Rule Britannia Art
Rule Britannia Art
20th Century British Art sale
Eminent works of LS Lowry, Auerbach, Munnings, Barbara Hepworth and Henry Moore have been auctioned in London.
Bonhams' 20th Century British Art sale showed that investment in home-grown talent has never been stronger.
The impressive array of paintings and sculptures, including The Art of Newlyn and St Ives collection, achieved some dazzling results with 92% sold by value.
The Frank Auerbach Portrait of JYM was the top lot at 240,000.
The oil painting from 1976 exceeded its estimate of 100,000 - 150,000 from a US bidder keen to secure a piece of British history.
Lowry's unusual painting depicting just one figure of a Man standing on steps, also achieved 162,000.
Further notable lots within the sale included Bird by Dame Elisabeth Frink whichquadrupled its estimate at 86,400 from an estimate of 20,000.
It is the earliest of Frink's sculptures ever to appear at auction and a topic of extensive debate.
Further elements of the sale, Under a Western Sky: The Art of Newlyn and St Ives also recorded some excellent results, most notably for Patrick Heron's The Jardinire which sold for 174,000 from an estimate of 80,000.
Jonathan Horwich, Bonhams International Head of Pictures told us:
"I think existing art buyers are bored stiff with not spending and are keen to do so now.
"New buyers are equally keen and see Art as just another way of investing their money, but where they can actually see and enjoy it. They also have a philosophical attitude towards its value short and long term."
Recent Greek and South African art sales have broken numerous world records, and with Warhol's200 One Dollar Bills selling for $43.8min New York earlier this week it certainly appears that the market is moving once again.
This is a fascinating and rewarding area of investment.
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