In the midst of the economic gloom that tends to dominate the media right now, I think it’s important that we also hear about good news in the art world. To wit:
- The CM Russell Auction sold almost $1.5M this year; this is below last year’s record-setting amount, but is still the fifth highest amount the auction has ever sold. One of Charlie Russell’s watercolors sold for more than $100,000 in “spirited bidding”. Not too shabby, methinks.
- Legacy Gallery had its annual G. Harvey show in Scottsdale in mid-March. They had collectors calling beforehand and saying “I’ll call back after the show when you’re ready to sell at a discount”.
The night of the show, all but one piece sold by draw (and his work is way spendy). The gallery was in the enviable position of telling the discount seekers afterwards that they were out of luck.
- The Scottsdale Art Auction (of which Legacy is a major part) sold 78% of its lots, though prices were on the low end of the estimates. Still, the auction did about $6.2M (against last year’s $9.2M).