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Media Release
Vancouver - January 29, 2008
Based on the first Heffel Fine Art Auction of 2008, the Canadian art market looks to be on its way to another strong year. Heffel's January online sale has more than tripled results of the January 2007 sale with a total of $296,930. With the low end of the predicted presale estimates set at $159,400 on the 78 lots of Canadian works, the overall sale total was close to double the estimate.
"We regard our online auctions as a monthly look at the pulse of the Canadian fine art market," says David Heffel, president of Heffel Fine Art Auction. "Because of the outstanding results in our January sale, we are feeling extremely optimistic about a strong art market in 2008."
The average price per lot in the January online sale was close to double the price per lot in January 2007. A stunning 95% of the lots were sold. This is the highest sell-through success rate in the past two years for the Heffels, and much stronger than the sell-through at the recent major live auctions in Toronto in November 2007.
Buyers proved keen, pushing the bidding for a 12 x 15 inch sketch by painted by AJ Casson in 1968 to $46,000 (all prices include buyers' premium). It was estimated at $14,000 to $18,000. The $46,000 sale price is very strong for a late Casson sketch.
An oil on canvas by Vancouver artist Molly Bobak that was estimated at $6,000 - $8,000 sold for $25,875 and an 8 x 10 inch James Henderson oil on board estimated at $1,500 -$2,000 sold for $9,200. Records were set for works by Claude Picher, Arthur Lismer drawings and Jack Humphrey paperworks.
In recent years, Heffel's January online sales have proved to be the smallest sales of the year with a totals of $46,402.50 in 2005, $103,356.25 in 2006 and $96,420.50 in 2007.
"January tends to be a slower month for purchases, as buyers are traditionally recovering from spending in November and December," adds David Heffel. "On this sale, we had a strong injection of paintings from a prominent Montreal estate that helped make this the strongest January sale in our company's history."
The Heffel brothers often state that excellent sales results indicate a strong appetite for quality Canadian art. The Canadian economy remains strong in Western Canada, so it is not surprising to see the art market remaining strong and buoyant as well.
With their strong web presence and innovative online bidding, Heffel hastaken the traditional auction process and expanded the sale room to include bidders from around the world. Interest in Heffel's international fine art sales has expanded their presence overseas and in the United States. The number of international buyers and consigners is constantly expanding. With Heffel's record sale prices and the strength of the Canadian dollar, the auction house now attracts consignments from the United States and the UK. This year Heffel became the first Canadian-based auction house to have a representative in London England.
Heffel was a leader in the Canadian art auction field in 2007 with $50 million in sales. The Vancouver-based Heffel brothers have created a national fine art auction house with offices in Vancouver, Montreal, Toronto, Ottawa and London, England. The Heffels have the most experienced team of fine art specialists in the business, providing customers with the best opportunity for maximizing the value of their works.
Next on the Heffel's online auction block in February 2008 -- The Grosvenor School: Modern British Linocuts, featuring works by Canadian artist Sybil Andrews and fellow members of the Grosvenor School. Sybil Andrews is most noted for her linocuts done in the 1930s. She is among the few artists from British Columbia whose works are being collected internationally by private collectors and museums, including the MOMA and the Museum of Fine Arts in Boston. Early interest from collectors indicates that this sale will follow the trend set in the January sale.
Media Contacts:
- David Heffel, Heffel Fine Art Auction cel 604 418 6505
- Robert Heffel, Heffel Fine Art Auction cel 604 418 0100
January Sale totals (2005 - 2008)
January sales average price per lot (2005 - 2008)
Heffel's January Stats (2005 to 2008):
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Jan-05
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Jan-06
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Jan-07
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Jan-08
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Sale Total
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$46,402.50
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103,356.25
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$96,420.50
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$296,930.00
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Low estimate
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$45,600
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$71,800
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$65,800
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$159,400
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High estimate
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$60,600
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$101,250
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$91,100
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$220,150
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Percent sold
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59%
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79%
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71%
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95%
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# of lots
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61
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70
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51
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79
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Avg. price per lot
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$760.70
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$1,476.52
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$1,890.59
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$3,758.60
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Highlights from the recent sale are as follows:
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Lot # 002
MOLLY JOAN LAMB BOBAK
BCSFA CGP CPE CSGA CSPWC RCA 1922 - Canadian
Summer Bouquet
oil on canvas, signed and on verso signed and titled
40 x 30 in, 101.6 x 76.2 cm
Provenance:
Private Estate, Montreal
Estimate: $6,000 ~ $8,000 CAD
Final Bid: $22,500 CAD
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Lot # 011
JACK WELDON HUMPHREYCAS
CGP CSGA CSPWC CSW EGP 1901 - 1967 Canadian
A Backwater, Worden Brook
gouache on paper, signed twice and on verso titled, dated October 17, 1966 and inscribed "casern gouache / #49"
22 x 30 in, 55.9 x 76.2 cm
Provenance:
Galerie Walter Klinkhoff Inc, Montreal
Private Estate, Montreal
Estimate: $600 ~ $800 CAD
Final Bid: $3,000 CAD
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Lot # 017
ARTHUR LISMER
CGP CSGA CSPWC G7 OSA RCA 1885 - 1969 Canadian
Forest Scene
ink and charcoal on paper, signed twice, dated 1963 and inscribed "July 7, 1958"
12 x 14 1/2 in, 30.5 x 36.8 cm
Provenance:
Private Estate, Montreal
Please note: this work is unframed.
Estimate: $1,000 ~ $1,500 CAD
Final Bid: $3,000 CAD
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Lot # 022
JOSEPH FRANCIS PLASKETT
BCSFA OC RCA 1918 - Canadian
Nasturtiums with Three Figures
oil on canvas, signed and dated 1972
39 x 19 1/2 in, 99 x 49.5 cm
Provenance:
Galerie Walter Klinkhoff Inc., Montreal
Private Estate, Montreal
Estimate: $5,000 ~ $7,000 CAD
Final Bid: $12,000 CAD
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Lot # 101
A.J. (ALFRED JOSEPH) CASSON
CGP CSPWC G7 POSA PRCA 1898 - 1992 Canadian
Barns at Harrington, Quebec
oil on board, signed and on verso signed, initialed, titled twice and dated 1968 twice
12 x 15 in, 30.5 x 38.1 cm
Provenance:
Roberts Gallery, Toronto
Private Collection, Ontario
Estimate: $14,000 ~ $18,000 CAD
Final Bid: $40,000 CAD
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Lot # 111
JAMES HENDERSON
1871 - 1951 Canadian
Winter Road
oil on board, signed
8 x 10 in, 20.3 x 25.4 cm
Provenance:
Private Collection, Vancouver
Estimate: $1,500 ~ $2,000 CAD
Final Bid: $8,000 CAD
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Lot # 118
DAPHNE ODJIG
FCA OC 1928 - Canadian
The Three Hitchhikers
ink, watercolour and pencil on paper, signed and dated 1978
14 x 12 in, 35.6 x 30.5 cm
Provenance:
Private Collection, Seattle
Estimate: $600 ~ $800 CAD
Final Bid: $5,000 CAD
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Lot # 120
FRANK SHIRLEY PANABAKER
ARCA 1904 - 1992 Canadian
Lone Pine, Georgian Bay
oil on canvas board, signed and on verso titled on the stretcher
11 x 14 in, 27.9 x 35.6 cm
Provenance:
Private Collection, Toronto
Estimate: $2,500 ~ $3,500 CAD
Final Bid: $7,000 CAD
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Lot # 123
CLAUDE PICHER
ARCA 1927 - 1998 Canadian
Automne
oil on canvas, signed and on verso signed and dated 1995
30 x 40 in, 76.2 x 101.6 cm
Provenance:
Private Collection, Vancouver
Please note: this work is unframed.
Estimate: $2,500 ~ $3,000 CAD
Final Bid: $6,500 CAD
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