Goods and Services, install view in Auckland.
In early July, Webb’s held the sensational single–vendor auction Goods and Services: Modern and Contemporary Art from a Private Collection. This stunning collection of artworks by many of the nation’s finest artists produced a remarkable set of results.
Two works by the incomparable Bill Hammond were the stars of the show. Wishbone Cave, an exquisite work from 2010, achieved the highest price of the auction, finding a buyer at $446,850. It was closely followed by the titular Goods and Services, a 2013 work that reached a price of $418,250. These two distinctive works by the late master painter highlighted his brilliance, and the enduring appeal of his artwork. Hammond is one of the nation’s all-time greats, and his artistic legacy will continue to inform and influence art in this country for decades to come.
Other highlights from the auction include: Liz Maw’s Lady Kathryn and I, which was subject to intense bidding before the hammer came down at $110,500; Robin White’s Michael at Julie’s Place, which sold for $113,525; and Gordon Walters’ stunning ink on paper, Koru, which sold for $101,575 – remarkably, this work was started in 1959 and finished in 1973.
The sale total for the auction was $2,000,000 – a result indicative of an enduring market appetite for exceptional works of art by New Zealand’s finest artists. Recent years have seen insatiable demand for such works, with collectors and investors seeing significant value in acquiring quality cultural assets. Many have cottoned on to the fact that, as well as being a strong investment class, art has the added value of aesthetic enjoyment.
Liz Maw, Lady Kathryn and I, 2011, oil on board, 1515 x 1115mm.
Price realised $110,500.
Goods and Services was the second iteration of two auctions from the same vendor. Late last year, Webb’s represented the same collection with Melting Moments: A Private Collection of Contemporary Art. The strength of the two auctions showcased the singular vision and thirst for excellence of the collector, who had set about compiling one of the finest and most distinctive collections of modern and contemporary art in the country.
Goods and Services and Melting Moments realised a combined sale title of $5.9 million, one of the strongest ever auction results in New Zealand history for a single–vendor collection. Many of the works in the pair of auctions were standout examples from important periods in the artists’ careers. They had shown in public galleries and featured in key publications. The extraordinary results achieved for this collection amply demonstrate the value of disciplined and purposeful acquisition of modern and contemporary art.
Market appetite remains strong for exceptional art. If you are considering bringing your collection to market, get in touch with Webb’s team of specialists for an obligation– free appraisal.