This most recent auction of 140 lots had a success rate of selling 2/3 of the lots, leaving 42 lots unsold. Questions abound as to the why the 42 lots did not sell. Is the economy still at an unsettling stage for the average collector in this area of collecting? Is it fair to assume that the highs and lows of the general financial market is reflected in the art market? Have the "investor-collector" and the "speculative-collector" become less visible as in the housing market? Are the results from this current art sale simply an overall trend or pattern in the area of fine art auctions? Were the available items not of interest based on style, subject matter, artist representation? In spite of the many questions, the results from art auctions can have a positive impact on an artist's financial future. Simply stated, when an artist's prices rise at auction, then the prices on new works sold by the artist or their dealer will also rise.
|Robert Colescott, A Legend Dimly Told, 1982,|
Acrylic on canvas, 84 x 72 inches
|Sargent Claude Johnson, Mask, 1933, |
Copper repoussé with gilding,
12½ x 6½ x 2 inches
As I indicated, lot 8 was one of my personal favorites; overall, I was drawn to the small sculptural pieces. Other favorites included Charles Alston's Untitled (lot 13, Head of a Man) which was one of the unsold pieces and Elizabeth Catlett's polished cast bronze (lot 98, Portrait) which did sell for its low estimate ($24,000 inclusive of buyer's premium). Also, Dox Thrash's Portrait of a Young Man (lot 18), Robert Pious' Joe Louis vs. Clarence "Red" Burman (lot 22), Lois Jones' Le Sacré-Cœur, Montmartre, Paris (lot 42), and Hale Woodruff's Returning Home (lot 9) were of special interest. I am now anxiously awaiting the next African-American Fine Art auction at Swann Galleries.
To view the results of the African American Fine Art Sale 2224, see: sale results and prices including buyer's premium.