A second highest Swelco record of decorative and fine art auction sale was set in excess of R 43 Million by Swelco - Stephan Weltz & Co in association with Sothebys, Cape Town in it’s two day auction last week. Paintings alone yielded close on R39 million, accounting for 85% of the sale total. Despite negative financial indicators, these results indicate that the art market in South Africa is maintaining a stability. 19 new artist’s records were achieved including R1 680 000 for an Alexis Preller, “New Eden”, sold for five times its pre-sale estimate. Pierneef “Naderende Storm in die Bosveld” sold for R 3 136 000 The Stern market held strong: a record of R3 584 000 was achieved for a series of 14 works on paper depicting scenes on the French Riviera, a portrait titled “Woman in the Kitchen” fetched R4 480 000. Further artist’s records include Cecil Skotnes panel for R504 000. The next Swelco auction will be held in Johannesburg on November 11 and 12 in Rosebank, Johannesburg with over 1,100 lots of decorative art and fine art. For viewing and auction details see www.swelco .co.za