0 Comments SA art sale at Bonhams in London exceeds expectations

25 March 2010

Pierneef bonhams

South African Art continued its march onto the world stage as a newly appreciated art form and investment at Bonhams seventh sale of South African Art in London on 24 March.

Out of a total of 135 works by 42 artists 82% sold making a total of £2.6m (R28.5m) achieved by this sale, the seventh South African Art Sale in five years at Bonhams.

Works by Jacob Hendrik Pierneef, Gerard Sekoto and Maggie Laubser all beat their pre sale estimates. Top priced work in the sale was by Pierneef, titled ‘An Extensive View of Farmlands’ which sold for £356,000 (3.9m) against an estimate of £120,000 to £180,000.

The sale’s catalogue cover lot by Gerard Sekoto, Market Street Scene, Cape Town, sold for £192,000 (R2.1m)against an estimate of £120,000 to £180,000 and a Maggie Laubser, Woman Wearing a Red Doek, estimated at £20,000 to £30,000 sold for £50,400 (R554,000).

Giles Peppiatt, Director of South African Art at Bonhams commented after the sale: “Once again we have been delighted by the response from buyers. You would not have known in the saleroom today that we are cautiously emerging from the worst recession in 80 years. The mood was buoyant, the bidding brisk and the prices excellent. After five years of selling South African art I feel that this is not a blip or a fashion but the start of a long march to real international recognition and appreciation of this vibrant art from the tip of Africa.”

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