Prices Soar in Heffel’s Record $1.9 Million Dollar May Online Auction

On May 31st Heffel’s May second session online auction of Fine Canadian Art set numerous artist records and brought in $1,913,000. Heffel’s first session live auction of Fine Canadian Art held on May 22nd brought in $12,024,975, making the total for the first and second session an impressive $13,938,000 in the spring 2008 season. Numerous records were set in the May 31st second session online auction helping to push the sale total to over $1,913,000.

“We are thrilled with the $1,913,000 million dollar sale in our second session online auction of Fine Canadian Art, there were numerous bidding wars and many records were set” says Robert Heffel, vice-president of Heffel Fine Art Auction House. “This clearly demonstrates the success of our online auctions and our marketing systems.”

The highest selling lot in May’s online session was Marc-Aurèle de Suzor-Coté’s painting Pont Bourbeau sous la neige. This piece showcased Suzor-Coté’s fine eye for moody winter atmospheres and his impressionist approach to the landscape. Pont Bourbeau sous la neige had a conservative opening bid of $120,000 and sold for $218,500 including buyer’s premium (all figures include the 15% buyer’s premium).

The strength in the Canadian Post War & Contemporary Art Market continues. Jean McEwen’s Untitled painting from 1964 a peak period for the artist sold for $92,000, after a heated bidding war, far exceeding its conservative estimate of $25,000 – $30,000. Jean Paul Riopelle’s painting entitled Nacelle, a brilliantly painted canvas dated 1962, sold for $74,750. Jack Shadbolt’s, Breaking Red from his famous butterfly series sold for $46,000. A new record was set for Toni Onley’s pivotal work Polar #27 that was estimated at $4,000 – 6,000 – it soared well past this conservative estimate selling for $31,650. Jean Paul Lemieux’s, La Ville sold for $40,250.

Edwin Holgate’s works continue to be strong in the spring 2008 season. A new record was set for a Holgate book when, Metropolitan Museum poeme par Robert Choquette avec bois de Edwin H. Holgate, Montreal 1931, sold for $46,000. An intense bidding war developed for the work that had an opening bid of $350 and achieved this phenomenal result because it is so very rare. Holgate’s silkscreen work Snow Clouds, also extremely rare, sold for a record $23,000 far exceeding its conservative estimate of $2,000 – 3,000.

A new record was set for Henry George Glyde’s work when Fishing for Cod, Sydney, BC sold for $43,125 again against a conservative estimate of $5,000 – 7,000. Daphne Odjig’s, Together was estimated at $8,000 – 10,000 and it sold for a record $37,375.

“Numerous records were broken in our May second session online auction of Fine Canadian Art showing once again that the Canadian Art Market is very strong” says David Heffel, president Heffel Fine Art Auction House.

Heffel’s May Online Auction ran for the duration of the month and works were previewed across the country at Heffel’s Vancouver, Toronto and Montreal galleries. The sale sessions closed on May 31st at a specified times — for more detailed information please consult the website at www.heffel.com.

Heffel’s is the leader in the Canadian art auction field with a record $50 million in sales in 2007. Heffel’s has created a National fine art auction house with offices in Vancouver, Montreal, Toronto, Ottawa and representatives in Calgary and London, England. Heffel’s has the most experienced team of fine art specialists in the business, providing customers with the best opportunity for maximizing the value of their works.

Auction info www.heffel.com

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