Records Fall As Irma Stern Prices Continue To Rise
Four new records for South African artists fell at Bonhams sale of South African Masterpieces in London on 23rd March, with an Irma Stern, 'Arab Priest' at £3,044,000 (R34m), an
Alexis Preller, 'Garden of Eden' at £748,000 (R8.4m), a
Gerard Sekoto, 'Yellow Houses' at £602,400 (R6.7m) and a
Francois Krige, 'Basotho Village' at £90,000 (R1m).Â
The Stern was some £600,000 above her last record made at Bonhams October 2010 sale where a painting titled 'Bahora Girl' sold for £2.4m (R26.6m).Â
Pre-sale estimates for the record breaking paintings were:
Irma Stern, Arab Priest, £1.5m to £2m
Alexis Preller, Garden of Eden, £500,000 to £700,000
Gerard Sekoto, Yellow Houses, £200,000 to £300,000
Francois Krige, Basotho Village, £50,000 to £80,000
The sale total was just short of £9m (R101.2m) but with after-sales is expected to end closer to £10m (R112.4m).Â
Giles Peppiatt, Director of South African Art at Bonhams, commented after the sale: "There was evidence of a highly educated group of buyers in the room and on the phone. They picked the best and paid handsomely for it. If the sale has a message it is that there is a growing appetite for the best of Stern but alongside that long discernable trend is the growing number of other artists beginning to command outstanding prices, these names now include South Africa's leading black artist, Gerard Sekoto and Alexis Preller."Â
Paintings found an international audience of buyers made up of South Africans at home and abroad plus many non South Africans. Buyers came from countries as diverse as Canada, Switzerland, Cyprus, Germany, Spain, UK, USA, Ireland, Israel, Italy, Kuwait, Luxembourg, and the Netherlands.