Auction Fever
Michael Coulson looks at the latest South African Auction Houses results

Stephan Welz and Co. In Association with Sotheby’s Decorative and Fine Art auction in Cape Town last month was far the best of the recent season in both volume and prices. In the major section devoted to SA art, 78% of 104 lots sold; an R8.47m gross was well ahead of the minimum estimate of R6.97m. In the absence of major Irma Sterns, other artists set auction records.

Top price was a record R1.14m for an Erik Laubscher Still Life (estimate R200 000-R300 000). Other records were set by Cecil Skotnes’ wood panel “Birds” (R616 000, est R350 000-R450 000) and a Van Essche genre scene (R728 000, est R275 000-R320 000). The artist’s “In The Twilight” fetched R616 000 (est R200 000-R300 000).

William Kentridge did well, two drawings going for R537 600 (est R350 000-R450 000) and R268 800 (est R150 000-R200 000). Maggie Laubser’s Barge on Canal reached R358 400 (est R180 000-R240 000) and two minor Pierneef landscapes went for R313 600 each (est R250 000-R350 000 and R200 000-R300 000), one being a casein work on paper.
The earlier session of 82 minor works was 85% sold and grossed almost R850 000, against the low estimate of R607 000. Features were R56 000 for a Tretchikoff portrait drawing (est R7 000-R10 000) and R44 800 for a Kenneth Baker landscape (est R16 000-R20 000).

This was a big improvement on the firm’s November sale in Johannesburg in November, when a gross of almost R11m over three sessions fell short of the minimum estimate of R15.6m, and about 47% of lots sold. Among early casualties were a Pierneef Bushveld landscape, estimated at R1.2m-R1.6m.

Of the six lots with the highest estimates in the second session, four didn’t sell: a Willie Bester sculpture, two Kentridge graphics and a set of five lithographs by Marlene Dumas. Another Kentridge graphic, Sleeper & Ubu, fetched the top price in this section, at R145 600 (estimate: R120 000-R160 000), followed by Robert Hodgins’ oil, Clubmen of America, at R95 200, well below the estimate of R100 000-R150 000.

The third and final session contained all the major works: 57 of 116 lots were sold, for R8.3m, against the R10.5m estimate. Top price was R896 000 for an Adriaan Boshoff oil, August Winds (est R800 000-R1.2m). However, four other Boshoffs, with estimates ranging from R180 000 minimum to R800 000 maximum, failed to sell. Just one of three Maggie Laubser’s sold, an atypical Rural scene, for R560 000 (est: R300 000-R500 000).

Of other popular artists, an Alexis Preller painting on fibreglass, Angel King, was bid up to R336 000 (est R250 000-R300 000). George Pemba’s Initiation Ceremony went for R157 000 (est R150 000-R200 000).

Gerald Sekoto’s Walking Down the Road (1961) just made the R300 000-R500 000 estimate, at R302 000, but his Water Carriers did much better, at R157 000 (est R100 000-R150 000). Two works by Ephraim Ngatane, both estimated at R300 000-R500 000, went for R302 000 and R538 000. Tretchikoff’s Proteas in a Silver Vase reached R224 000 (est: R200 000-R300 000), though his Arum Lilies (est: R150 000-R200 000) was passed.

Bonham’s auction in London last month gave much cause for thought. Especially to “investors” in Irma Stern: no less than 20 of the 27 Sterns offered didn’t sell, including the five with the highest estimates.

These comprised three still lifes, with estimates of GBP100 000-GBP150 000 and (twice) GBP150 000-GBP200 000, plus Malay Girl (GBP70 000-GBP90 000) and Gathering Firewood (GBP125 000-GBP175 000). Many of these works are indeed reoffers from previous sales.

This left the way open for Maggie Laubser to head the value list, her Indian Girl with Poinsettias reaching GBP276 000, against the estimate of GBP100 000-GBP150 000.

The main section of Bonham’s sale saw 68 of 135 lots sell, as near as doesn’t matter to 50%. The gross was about GP1.5m, against the low estimate of GBP2.4m.

Of other leading artists, eight of 12 Sekotos sold, five of eight Van Essches, five of seven Gregoire Boonzaaiers and three of four Pierneeefs; but only two of seven Prellers, three of eight Francois Kriges and none of the three Tretchikoffs

Only one other work topped GBP100 000: GBP132 000 for Preller’s Still Life with Crocodile (estimate GBP40 000-GBP60 000). But there were a few notable and record prices. Like GBP52 800 for Anton Van Wouw’s bronze Shangaan, estimated at only GBP7 000-GBP10 000, and GBP60 000 for a Battiss semiabstract (GBP12 000-GBP18 000).

The only other works to top GBP40 000 were a Hugo Naude landscape (GBP40 800, est GBP35 000-GBP55 00), a Sekoto interior scene (GBP48 000, est GBP40 000-GBP46 000), and two Pierneefs: Golden Gate (GBP72 000, est GBP60 000-GBP90 000) and Acacia Trees (GBP43 200, est GBP40 000-GBP60 000).

At Bonham’s sale of minor works the previous day, 88 of 147 lots sold for a gross of GBP1.45m, against the low estimate of GBP1.7m. Top price of GBP9 000 was shared by William Syme’s 19th-century view of Table Bay (est GBP1 000-GBP1 500) and a J K Moehl At Johannesburg Station (est GBP2 000-GBP3 000), closely followed by a Terrence McCaw view of Hout Bay (GBP7 800, est GBP3 000-GBP5 000).

This was, however, a much better result than Christie’s sale of Australian and SA art in December, which was 60% unsold. Only seven of the 16 SA works sold, grossing GBP392 000 against a low estimate of GBP827 000, the only notable price being GBP301 250 for an Irma Stern portrait (est GBP250 000-GBP300 000).

Neither Pierneef, only one of three Francois Kriges and one of five Dylan Lewises sold.

All prices quoted above include the buyer’s premium, of 12%-20%.
The next couple of months will see the first sale by the new auction house, Strauss & Co, plus a Stephan Welz and Co. In Association with Sotheby’s sale in Johannesburg and Graham Britz’s disposal of the late Brett Kebble’s collection. These will test whether the Stephan Welz and Co. In Association with Sotheby’s Cape sale marks a genuine market recovery, or was just a flash in the pan.