2012: A Strong Year for the Art Market

All indications are that 2012 is on its way to another strong year for the Canadian and International Art Markets. The February 2012 online sale is has achieved the strongest numbers of any February online sale to date, totalling $459,000 against a pre-sale estimate of $270,000 - $370,000, up from the 2011 February result of $160,231. Yesterday's sale saw 91% of lots sold which is an excellent success rate.

This market trend is consistent internationally; The recent February Post War and Contemporary evening sales in London are also up over last years results.

Emily Carr
Comunity (sic) House, Quatsino, BC

The highlight was an early Emily Carr watercolour entitled Comunity (sic) House, Quatsino, BC which sold for a final price of $140,400, seven times the pre-sale low estimate of $20,000 - $25,000. Heffel set the record for a Carr watercolour last fall at the November 24, 2011 auction in Toronto, having sold the 1908 War Canoe, Alert Bay for $1,228,500.

Heffel has taken the traditional auction process and expanded the sale room to include bidders from around the world. Heffel's sales and marketing process have been adapted to fit today's modern Internet technology and pace of the online marketplace, thus generating unparalleled collector participation in their sales.

The single most valuable painting sold online to date was Zao Wou-ki 5.11.62, which achieved $718,750 in April 2007.

Heffel is still accepting consignments for the May 17th Two-session Live auction of Fine Canadian Art and Canadian Post war and Contemporary Art and April International sales.

Next on the auction block, in March 2012: Canadian Post -War and Contemporary Art featuring works by Jack Shadbolt, Guido Molinari, David Bierk, Lise Gervais, Takao Tanabe, Gordon Smith and Jack Bush, among others.

About Heffel Fine Art Auction House

Heffel has sold more Canadian art than any other auctioneer worldwide, with over $300 million in art auction sales since 1995, and has conducted the most valuable live auctions of Canadian art. Heffel is led by the most experienced team of fine art specialists in Canada. With offices and representatives in Vancouver, Toronto, Ottawa, Montreal and Calgary, Heffel provides superior client services to both sellers and buyers nationwide. In addition to full-colour printed catalogues, Heffel publishes its entire live auction online at www.heffel.com, from initial promotion and illustrated lot listings, to the auction's live multi-camera webcast and final sale results.

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