Media Release

Riopelle Paintings Lead Way in Heffel's
$12.6 Million Dollar Fine Art Auction

Toronto, ON, (November 19, 2008, 10:00 p.m. EST)

Heffel Fine Art Auction House recorded one of its highest Canadian auctions tonight at Toronto's Park Hyatt Hotel. The auction - which was broken into two separate sessions - landed in its presale estimate of $12 to $16 million, selling $12.6 million worth of Canadian art in total.

The highest price painting for the night - the third highest price for a Jean-Paul Riopelle work - was set during the first session of Heffel's Fine Art Auction when a drip painting sold for $1,638,000. Sans titre (Composition #2), a rare 50 x 64 inch canvas, was painted at the height of Riopelle's career in 1951. This complex and powerful work is now the number one selling Riopelle of all time and attracted million dollar-plus bids from two phone bidders in the first part of the Fall auction.

Riopelles' Self, an oil on canvas, was another top selling painting in the first session, with a sale price of $468,000. There are three known self portraits painted by Riopelle and this is the only one painted on canvas.

Additional highpoints in the first session included an exceptional abstract by Paul-Emile Borduas titled Mazurka that sold for $327,600 and a gigantic acrylic on gouged plywood titled Full Circle Flag Effect by William Paterson Ewen that sold for $468,000 (all prices include 17 per cent buyers premium). The extremely large plywood piece is considered one of Ewen's best works, and illustrates his ability to gouge drawings into wood as well as his exploration of natural phenomenas.

In total, there were 89 lots in the first sale, and 10 per cent - nine paintings - sold for more than six-figures each.

For the first time in their history, Heffel Fine Art Auction hosted a stand alone sale of Canadian Post-War & Contemporary Art. The sale set a Canadian sales record for post war contemporary art with a sales total of $5.1 million. The second session, the Fine Canadian Art sale, started at 7 p.m. EST and had a sales total of $7.5 million.

"Heffel's is committed to developing the auction market for Canadian Post-War & Contemporary Art and its rapidly expanding market. This commitment led us to dedicate the first session of today's auction to Canadian works post-1945," says David Heffel, principal of Heffel Fine Art Auction House. "Tonight represents another historic night for us with Riopelle's record-breaking work and our decision to host two distinct sales. In both sessions, it was a pleasure to preside over so many exciting battles for paintings."

In the second session - Fine Canadian Art - a large striking Emily Carr oil on canvas was the showstopper. After an intense bidding war, Alert Bay Burial Ground sold for $1,053,000 million. This is the third Emily Carr painting to exceed the $1 million barrier, all sold by Heffels. The piece illustrates Carr's thorough understanding of indigenous iconography and how she was able to master the balance between the wildness of the forest and the complexity of First Nations content in her work.

Tom Thomson's Autumn Tapestry, an 8-1/2 x 10-1/2 inch oil on panel, went for $936,000. Another smaller 5 x 7 inch oil on panel from fall 1915 - Sunset, Canoe Lake - sold for $702,000.

A.Y. Jackson works also faired well in the sale. There were 16 works by the Group of Seven artist, including Winter Afternoon - a large painting (25 x 32 inches) depicting birch trees in winter. The canvas, which has a National Gallery of Canada accession stamp, sold for $760,500. This set a new record sale price for the artist.

Another auction highpoint was lot 153, JEH MacDonald's On Mongoose Lake sold for $198,900. Additionally, Arthur Lismer's Winter Landscape sold for $117,000.

"Tonight demonstrates the Canadian art market continues to be strong," says Robert Heffel, principal of Heffel Fine Art Auction House. "For both sales - Canadian Post-War & Contemporary Art, and Fine Canadian Art - we had bidders from across Canada, the United States, Europe and Asia. On the phone and in the room, art enthusiasts fought fiercely over most lots."

The complete list of the top 10 paintings for both sales - plus the list of new Canadian fine art records follow. High resolution images of the top paintings in this sale are cleared for media use and can be downloaded from the newsroom at www.heffel.com

The Fall auction showcased 222 Canadian works in total. Information on the pieces and artists can be also be found at the Heffel web site.

Top Ten Paintings Sold - Heffel's two sessions- November 19, 2008

Below is a list of the top 10 highest selling paintings from Heffel's Post-War & Contemporary Art Auction and the Fine Canadian Art Auction combined. All prices include the 17 per cent buyers premium added to the hammer price.

1. Jean-Paul Riopelle - Sans titre (Composition #2)
Lot 55 - oil on canvas - $1,638,000

2. Emily Carr - Alert Bay Burial Ground
Lot 184 - oil on canvas - $1,053,000

3. Tom Thomson - Autumn Tapestry
Lot 122 - oil on panel - $936,000

4. A.Y. Jackson - Winter Afternoon
Lot 119 - oil on canvas - $760,500

5. Tom Thomson - Sunset, Canoe Lake
Lot 126 - oil on panel - $702,000

6. William Paterson Ewen - Full Circle Flag Effect
Lot 34 - acrylic on gouged plywood- $468,000

7. Jean-Paul Riopelle - Self
Lot 28 - oil on canvas - $468,000

8. Clarence Alphonse Gagnon - Campo Siena
Lot 169 - oil on canvas - $351,000

9. Paul-Émile Borduas - Mazurka
Lot 57 - oil on canvas - $327,600

10. Edward John (E.J.) Hughes - Early May at Qualicum Beach
Lot 14 - oil on canvas - $304,200

Combined New Records set in the two Heffel Fine Art Auctions - November 19, 2008
These are the new records set at today's Heffel Post-War & Contemporary Art Auction and Fine Canadian Art auctions. All prices include the 17 per cent buyers premium added to the hammer price. The revenue record for the two auctions combined is $12.6 million, the third largest auction in Canadian history.

Charles Gagnon
Lot 11 - Sonde vert etape 2 - Feeler Green Stage 2
Previous record: $6,000 hammer tie with new BP would break record (Heffel record)
New record: $38,025

William Ronald
Lot 17 - Drumbeat
Previous Record: $47,500 hammer tie with new BP would break record (Heffel record)
New record: $163,800

Ulysse Comtois
Lot 26 - Ydra
Previous record: $2,750 hammer tie with new BP would break record (Heffel record)
New record: $29,250

William Paterson Ewen
Lot 34 - Full Circle Flag Effect
Previous record: $170,000 hammer tie with new BP would break record
New record: $468,000

David Blackwood
Lot 48 - (Cod) Splitting Table
Record for a painting: $8,000 hammer tie with new BP would break record (Heffel record)
Previous record: $22,000 hammer tie with new BP would break record
New record: $26,325

Takao Tanabe
Lot 59 - Inside Passage Leaving Lama Pass
Previous record: $25,000 hammer tie with new BP would break record (Heffel record)
New record: $38,025

Miyuki Tanobe
Lot 80 - Annee de la femee - 1975 Women's Year
Previous record: $8,500 hammer tie with new BP would break record
New record: $32,175

Kenneth Campbell Lochead
Lot 84 - Yellowscape
Previous record: $12,000 hammer
New record: $14,625

W. J. Phillips
Lot 117 - Mamalilicoola
New Record: $23,400

AY Jackson
Lot 119 - Winter Afternoon
Previous Record: $525,000 hammer tie with new BP would break record (Heffel record)
New Record: $760,500

Emily Coonan
Lot 149 - Evelina
Previous Record: $22,500 hammer
New Record: $46,800

Frederick Banting
Lot 189 - Rooftops, Quebec City
Previous Record: $37,500 hammer tie with new BP would break record (Heffel record)
New Record: $76,050

Heffel Fine Art Auction House - Canada's National Fine Art Auction House