Local art market surges ahead at breakneck pace
The Australian | Michaela Boland
The Australian art market continued its stellar run last night when Sotheby’s Australia auctioned 108 artworks for $14.3 million, the company’s best result since the market peaked a year before the global financial crisis hit.
Four artist records were set but the highlight of a night when only a couple of big artworks failed to find favour was the sale of a Eugene von Guerard landscape which had been owned by the same family for more than five generations. Breakneck Gorge, Hepburn Springs sold to a phone bidder for $1.952m, including Sotheby’s 22 per cent buyers’ premium off a $1m reserve.