Hoyland Makes Three Times World Record at Deloitte Auction

Deloitte, the business advisory firm, and Lyon and Turnbull Fine Art Auctioneers, on the 10th January 2008, sold a painting by British Artist John Hoyland for £155,000, three times the current world record for work by the artist at auction, the last lot during the sale of the Deloitte Art Collection, incorporating the former Arthur Anderson Art Collection at London’s Burlington Gardens. The successful buyer of the Hoyland wishes to remain anonymous. The auction made a total of £850,000.

Lyon & Turnbull’s Head of Contemporary Art Ben Hanly said “This was one of the most extensive art collections to appear on the auction market in recent years and we are delighted with the result. The Deloitte Art Collection has great strength and depth due to its acquisition of the former Arthur Andersen Art Collection in 2002, which was one of the first Corporate Art Collections to be formed in the United Kingdom.”

Significant works include the oil by John Hoyland with the top price of £155,000 (the successful buyer of the Hoyland wishes to remain anonymous) Two Bridget Riley’s made £21,000 and £14,500 respectively, a Gilbert and George postcard collage made £15,000, the successful buyer having seen it in the press, an Albert Irvin made £17,000 during the 450 lot sale. Two William Scott prints made £4,400 each. A collection of 26 screen prints by Caulfield made over £30,000 and four Heron screen prints made about £3,000 each. A painting by Ken Kiff made £15,000 along with a painting by Julian Treveleyan which realised £7,500.
Deloitte took the decision to sell the Collection following their move to new offices in New Street Square, London, in 2008. William Jackson Art Advisor to the Deloitte Art Collection said “My instinct to believe that Lyon & Turnbull could deliver the right result for a sale of this quality has been more than realised. It has been an absolute joy to work with such a professional and genuine group of individuals. It is sad to see the break up of any corporate collection, but the stunning result proves that collectors, the trade and the private buyers rose to the occasion and recognised the quality of the collection. I am sure the works will be enjoyed by their new owners well into the future. I am thrilled that Lyon and Turnbull have made such an impact in a London auction market that has for far too long been dominated by Christies, Sothebys and Bonhams.”

Paul Roberts, Vice Chairman of Lyon and Turnbull said “Lyon & Turnbull’s proposal for the sale and the prime location of the Royal Academy’s Burlington Gardens in London along with an imaginative and charismatic marketing strategy has been fully vindicated, it captured the imagination of collectors, dealers and the art world as a whole and we have reaped the result. This auction presented a unique opportunity for all to purchase important works from one of the most substantial corporate art collections ever assembled in this country.”

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