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January Issue
2009
2008 Charleston
Art Auction Reflects Current Market
Charleston Art Auction, South Carolina's premier fine art auction house achieved remarkable results amid the current financial climate on Nov. 8, 2008 at the Renaissance Hotel in Charleston, SC. Total sales of $374,470 was 32% off the last year tally of $550,979 with 54% of the 164 lots offered sold. "We faired rather well", said sale organizer Jack A. Morris, Jr., "when compared to Sotheby's and Christies' sales in New York earlier in the week that sold 64% and 56% of the lots respectively with hammer totals that were 40% and 45% off low estimates."
Otherwise, it would have been hard to imagine a soft economy judging by the overflow crowd that packed every seat and lined both sides of the sale room with three deep in the back. "It was our most exciting and enthusiastic crowd yet", commented auction partner Ben Whiteside, "and despite the understandable drop in totals, we made significant gains with new collectors who came from as far away as Texas."
Pino continued to be a major attraction with other top lots that included Clark Hulings' Chickens at $32,200 (estimated $30,000 - $35,000), Mary Whyte's Finishing the Quilt that fetched $23,000 (estimated $20,000 - $25,000) and a pair of Athos Menaboni paintings of ducks that hammered down at $14,030 (estimated $14,000 - $18,000) and the ever popular William Aiken Walker Cabin Scene that brought $23,000 (estimated $25,000 - $40,000). All totals include buyer's premium.
Other contemporary works that were hotly contested included Dan Gerhartz's Elaina (estimated $6,000 - $8,000) that reached $11,500 to a telephone bidder and Richard Schmid's Penny Roses (estimated $9,000 - $12,000) that fetched $12,075, also from an absentee buyer and $6,900 for Rhett Thurman's Joys and Sorrows (estimated $3,500 - $4,500) that set a new auction record for the Charleston artist. Two new names to auction bidders were Bobby Bagley whose two oils (estimated $10,000 - $14,000) brought $14,088 and Karin Jurick with two small oils (estimated $4,500 - $6,000) that closed out the sale at $7,225. Both were new auction records for the artists.
The sale also featured twenty-six plein air paintings that had been created by Charleston gallery artists with all proceeds to benefit Charleston County High School Art Programs. Charleston Art Auction partner and former president of Charleston Fine Art Dealer's Association, Joe Sylvan said, "total funds raised to benefit the schools was approximately $25,000."
Charleston Art Auction offices are located at The Sylvan Galleries, 171 King Street, Charleston. The auction house is currently seeking consignments for their next sale, scheduled for Nov. 7, 2009. Phone 843/722-0128 for information. For complete results of this and previous auctions visit (www.charlestonartauction.com).
Carolina Arts is published monthly by Shoestring Publishing Company, a subsidiary of PSMG, Inc. Copyright© 2009 by PSMG, Inc., which published Charleston Arts from July 1987 - Dec. 1994 and South Carolina Arts from Jan. 1995 - Dec. 1996. It also publishes Carolina Arts Online, Copyright© 2009 by PSMG, Inc. All rights reserved by PSMG, Inc. or by the authors of articles. Reproduction or use without written permission is strictly prohibited. Carolina Arts is available throughout North & South Carolina.