Breaking News: Strauss & Co. Cape Town 43 Million Rand Sale

South Africa Tue 12-10-2010

Breaking News: Strauss & Co. Cape Town 43 Million Rand Sale
Courtesy of arttimes.co.za

In an electrifying Cape Town Strauss auction last night, South African artist record prices were smashed by confident bidders, the biggest one being for the highest price for a South African painting, Irma Stern’s Gladioli for 13.3 Million Rand.

A new world record for the highest price paid for a South African painting on auction set by Irma Stern's Gladioli at R 13 368 000

The pace of the sale was hair-raising as lot number 146, Pierneef’s Koringlande, Agter Paarl sold for 4 Million (its upper reserve being 3500 000) After this there was a quickening pace to lot number 163 Irma Stern’s Gladioli that started at R 3 Million and with a few bidders in chase who drove the price over it’s upper estimate of R 7M.

With Stephan Welz at the helm two opposing bidders for the Stern took to a duel with the bids going up in half million Rand increments. As the painting rounded the shoulder of 10 Million the duel paused between 11.5 M and then the last bidder placed in the last bid to top 12M

After such a rush of energy in the room Stephan Welz, Strauss’ leading South African art auctioneer exclaimed “Thank you Mr Schachat!” and stated that this was the highest price ever for the sale of a South African painting on auction.

Last night's other auction highlights include:

Maggie Laubser‘s: Flamingos on the Beach (Lot 155) Sold R 2 673 600 (Upper estimate of R 900 000)

Maggie Laubser’s: Landscape with Blue Crane (Lot 156) Sold R 1 782 400 (Upper estimate R 800 000)

Pierneef: Koringlande, Agter Paarl (Lot 146) Sold R 4 678 800 (Upper estimate of 3 500 000)

Stanly Pinker’s: The wheel of life (Lot 251) Sold R 2450 800 (Upper estimate of 1 000 000)

Irma Stern’s: Yachts and House (Lot 165) Sold 2 673 600 (Upper estimate of R 300 000)

According to Strauss press the sale totalled over R43 million bringing Strauss & Co’s total for the year thus far to over R120 million rand confirming the underlying strength in the South African art market and Strauss’s leading position in the market

For more information see Strauss & Co's website at http://www.straussart.co.za/

For a post sale video by Strauss & Co's Stephan Welz see here www.straussart.co.za/videos

Posted By: Diana Achieng

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