Webb’s foreclosure auction crosses $ 1 million mark
The insatiable appetite of New Zealanders for exceptional art transcends constraints. With the foreclosure conditions in place, Webb’s went out of their way to make this auction a reality. This is one of our most successful auctions in this category, and we conducted it under foreclosure conditions. »- Charles Ninow, artistic director at Webb’s
- Webb’s hosted the first virtual art auction in New Zealand on Sunday, October 10.
- Total sales exceeded $ 1.3 million.
- Under confinement conditions, Webb’s has achieved remarkable results.
- Over 1,000 bidders were recorded on two separate auctions.
- A total of 215 works of art from a range of New Zealand and international artists have been included.
The Webb’s auction house auctioned off an excellent double catalog of works of art on Sunday. The sales of Works of Art and Select were presented under the unique conditions of a virtual auction. Works by many of the country’s greatest artists have gone under the hammer and more than 1,000 bidders have registered to take part in the action. Bidders had to compete for the artwork through telephone and internet platforms, with only socially distant staff in the auction room.
The sale opened with a flurry of auctions on the first lot, a 1987 silkscreen print by Pat Hanly titled Doing It. 36 bids were registered, before the hammer fell to $ 7,702. The estimate before the auction was $ 2,500- $ 3,500. This auction frenzy set the tone for the auction.
The results obtained would have been excellent under ordinary live auction conditions. The fact that they were made using a virtual format, while the Aucklanders remain largely locked in, made them nothing short of remarkable. Webb’s broke new ground to deliver one of its most successful and record-breaking art auctions, which also had the distinction of being the first virtual art auction in New Brunswick history. Zealand.
“Webb’s is at the forefront of innovation in the New Zealand auction scene. It’s not a secret. But we have taken it to another level with this virtual auction. I am extremely proud of the team and delighted for our sellers and buyers. Charles Ninow.
Art tours, an essential aspect of any art auction, had been handled virtually. Under level three lockout conditions, the works were set up for superior and secure customer contactless viewing, with video views also available. The results spoke for themselves.
This brilliant result testifies to the determination and professionalism of Webb’s. It is also in tune with current trends. The last 18-24 months have seen an extraordinary increase in the market for high-quality New Zealand art. As our gaze is firmly fixed on our own shores, the art market is exploding. New Zealanders realize the extraordinary richness of our art, our stories, our cultural heritage.
An important part of this cultural heritage is the rich history and tradition of Chinese New Zealanders. Another first, the Webb’s Art department has joined forces with the Asian Art department for a combined offer. A number of works by prominent contemporary Chinese artists with New Zealand ties have been included in the sale. It turned out to be a winning formula. Reagan Lee’s 2020 ink on paperwork, Fate2020 Pandemic (Beethoven), was the highest-grossing artwork of the night. It came in at $ 156,445, well below its pre-auction estimate of $ 100,000 to $ 150,000.
A number of works by international artists have been included in the sales. A painting by Australian legend Sidney Robert Nolan attracted a lot of attention. The untitled work featured one of Nolan’s iconic figures, Ned Kelly, clad in iron. He had a pre-auction estimate of $ 4,000 to $ 6,000, but after 21 bids the hammer fell to $ 23,000.
Webb’s continues to champion the work of Tony Fomison, and tonight was no exception. A modest-sized piece by Fomison, called Vulcan the Ugly Making Something Beautiful, fetched an excellent price at $ 65,000, well above its pre-auction estimate of $ 35,000 to $ 45,000.
“Webb’s has developed an incredible market for Fomison’s paints. We have set and reset records for his incredible work, and we continue to see a significant uptick. ”
Charles Ninow
The Art to Date and Select catalogs are designed for new collectors. They provide excellent works of art at an affordable price range. Another sign of Webb’s art expertise and professionalism, the results of this auction far exceeded expectations.
© Scoop Media