On Sunday May 6th at 12 noon more than 500 works of art, objects and furniture from Andy Mac’s personal collection went under the hammer. This was the first time in Australian history a comprehensive and authentic survey of Australian and international street art has come up for auction in the country and the catalogue results will now form the cornerstone for street art pricing in Australia.
Expectations were high when the iconic installation from The Big Day Out 2004 concert, titled Freeze Muthastika, came up for auction. The two coveted multi-panel works carried ambitious but logical estimates of $40,000 – $60,000 each. Each set comprised no less than 26 panels and represented a who’s who of Australian street art over the last decade. Tentative bidding ensued and both lots 200 and 200A were finally transacted after the auction for $68,320 inclusive of buyer’s premium. The price represented an Australian record for local street art and will be remembered as the moment street art came of age at auction.
Briar Williams, Head of Art, commented: “Creating a new market is never easy but it is probably the most satisfying because it involves extending not just the scope of the economy for art transacting but also the discourse around it. We did this for the photographer Wolfgang Sievers not so long ago and I’m thrilled that Leonard Joel will now also be remembered as the local auction house that got the auction market going for this exciting new category.
Leonard Joel is now accepting important contemporary and modern works of art for its forthcoming June 2012 catalogue.
Enquiries
Nicole Salvo
Tel: +61 (0) 3 8852 5624
Email: Nicole Salvo
Image Details:
Lot No. 47
REGAN TAMANUI (HAHA) Ned Kelly 2003 enamel spray on planprint a/p 46 x 30cm
Estimate $250-$350
Hammer Price: $1,100
Price IBP: $1,320