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IN THIS ISSUE … IN FOCUS MEDIA VIEW TOP PERFORMERS SMART ART MARKET WATCH COMING UP |
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Jeffrey Makin
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Dear Subscribers, This issue of Art Insight marks the first anniversary of the publication. For the past twelve months, subscribers have viewed the trends in the Australian art market coupled with analysis and critical discussion of exhibition and artworks from contributing experts. This month, Jeff Makin's landmark exhibition Terre Australis opened at Barrack Gallery @ Art Equity. The selection of major paintings from around Australia acknowledged the debt that Australian culture owes to the landscape tradition that has its European genesis manifested in the works of Glover, Roberts and more recently Williams. Terra Australis' success to date is also testament to the rise and rise of one of Australia's most significant and influential artists. As the year draws to a close, there are still plenty of exciting happenings at the Barrack Gallery. Next month we will pay tribute to one of Australia's most renowned and loved artists, Pro Hart, who is remembered for his narrative storytelling of Australian culture. We wrap up the year with a Christmas Collection to celebrate Art Equity's achievements in 2006. I look forward to seeing you. Ralph Hobbs Art Director
Jeff Makin, Storm over Lake
St Clair 2006, Oil on canvas,
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Jeff Makin, Lonesome Emu Kununurra 2006, Oil on linen, 153 x 153cm detail (*sold)
Jeffrey Makin’s exhibition Terre Australis marks an important point in the artist’s long and illustrious career to date. The major survey of the Australian landscape delivers pure aesthetic power and exhibits the artist’s remarkable skill. It is a demonstration of an artist at the height of his powers. Makin is one of Australia’s foremost practicing artists, who over decades of institutional curatorial recognition has carved an important and unique place in current Australian painting. He is an artist, though his generosity and knowledge has and continues to have a profound influence on successive generations of artists. The paintings of Terre Australis simply command the audience’s attention. The works are the major moments in the Australian landscape. They are paintings that capture the imagination. From the power of the Southern Ocean in Cape Pillar, to the vastness of Running Emu, Lake Eyre, the viewer of Terra Australia is then transported to the subtle treatment of the sublime tradition of the Lake St. Clair paintings. Makin’s place amongst the landscape legacy of Australian artists is assumed. The academic structure of his imagery, coupled with the direct referencing of the essence of the landscape by Glover, Roberts and Williams continues the linage of a truly Australian vision. Significantly, the artist’s extensive repertoire continues the
tradition of influence of European and American has had on
Australian culture. Frederic Edwin Church’s, grandiose American
visions, J.W.M Turners exquisite sublime and more recently David
Hockney’s fearless portrayal of A Bigger Grand Canyon,
place Makin in an aesthetic historical context and company that
extends well beyond the shores of Australia Felix.
Ralph Hobbs, 2006
Terre Australis is showing at Barrack
Gallery@Art Equity until Friday 3rd November 2006. |
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John Olsen's Love in the Kitchen, an
oil on canvas painted in
Andrew McIlroy, Silent Seascape, Oil on canvas, 122 x 137cm (Available)
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Paint by Numbers The experts agree that the
boom is set to continue. Mark Fraser, the managing director of
Sotheby's Australia, predicts that there will be many more surprises
in the Australian market over the next few years. "It's not
fully priced - one could argue the whole market is undervalued," he
said after the August sales. "Once new benchmarks are set, new, exciting and important work emerges on the market. We are very optimistic that there'll be more where that came from." (Excerpt)
By James Cockington, The Sydney Morning Herald - Money
Art splurge: $1m Olsen
By Katrina Strickland, The Financial Review (Saleroom)
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George Gittoes recounts the harrowing story of
The Preacher to
Jeff Makin alongside his painting of
Little Bay, commissioned by Landcom for their international
advertising campaign. The
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George Gittoes, B.O.S, Acrylic on Linen, 120 x 180cm (*sold)
Jeff Makin (left) in discussion with clients at the opening of Terra Australis on Thursday 19th at Barrack Gallery
Jeff Makin, Yarra Glen Pastoral,
2006
Anke Stäcker, Somewhere in the City, 2003 Photograph, 80 x 120cm (*Available) |
LOCAL ART MARKET 2006 will undoubtedly go down in history as a watershed year in Australian art. The market has moved to a new level not only in terms of sales and record prices but the marked increase in new buyers and collectors. This trend is echoed in art markets around the world. The demographic of art collectors continues to broaden with many more young buyers (20's and 30's), and investors who are seeking an alternative to mainstream markets. Infact the public attendance at Victorian art galleries has risen 14 per cent over the last two years (Sun Herald, 22 October, 2006) In 2006, there have been no less than 76 new auction records across Aboriginal and non-Aboriginal art. This figure includes videography and sculpture. Three of the top 10 auction prices in Australia's history have been made this year. These include: 1. John
Brack, The Bar - $3.1 million (Sotheby's April 06)
5. Fred
Williams, Upwey Landscape - $1.89 million
(Christie's April 06) Some other new artist records achieved at auction this year include: John Olsen, Love in the Kitchen - $1.093 million (Mossgreen, Oct 06) -record for a living Australian artist (*see below) Charles Conder, Hot Wind - $936,000 (Sotheby's April 06) Roy De Maistre, New Atlantis - $630,000 (Sotheby's April 06) Robert Klippel, Opus 361 - $507,800 (Christies March 06) -record auction price for sculpture in Australia Rosalie Gascoigne,
All that jazz - $384,000 (Deutscher-Menzies, March 06)
-------------------------- Melbourne based Mossgreen auctions achieved a new record price for a living Australian artist at the sale of Rosemary and Nevin Hurst's collection in Hobart on Sunday 15th October. John Olsen's Love in the Kitchen, an oil on canvas painted in 1969 (213 x 199cm), sold for $1.093 million. This is nearly double the artists' previous highest auction record. The painting was bought by the vendors for $486,000 and they expected to fetch between $400,000 and $600,000 for its sale on the 15th. The work will now reside in a private collection in Melbourne. Commenting to Art Equity, Director of Mossgreen, Paul Sumner said "there were 6 bidders over the $600,000 mark which demonstrates the strength of the Australian art market."
Joel Fine Art held their inaugural sale in their Melbourne premises on October 18th. Almost half of the 206 paintings and sculptures were passed in but some high end lots achieved some solid results. A total of $1.9 million was reached - a result that Joels were satisfied with as they vie for share of the market up for grabs since the exit of Christie's Australian division.
Charles Blackman, Girl Reading 1954, sold for 115,000 against an estimate of $60,000 - $80,000. Grace Cossington Smith, Ballet from the Gods Circa 1940, sold for $75,000 against an estimate of $30,000 - $50,000.
INTERNATIONALART MARKET
Christie's in New York held its fourth “First Open,” an auction of contemporary art that targets new collectors. The September 14th sale realised $8.4 million. Of 284 lots on offer, 77 percent, or 219 works, found buyers. By value the auction was 90 percent sold. The total was up more than $2 million from the 2005 auction - a clear indicator of the growth in the new collector market.
ArtPrice.com sums up the 2006 Contemporary Art Market..... "Contemporary Art is indeed currently the most dynamic segment of the market in general. With a wider audience every year and collectors increasingly focusing on this segment, the prices negotiated at the fairs and auction rooms are constantly rising. Photography is currently the hottest medium. Over the period January 1996 – September 2006, the price index for photographs by artists born after 1945 has risen 262% whereas their sculptures and paintings have inflated by 156% and 158% respectively. Their prints have gained only 33% over the same period. " ArtPrice.com
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Jeffrey Makin, Bungle Bungles
2006, Oil on canvas,183 x 122cm
(*Available)
Jason Benjamin, Say it's not too late, Im almost there, 2006, etching (*Available)
Makinti Napanangka, Kungka Kutjara, Acrylic on linen, 121x123cm
Dorothy
Napangardi Mina Mina, detail, Acrylic on linen
Jeffrey Makin, Margaret River, Western Australia 2006, Oil on canvas,122x153cm (*Available)
*Available from Art
Equity at the time of publishing
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