HomeNewsArt News Australian Art Auction Coup Amid Disappointment
Australian Art Auction Coup Amid Disappointment
Written by Australian Art Market Blog
Saturday, 23 May 2009
On the 6th of May auction house Bonhams and Goodman pulled off what can only be described as a major coup when they achieved 127% sold by value and 78% sold by volume selling 42 works of art for just over $2.4 million ($2.88 million including buyers premium) despite 22 pictures being withdrawn at the last minute due to a court order.
The value of those 22 withdrawn works was $2,216,000 using the mid estimate for each work and included what was the most valuable work in the auction, a Frederick McCubbin painting titled ‘Midsummer Eve’ which had an estimate of $800,000 - $1,200,000.
