- Art market leader offered more than 100 masterworks at a live auction in Toronto on May 30 which surpassed $14.1 million
- Monumental canvas by internationally renowned Quebec artist, Paul-Émile Borduas, reaches strong sale price of $3,601,250
- Painting by the legendary Tom Thomson, rediscovered in an Alberta basement, achieves $481,250
TORONTO, May 30, 2018 /CNW/ - Art market forerunner, Heffel Fine Art Auction House, held its semi-annual live auction today in Toronto featuring 118 incredible works of art from around the world. Masterpieces by Paul-Émile Borduas, Tom Thomson, Jack Bush and Lawren Harris were among the highlights in the sale, and led the sale total to a noteworthy $14.1 million. The strong results in today's sale confirm the buoyancy of the current market and the appetite for a wide spectrum of international masterpieces. (All prices are in Canadian dollars and include a buyer's premium.)
Paul-Émile Borduas' highly anticipated Figures schématiques, the 1956 masterpiece canvas, led the spring auction with a final sale price of $3,601,250. Arguably the most acclaimed example from the artist's catalogue raisonné, the monumental work set a new record for the artist. First purchased from the artist by the Martha Jackson Gallery in New York, it has since been exhibited around the world.
With one of the most exciting backstories in Heffel auction history, Tom Thomson's Sketch for Lake in Algonquin Park did not disappoint at today's sale. The painting was consigned from a woman in Edmonton who, for all her life, never believed her father's Tom Thomson was real. Months ago, she gave it as a gag gift to a friend, who then brought it in to Heffel for appraisal. She was pleasantly surprised when its authenticity was confirmed, and the rest is history. Participation from a number of bidders on the phones and in the Toronto auction room propelled the final sale price for the important sketch to $481,250, more than three times its presale estimate. The two friends will be taking a Mediterranean cruise with the profits.
"There is always bit of magic on the auction floor, and tonight it was brought by the Tom Thomson that until recently was tucked away in a basement," said David Heffel, President of Heffel Fine Art Auction House. "We believe that the results generated and this uplifting story will remind enthusiasts and collectors that there are still outstanding works of art to be discovered and enjoyed."
Noteworthy results from the Spring 2018 Live Auction
- The outstanding Paul-Émile Borduas 1956 masterpiece canvas, Figures schématiques, sold for $3,601,250, shattering the previous record for the artist.
- Tom Thomson's Sketch for Lake in Algonquin Park was recently rediscovered by a woman from Alberta and her optimistic friend. After significant bidder participation, the painting, which relates to a significant canvas by the artist, sold for $481,250 (est. $125,000 - 175,000).
- Strawberry, the energetic large-scale canvas by internationally collected Jack Bush set a new and impressive artist record and sold for $691,250 (est. $350,000 – 450,000).
- Two significant works by Quebec-born Jean Paul Lemieux reached impressive heights in the Post-War & Contemporary Art session. Le Cavalier dans la neige sold for $841,250 (est. $700,000 – 900,000) and Le temps retrouvé - Kent House 1913 for $391,250 (est. $200,000 – 300,000).
- Morning, Lake Superior by Group of Seven founder Lawren Harris sold for a well-deserved price of $1,141,250 ($100,000 – 150,000), nearly ten times its presale estimate. The small, but inspiring work is a preparatory sketch for a pivotal canvas by the artist, hanging in the Montreal Museum of Fine Arts.
- Significant interest in Emily Carr's Sophie Frank drove the sale price for the rare and important watercolour to four times its presale estimate at $277,250 (est. $50,000 – 70,000).
- Works by artists from around the world drew spirited bidding from the saleroom and telephones. An untitled acrylic on paper by Sam Francis sold for $169,250 (est. $25,000 – 35,000), The Friendly Well by Jack Butler Yeats sold for $229,250 (est. $100,000 – 150,000) and T1950-57 by Hans Hartung sold for $205,000 (est. $70,000 – 90,000).
- Robert Pilot's superb Quebec City from Lévis sold for $337,250 and broke the artist record (est. $50,000 – 80,000).
- Works by several members of the Group of Seven were offered in the spring auction, including A.J. Casson's stunning Farmhouse Near Wingle. The celebrated canvas achieved a noteworthy $541,250 (est. $150,000 – 250,000).
- Five artist records were broken in the spring auction including the sale of AC-64-3-A by William Perehudoff for $85,250 (est. $25,000 - $35,000) and Patinoire à Québec d'autrefois by John Little for $58,250 (est $15,000 - $25,000).
Heffel is currently accepting consignments for the fall 2018 live auction in Toronto, inclusive of international works of art. The deadline for fall consignments is August 2018.
For more information on the pieces included in this Heffel's fall live auction, visit www.heffel.com.
About Heffel Fine Art Auction House
Heffel has sold more Canadian art than any other auctioneer worldwide, with sales totaling more than half a billion dollars since 1978. With offices in Toronto, Vancouver, Montreal, Ottawa and Calgary, Heffel has the most experienced team of fine art specialists in Canada and provides superior client service to both sellers and buyers internationally.
SOURCE Heffel Fine Art Auction House
For additional information, to schedule an interview, or for images and b-roll, please contact: Rebecca Rykiss, Heffel Fine Art Auction House, [email protected], 416-961-6505 / 647-338-6707
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