By DON MILNE
How much are buyers prepared to pay for works by living New Zealand artists?
It depends on the artist, of course. But Peter Webb Galleries were sure they had hit a record last month when a late entry by Bill Hammond - one of the triumvirate of living top
sellers with Ralph Hotere and Pat Hanly - sold for $160,000 ($178,000, taking 10 per cent buyer's premium and GST into account).
Pretty good, considering the estimated price was from $85,000 to $120,000. Called Living Large 7 and painted in oils on loose canvas, this large wall hanging drew much attention at the viewing.
Even people who are not attracted to Hammond's intense, mysterious work admired it as a major work.
But a record for a living artist? Not so, said the Auckland agent for Billy Apple. Apple, he said, had sold a work (a diptych titled 2 for 25) to Te Papa last year for $206,250. The price has been confirmed by Te Papa.
Apple is an artist whose works rarely come up at auction but are said to sell for $20,000 to $30,000 through his agent. His highest price at auction, according to International Art Centre records, is $1650.
His apparently simple works are often heavily ironic comments on the art market, much admired by higher elements of the art world. One wonders if Te Papa saw this as the ultimate irony - paying a record price for a work by an artist whose reputation has been largely based on his attitude to art as a commodity.
Many people in the commercial art world, however, would say that what Te Papa pays for a work is not really a guide to the art market. Remember the two Goldie paintings bought in Britain some years back? Good works, true, but the national museum paid far more for them, most dealers said, than would have been fetched at auction.
It can be argued the only true prices are those set at auction. Bidding is open and the public and the highest bidder sets the benchmark.
True, buyers tend to be anonymous, and most like to remain so. But once the sale has been completed, if the buyer is a public body, then it should reveal the fact, so we know what is being spent on our behalf. Shouldn't the same apply for private sales to public institutions?
Coming up:
Webb's has an affordable art sale (from $100 to $5000) on February 12, with its first major art, jewellery and antiques sale on March 19, 20 and 21.
Cordy's first art and antiques sale will be on February 19.
By DON MILNE
How much are buyers prepared to pay for works by living New Zealand artists?
It depends on the artist, of course. But Peter Webb Galleries were sure they had hit a record last month when a late entry by Bill Hammond - one of the triumvirate of living top
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