New record prices for Canadian art

Paintings by two of Canada’s most beloved artists, Tom Thomson and A. Y. Jackson made record prices for Canadian art at Sotheby Canada’s/Ritchie’s spring auction on May 30, in Toronto. An overall sale of 186 lots (of 205 offered) went for close to $6.9 million, including premium.

The Thomson, a small autumnal oil sketch of an Algonquin Park scene done on a wood panel (1916) was sold for $370,000 ($428,000 including buyer’s premium). A winter scene on a large canvas done by Jackson around 1924 «In Jasper Park», estimated to fetch 200,000-$250,000, went for $475,000 ($548,750 with premium), breaking the old auction record of $368,000 (with premium) set last year by Vancouver-based Heffel Fine Arts.

The painting that went into the sale with highest estimate – «Eight Red Houses» (1926), a large oil by Lawren Harris valued at $400,000-$600,000 got a top bid of only $275,000 and was withdrawn from sale. But this was probably the only disappointment of the event as it saw at least 10 paintings hammered down for $100,000 or more. By the way, the «Eight Red Houses» managed to find a private buyer a few hours after the auction. The painting was sold for close to $400,000.

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Published in: on June 2, 2005 at 5:38 am  Leave a Comment  
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