An auction of South African art has broken local records and raked in over R22-million in Johannesburg, an auctioneer said on Tuesday.
Four paintings brought in an average of nearly R3-million each on Monday and the sale still has a day to go, said auctioneer Stephan Welz.
Art buyers were stunned when a JH Pierneef painting, A Summer Afternoon Bushveld, fetched over R3-million followed shortly by a Maggie Laubser painting, Mother and Child, which brought in R4,4-million.
Another Pierneef, a landscape, then fetched R1,43-million and an Irma Stern gouache, Lady of the Harem, from her Zanzibar period was sold for R2,42-million.
The successful auction bodes well for the local art industry, Welz said.
”An indication of how strongly the art market has recently moved in recent months is a work by Gerard Sekoto which was sold in Johannesburg some 18 months ago for R242 000 and now sold for R792 000.”
Welz expressed delight at the ”remarkable results” but added that the market has shown strength for some time.
”The prices achieved are only doing the artworks justice with superior quality works selling at a premium.” – Sapa