusing a physical gallery and the social aspect of attending an auction in person. Many of Christie’s North American fine art auctions reel in 6,000 to 7,000 eager participants and finish with millions in net gains.
A recent Christie’s art auction in New York City reeled in close to $395 million in net gains, despite having not sold a few of the reserves. Big sellers included Matisse’s "L’Odalisque, harmonie bleu" (1937) which went for a record $33.6 million dollars, following a bidding war. Also, Pablo Picasso’s "Femme accroupie au costume turc (Jacqueline)," painted in 1955, sold for $30.8 million dollars and his "Homme a la pipe" reached $16.8 million. "The enduring importance of works of art as a stable and consistent store of cultural and economic values was demonstrated in tonight’s dazzling sale," said Marc Porter, the head of Christie’s America. Hence proving that to buy original art, as an art investment, is alive and well.
Similarly, the Canadian art auction set for November 23, 2007 is expected to draw a large crowd and record breaking sales. There were encouraging signs at Heffel’s fine art auction last May: a Lawren Harris painting ("Pine Tree and Red House") sold for $2.85 million, an Emily Carr fetched for $1 million, and the total sales reached $22.8 Million, which nearly doubled the previous Canadian record! At the next auction, Heffel will be selling 19 other works by Lawren Harris and 8 rare pieces done in 1912 by Emily Carr, in addition to seven Tom Thomsons, three E.J. Hugheses, five Maurice Cullens, four Jean-Paul Riopelles, seven Frederick Varleys and eight A.J. Cassons. Just this November, a woman discovered that a painting she had salvaged from her grandmother’s estate sale decades earlier, was actually a rare Tom Thomson estimated at $250,000 to $350,000! This artwork will also be featured at the auction. The Heffel auction hopes to fetch $13 million to $18 million for its 236 lots.
Collecting art is a wonderful hobby that could cost a couple hundred dollars or a couple of million! A fine art auction is the ideal way to browse various artists like a museum, but also purchase the most fanciful. In addition to making a great conversation piece and creating ambiance in one’s house, a good painting can make a great keepsake and art investment to pass down to future generations.
Published by Collectibles Editor
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