Iconic Picasso canvas tops $9 million at Heffel's fall auction

• Pablo Picasso's masterpiece canvas, Femme au chapeau sells for $9.1 million at groundbreaking Heffel auction
• Street, Alert Bay by Emily Carr becomes the second most valuable work by the artist to ever sell at auction at $2.4 million
• Heffel's fall auction sale total surpasses $22.4 million

TORONTO, Nov. 20, 2019 /CNW/ - International auction house and Canada's market leader Heffel held its semi-annual live auction today in Toronto where 113 works from around the world were offered in an overflowing sale room. Masterworks by Pablo Picasso, Emily Carr and Joan Mitchell led the auction and propelled the sale total to $22.4 million. Nearly half of Heffel's total sale result was made up of major works consigned from outside of Canada, underlining Canada's role as a rising star in the global art market, with Heffel leading the way. (All prices are in Canadian dollars and include a buyer's premium.)

Heffel’s fall auction was led by Pablo Picasso’s iconic Femme au chapeau, which sold for $9.1 million (CNW Group/Heffel Fine Art Auction House)

Emily Carr’s magnificent canvas Street, Alert Bay sold for $2.4 million at the Heffel auction (CNW Group/Heffel Fine Art Auction House)

Pablo Picasso's masterpiece canvas, Femme au chapeau captured the attention of art-lovers and collectors across the world, in the lead-up to the Heffel auction. Both visually compelling and historically significant, the 1941 work depicts Picasso's famous muse, Surrealist artist Dora Maar, and made its mark in Picasso's first commercial show at the Kootz Gallery in New York in 1957. The monumental painting sold for an impressive sum of $9,163,750 and became the most valuable work by a non-Canadian artist to ever sell at auction in Canada.

Another phenomenal result was achieved for Emily Carr's rare masterpiece, Street, Alert Bay, which sold for $2,401,250. The canvas, painted in 1912 upon Carr's return from an inspiring trip to France, depicts a First Nations BC village. An exceptional piece of Canadian history, it was an honour for Heffel to offer the work at auction and help it find a new home.

"We are delighted to have transformed Canada's auction market into a major international player," says David Heffel, President of Heffel Fine Art Auction House. "It's an honour to showcase works by Emily Carr and Canada's other greats to a global audience, alongside world-famous names like Picasso and Joan Mitchell."

Noteworthy results from the Fall 2019 Live Auction

• Canvases by Pablo Picasso are among the most sought-after works on the international art market, and his 1941 Femme au chapeau stole the show at Heffel's sale. Leading the auction, the painting sold for $9,163,750 (est. $8,000,000 – 10,000,000).
• Emily Carr's spectacular and expressive canvas, Street, Alert Bay became the second most valuable work by the artist ever sold at auction. The incredible 1912 painting sold for $2,401,250 (est. $2,000,000 – 3,000,000).
• More than 20 competing bidders propelled Joan Mitchell's Untitled canvas to an exceptional result of $1,051,250, far above its presale estimate of $300,000 to $500,000. The work by the world-renowned Abstract Expressionist painter saw significant interest from collectors across the globe.
• Competing bids drove the sale price for Barbara Hepworth's magnificent Maquette for Dual Form to $601,250 (est. $500,000 – 700,000). Hepworth's body of work is internationally acclaimed, and seven large iterations of this particular sculpture adorn public spaces around the world.
• Mountain Sketch LXX, a glowing oil on board by Lawren Harris, was consigned by actor and art collector Steve Martin and commanded $391,250 in the fall sale (est. $300,000 – 500,000).
• Shaft, a vibrant, large-scale canvas by Jack Bush fetched a strong result of $421,250 (est. $350,000 – 550,000). The work was consigned from the Estate of Blema and H. Arnold Steinberg, revered Canadian philanthropists.
• Significant paintings by members of the Group of Seven were offered, highlighted by A.J. Casson's incredible Morning on the Inlet , which sold for $301,250 (est. $250,000 – 350,000) and Arthur Lismer's circa 1923 – 1925 The Pine Tree, Georgian Bay, which sold for $229,250 (est. $80,000 – 120,000).
• Three very important works by A.Y. Jackson, consigned by the Art Gallery of Ontario, were led by the exemplary Laurentian Hills, Early Spring, which fetched $157,250 (est. $100,000 – 150,000).
• Spirited bidding for David Milne's 1916-1917 oil on canvas Snow Patches, Boston Corners helped the work secure a strong price of $301,250 (est. $250,000 – 350,000).
• Numerous artist records were achieved in the fall auction, including the sale of Silent in Our Beauty We Stand by Daphne Odjig for $121,250 (est. $30,000 – 50,000) and Bocour Blue by Ronald Martin for $85,250 (est. $30,000 – 40,000).
• Two iconic screenprints by Andy Warhol bested their presale estimates at the Heffel sale. Marilyn Monroe (Marilyn) (F.&S. II.23) sold for $217,250 (est. $125,000 – 175,000) and Mick Jagger (F.&S. II.142) sold for $73,250 (est. $40,000 – 60,000).

Heffel is currently accepting consignments for the spring 2020 auction season, inclusive of international works of art. The deadline for spring consignments is February 21, 2020.

For more information on the works included in 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 ext. 323 / 647-338-6707

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www.heffel.com