Auctions are a convergence of stories. The artwork. The consigner. The bidders. Even the audience in the room. Everyone comes to art in their own unique way, and it all comes together for one brief moment before the hammer comes down and the dealer proclaims “sold.” And then new stories start from there, each one adding to and enriching the history of a work of art.
Victor Higgins (1884-1949), Taos in Winter, oil on canvas, 24 x 30”. Sold at Coeur d’Alene Art Auction. Estimate: $400/600,000 SOLD: $833,000
Auctions had a tremendous year in 2019. Major artworks were sold, new bidders dipped their toes in and tested the waters, world records were set and the energy level was high. And all signs are pointing up for 2020.
Bonhams had an especially good 2019, with single-owner sales opening the year and closing out the year. The first was February’s Los Angeles sale of the L.D. “Brink” Brinkman Collection, which realized more than $8.4 million and achieved a 89 percent sell-through rate. The collection contained some marvelous works, including pieces by Frank Tenney Johnson, G. Harvey, Gerard Curtis Delano, John Clymer and a Howard Terpning that sold for more than $1.3 million. Nine months later, Bonhams would repeat the feat with another successful auction, this one featuring a selection of works from the Eddie Basha Collection. Pieces by Tom Lovell, Terpning, James Reynolds, Martin Grelle and many others sold, achieving a 79 percent sell-through rate and a sales total of $3.8 million.
E. Martin Hennings (1886-1956), The Taos Twins, ca. 1924, oil on canvas, 45 x 50” Sold at Bonhams. Estimate: $500/700,000 SOLD: $1,032,500
Reflecting back on the sales, Scot Levitt, Bonhams’ director of fine arts, said something that has become the mantra for many auction houses: “Quality is key.”
“…From what I can see across all auction houses and dealers in 2019, the good material continues to be in high demand. The lesser works are more volatile, but to me that shows sophistication in the collecting base.
I consider that a good thing for long term stability in this market,” he says. “With two single-owner Western sales under our belt for 2019, we hope to take advantage of our momentum and procure more collections in the year ahead. Our plan is to build this department and increase our presence in the Western market, as we see strong potential going forward.”
N.C. Wyeth (1882-1945), “Mr. Cassidy…Saw a crimson rider sweep down upon him…Heralded by a blazing .41”, Bar-20 Range Yards, Part VII – Cassidy at Cactus, The Outing Magazine interior illustration, December 1906, oil on canvas, 38 x 25”. Sold at Heritage Auctions. Estimate: $700/1,000,000 SOLD: $555,000
Scottsdale Art Auction, held every April in Arizona, quickly followed up the Bonhams sale with a massive $13.2 million sale that sold 95 percent of its lots. The sale, which featured a first session filled with no-reserve lots, recorded some huge hits, including a Thomas Moran Green River landscape that sold for $2.7 million, a Frank Tenney Johnson that sold for $672,750 and a Melvin Warren that achieved a world record for the artist when it sold for $497,250. Two other artist world records of note: Mark Maggiori had a work sell for $99,450 and Logan Maxwell Hagege realized a price of $234,000. Excitement has been building for these young artists, and it showed by the bidding.
“It was a great year for us,” says Scottsdale Art Auction partner Michael Frost. “The more affordable works did great, but where we did really well was the top-quality lots. Those pieces do excellent, and we get some of the best.”
Joseph Henry Sharp (1859-1953), Crow Encampment, Montana, oil on canvas, 30 x 36”. Sold at Coeur d’Alene Art Auction. Estimate: $300/500,000 SOLD: $892,500
Jack Morris, another partner at the Scottsdale-based auction, feels confident in the coming year and what it may bring. “The Western art market has kept pace with increased consumer confidence in the economy. I believe we will continue to see an active market through October 2020 and that the election will have some bearing on the market leading into 2021,” he says. He added that 2020 will add a new bid platform for buyers—a smartphone app—though he still encouraged buyers to attend in person when possible. “New online bid platforms provide technology that should appeal to younger collectors, but the entertaining and educational experience of attending auctions is an important service that Scottsdale Art Auction offers veteran collectors and aspiring collectors alike.”
The action next moved to Reno, Nevada, in July for the Coeur d’Alene Art Auction, which brought in $17 million. Notable lots included Frederic Remington’s Casuals on the Range, painted the year he died, that sold for $981,750, and Joseph Henry Sharp’s Crow Encampment, Montana that sold for $892,500. Other major lots included pieces by Rosa Bonheur, Charles M. Russell, Clymer, Mian Situ and a Taos work from Victor Higgins that sold for $833,000.
“Our 2019 Coeur d’Alene Art Auction enjoyed extremely strong results with over $17 million in sales and a 92 percent sell-through rate. The market for quality works with attractive estimates is as strong as we’ve seen since 2008. We’re very excited about the new collectors who participated in our 2019 auction. Over 20 percent was sold to first-time clients, which bodes well for the future. We’re really seeing strong demand for top historical works coming to market. An example would be the success of the Taos Founders works we sold in July which included a new world record for Victor Higgins,” says Coeur d’Alene Art Auction partner Mike Overby. Like Morris, he encouraged new and old bidders to explore the various platforms offered by the sale but suggested visiting the sale in person for the experience. “Online bidding has become an integral part of the auction business but by no means has supplanted the in-house experience. We have many clients whose initial participation occurred online but now attend in person. You just can’t replicate the excitement of being in the room with 500 to 600 other collectors and viewing the paintings in person.”
Martin Grelle, Offerings on the Wind, oil on linen, 48 x 60”. Sold at Scottsdale Art Auction. Estimate: $125/175,000 SOLD: $438,750
The market was on fire heading into September for the Jackson Hole Art Auction in Wyoming. The annual sale hit $5.6 million with an 84 percent sell-through rate, with major works from Hagege, Bob Kuhn, William R. Leigh, Russell and Carl Rungius, who had the top lot at $642,500. The auction had rolled out an app for its 2019 sale and immediately saw results with new collectors and younger bidders. “In 2019 we introduced the Jackson Hole Art Auction mobile app to further facilitate online bidding. Very user friendly, the app was so well received that it helped propel our online bids to surpass live bids placed on the telephone for the first time. Online bidding is definitely a trend that I believe will continue to grow and attract younger, technology-driven collectors,” says partner Roxanne Hofmann Mowery. “It is also noteworthy that our 2019 auction audience was a mix of 50 percent repeat customers and 50 percent new customers. These bidders hailed from 35 states, as well as 11 international bidders. This not only indicates satisfaction among our repeat customers, but also points to growing collector interest in the wildlife, sporting and Western art markets.”
Bob Kuhn (1920-2007), The Look Before the Leap, acrylic on Masonite, 20 x 35½”. Sold at Jackson Hole Art Auction. Estimate: $100/200,000 SOLD: $180,000
And all these sales, they’re just scratching the surface. Many others have contributed to the strength of the market: Brian Lebel’s Old West Events had shows in January in Mesa, Arizona, and June in Santa Fe, New Mexico, that did a combined total of $2.2 million; The Russell Live achieved $4.7 million in March in Great Falls, Montana; March in Montana, also in Great Falls, sold $1.9 million; May sales at Christie’s and Sotheby’s in New York had huge numbers, with significant Western works mixed in with the other American lots; Hindman’s Arts of the American West sale brought in $870,000 in May; Heritage Auction’s held three annual Western sales, including one in May that realized $7.2 million; the Santa Fe Art Auction realized $1.8 million in November; and Altermann held successful live and online sales throughout the year.
Month after month, it was electric.
And the auction houses are already building toward an equally thrilling 2020, with an assortment of starting points—from no-reserve sessions with $500 opening bids to major works from blue-chip artists selling at seven or eight figures—and in a variety of destinations, from Los Angeles and Scottsdale to Denver and Dallas to Santa Fe and New York. Western art is here. And it’s not going away. —
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