leonard, issue 5, april 2012

Issue FIVe / APRIL 2012

FREEPlease take

a coPy

LEONARD

If you would like to receive Leonard you can subscribe online at leonardjoel.com.au for free digital delivery.If you would like to receive a printed version you can collect a free copy at Leonard Joel.If you’d prefer to be sent Leonard by mail you can subscribe to Leonard for $44 per year for postage and handling.

ValuatIon anD ClIent serVICes

Monique Le Grand Phone + 61 (0) 3 8825 5620Email [email protected]

Corporate & prIVate ColleCtIons

John Albrecht, Managing Director Phone 0413 819 767Email [email protected]

art

Briar Williams, Head of ArtPhone + 61 (0) 3 8825 5608Email [email protected]

Jewellery

John D’Agata, Head of JewelleryPhone + 61 (0) 3 8825 5605Email [email protected]

ClassIC FurnIture, obJeCts anD DesIgn

Guy Cairnduff, Head of Classic Furniture, Objects and DesignPhone +61 (0) 3 8825 5611Email [email protected]

ColleCtables

Giles Moon, Head of Collectables and BooksPhone + 61 (0) 3 8825 5635Email [email protected]

books anD ManusCrIpts

Giles Moon, Head of Collectables and BooksPhone + 61 (0) 3 8825 5635Email [email protected]

pre–owneD luxury

John D’Agata, Head of JewelleryPhone + 61 (0) 3 8825 5605Email [email protected]

natural HIstory

Giles Moon, Head of Collectables and BooksPhone + 61(0) 3 8825 5635Email [email protected]

tHe speCIalIst ColleCtor For sIngle owner auCtIons

Guy Cairnduff, Head of The Specialist CollectorPhone +61 (0) 3 8825 5611Email [email protected]

tHe weekly auCtIon

Shawn Mitchell, Head of Weekly AuctionsPhone + 61 (0) 3 8825 5615Email [email protected]

DIgItal MeDIa

Clare Greig, Digital Media Manager Phone + 61 (0) 3 8825 5613Email [email protected]

Leonard Joel Specialists

LEonARD JoEL

Primary Salerooms

333 Malvern Road,

South Yarra, Victoria 3141

Australia

Tel: +61 (0) 3 9826 4333

Fax: +61 (0) 3 9826 4544

Subscriptions

Leonard is published 10 times a year by Leonard Joel. If you have any questions regarding Leonard please contact 03 9826 4333

CoverAndrew MacHosier Lane, MelbourneTHE ANDY MACCOLLECTIONStreet and Fine art from Citylights Projects 1992-2012

Auction Sunday 6 May 2012

PhotographyRick Merrie

DesignerMaria Rossi

leonardjoel.com.au

WATCH US on

BID LIVE AT oUR AUCTIonS on

FoLLoW US on

FInD US on

Facebook.com/Leonardjoel1919

Facebook.com/Leonardjoel

youtube.com/Leonardjoel1919

ForeworD

In mid 2008 I vividly recall transacting a

Brett Whiteley by text messaging. The cli-

ent had viewed the work from a previous

catalogue (by email) but after that, the entire

transaction was conducted by text. So con-

cerned was I that I was not providing proper

client service that I texted the client offering

to “speak” with him. He replied that he was

too busy and perfectly happy! This moment

for me really was the dawn of the age of the

“digital art economy ”.

Since then the rise of the “remote collec-

tor”, as I like to refer to the species, has both

increased in number and comfort with the

services that have grown organically from

the original auction house that required

“human” attendance. In fact, it was only

about half a century ago that you either had

to attend in person or beg someone to fill your

place! Now the suite of services that accom-

pany the auction experience are more elabo-

rate and useful. What I have found however

is that many private clients still do not know

what they have these days at their disposal.

TELEPHonE AnD ABSEnTEE BIDDInGThe two most popular are the absentee bid

and the telephone bid. The absentee bid

allows you to leave with us a maximum

amount you are prepared to bid and we

will execute the bid on your behalf for the

lowest price possible. Some clients remain

nervous about absentee bidding, despite

our guarantee that bids will be executed as

cheaply possible, but I encourage it as a very

disciplined form of bidding that forces the

bidder to set a maximum price and eliminate

the emotion of over-spending that often

can accompany bidding in person. But for

those unable to attend who still want a bit

more involvement in the process they can

telephone bid on high value lots with one of

our staff from the comfort of their home or

office. One of our staff calls the bidder a few

lots prior and will basically bid in the room

as instructed by the client. Both services

are free of charge and very handy for those

clients that are either interstate or unable to

attend.

ConDITIon REPoRTSBut beyond these services there are several

others that I’d encourage clients to explore.

The most important one is the “condition

report” – well used by the trade but far less

used by private collectors. Again the service

is free of charge and enables you to request

a reasonably detailed report on the physi-

cal condition and originality of any lots that

are of interest to you. It is basically a simple

compendium to the description in the cata-

logue to ensure you are fully informed about

whether there is any minor damage or resto-

ration work relevant to the piece in question

that you may like to consider prior to bidding.

BIDDInG VIA THE InTERnET AnD on YoUR CoMPUTER In “REAL TIME”Finally there is live-bidding via the internet.

Almost all major catalogues at Leonard Joel

are available to clients wishing to bid via the

internet. Our service provider is ARTFACT,

the largest art and antiques auction bidding

platform in the world. For a small fee on

each successful purchase and, I must say, a

very simple credit card registration process

you are able to bid on Leonard Joel auctions

in real time from the comfort of your com-

puter. This method of bidding is becoming

more popular each round of sales and, while

once upon a time the pace of the auction was

dictated by room and telephone bidders, it is

now dictated by the internet bidder. So in a

sense online bidders are now enjoying “run of

the room”, so to speak . The one unique ben-

efit for those comfortable with the technol-

ogy is that bidding on a computer eliminates

the nervousness and angst often experienced

by bidders when they are either in the room

or on the phone – it may be less exhilarating

but the “removed” sense and simplicity of

the technology is appealing to those wanting

a more concise and “quiet” bidding option.

AUCTIon RESULTS DATABASESIn previous issues of LEONARD, Artprice

and Australian Arts Sales Digest have been

discussed. The former a vast international

database for art transactions throughout the

auction world and the latter an extremely

useful record of Australian and regional art

auction records. These are two amongst a

plethora of online data resources and armed

with these the collector has, for a modest

annual fee, powerful information to source

the history and sale performance of both art-

ists and particular works of art.

THE FUTURE – noW! Recently before an auction one of my special-

ists remarked that “we have more registered

telephone bidders than registered room

bidders” – put simply, more people bidding

away from us than with us! The “remote col-

lector” is a feature of a world that is becom-

ing less physical and vastly more digital. Ten

years ago the digital economy for most was

still more about hyped floats and over-valued

companies. Now it is a profound reality that

is not just turning traditional retailing on its

head but also how auctions look, feel and

behave. I hope that one day the auctioneer

does not become some Disneyland-like auto-

mated human model or a hologram but I am

happy with the idea that auction rooms may

become cosy, small gatherings of people, tel-

ephones and technology - connecting with

the entire world.

JoHn ALBRECHT, MAnAGInG DIRECToR AnD HEAD oF PRIVATE & CoRPoRATE CoLLECTIonS

THE REMOTE COLLECTOR

Disneyland’s new Animatronic Abraham Lincoln

1 APRILleonard

Contents

APRIL Contents

CALEnDAR 3

nEWS 4

CLASSIC FURnITURE, oBJECTS &

DESIGn 5

THE WEEKLY 8

CoFFEE In MELBoURnE 9

LEonARD JoEL HISToRY 10

ART 12

JEWELLERY 14

PRE-oWnED LUXURY 15

WHAT IS A PRInT? 16

CoLLECTABLES 18

SERVICES 20

ART BUSInESS 21

GET LEonARD ALL THE TIME

SUBSCRIBE

With more specialist categories and auctions than any auction house of its kind

in Australia, Leonard is the simplest way to remain abreast of all forthcoming

auctions, important sales results, events and auction news. With expert contribu-

tors from all fields of collecting Leonard will be an indispensable tool for both

the seasoned auction-goer and the new collector alike. Leonard is available

both free at Leonard Joel and online or can be subscribed to for an annual fee

of $44 inc GST (postage & handling). Visit us online at www.leonardjoel.com.au

or for subscription information contact [email protected].

FRoM SInGLE ITEMS To CoLLECTIonSIf you have a single item or collection you

wish to sell, the Leonard Joel team of spe-

cialists can guide you through the entire val-

uation and auction process. We can provide

you with experts across all collecting fields,

no less than thirteen categories of auction to

select from and the most expansive calendar

of catalogue auctions in Australia. Leon-

ard Joel specialists conduct insurance and

market valuations for the entire spectrum

of clients - private collectors, corporations,

museums, fiduciaries and government enti-

ties are advised by our valuers and special-

ists on a daily basis.

TAILoRED TRUST AnD ESTATE SERVICESLeonard Joel has a long and distinguished

history of assisting both trust companies and

executors with the dispersal of important

collections. We provide fiduciaries (lawyers,

trust officers, accountants and executors)

with a complete suite of services to manage

accurately and successfully the dispersal

of large and small estates. Our services are

specially designed to aid in the appraisal

and dispersal of fine art, antiques, jewel-

lery, objet d’art, collectables, books & manu-

scripts and general household contents.

THiNkiNg Of SELLiNg?

Our specialists are now sourcing single items and collections for the following categories:

AUSTRALIAn AnD InTERnATIonAL ART

FInE JEWELLERY AnD WRISTWATCHES

PRE-oWnED LUXURY

CLASSIC oBJECTS AnD FURnITURE

MoDERn DESIGn

SInGLE oWnER CoLLECTIonS

CoLLECTABLE ToYS AnD SPoRTInG MEMoRABILIA

MILITARIA

BooKS AnD MAnUSCRIPTS

ART DECo

Consigned for 17 June 2012

An Important Red and Black Galalith Collar by Auguste Bonaz, Circa 1928Estimate $2,000 - 3,000

2 leonardAPRIL

FoRthComIng AuCtIons

The Weekly Auction Every Thursday in 2012 – 10am333 Malvern Road, South Yarra, Melbourne, Victoria

The Danish Furniture Auction Thursday 5th April 2012 – 10am 333 Malvern Road, South Yarra, Melbourne, Victoria

The Monthly Toy Auction Thursday 19th April 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria

The Andy Mac Collection Auction Sunday 6th May 2012 Melbourne

Classic Furniture, objects & Design Auction Sunday 3rd June 2012 – 1pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Fine Jewellery Auction Sunday 17th June 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Pre-owned Luxury Auction Sunday 17th June 2012 – 3pm 333 Malvern Road, South Yarra, Melbourne, Victoria

The Sunday Fine Art Auction Sunday 24th June 2012 – 2pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Collectables, Toys & Sporting Memorabilia Auction Sunday 1st July 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Photographic Auction Sunday 22nd July 2012 – 2pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Modern Design Auction Sunday 19th August 2012 333 Malvern Road, South Yarra, Melbourne, Victoria

The Graham Geddes Collection of Important Antique Furniture & objects Auction Mid September 2012 333 Malvern Road, South Yarra, Melbourne, Victoria

CalenDar

Leonard Joel is a proud supporter of Arts Project Australia

Auctions and viewing times are subject to change.

EMILY KAME KNGWARREYE (CIRCA 1910-1996) Linear Yam Dreaming 1996 Acrylic on canvas Inscribed verso with artist's name and Aboriginal Galleries of Australia cat. no. AAGA-6165 bears additional cat. numbers DA2380 and 2044-EKK219 verso 121.5 x 67cm Sold March 2012 $10,800 (IBP)

3 APRILleonard

news

This publication by Ida Rentoul Outhwaitetitled Fairyland and published byRamsay Publishiing Pty, Ltd, 1926 realised $2,160 (IBP) at our recent Antiquarian Book Auction.

AnTIQUARIAn BooK AUCTIon

STATE LIBRARY oF VICToRIA SECURES HERMAn PoRTRAIT

The Estate of Bernard Smith achieved

excellent results on Thursday 8th

March with the feature piece, a

portrait of Bernard Smith by Sali

Herman (illustrated), achieving

$22,200 (IBP) against estimates of

$8,000-$10,000. The portrait was

eagerly contested by two public

institutions. Amongst other notable

results, Australian Pottery was

highly sought after with an early

vase by Shiga Shigeo achieving

$1,600. Other items which attracted

interest were an ink and collage

exhibition invitation by Martin Sharpe

and an oil painting by Bernard

Smith dating from the 1980s.

BoUTIQUE SInGLE oWnER ART SALE FoR ART InVESTMEnT TRUST EnJoYS STRonG DEMAnD

On Thursday 16th February Leonard Joel successfully dispersed approximately

ninety works from the Art Investment Trust under the instructions of their

administrators. It was rare to see such a diverse and colourful selection of editions

and graphics at auction and collectors rapidly acquired the offering and quickly

pushed final sale prices to a 20% premium above the low estimate of $45,000.

Highlights of the sale included lot 3006, a mesmerizing work by Roger Byrt,

titled Red Roll 2001 (illustrated) that more than doubled its estimate to

realise $5040 (IBP) and the delightful lot 3071 Happy Man 1998, by Dean

Bowen, which quadrupled its estimate to sell for $2040 (IBP). Leonard

Joel offers specialist expertise to professionals and fiduciaries seeking

asset dispersal advice. If you require confidential advice regarding a

corporate collection contact John Albrecht, Head of Corporate & Private

Collections on 03 8825 5619 or email: [email protected]

Consigned for Specialist Print Auction 7 June 2012

Eric Thake (1904-1982) An Opera House in every home 1972linocut Estimate $800 - 1,200

IConIC AUSTRALIAn PRInT on oFFER

now consigning sPecialist PrintsFor 7 JUne 2012

4 leonardAPRIL

ClassIC FurnIture, obJeCts & DesIgn

Classic Furniture, Objects & Design Auction Sunday 3 June 2012

A 19th century Erard Giltwood and Satinwood Harp and associated stoolMaker’s mark for Erard Freres, ParisWith the inscription ‘Restored by J. George Mor-ley, Harp Maker from Erard’s / 6 Sussex Place, South Kensington, London,’ 165cm high.Estimate: $3,000 - $5,000

CLASSIC fURNiTURE, OBJECTS & DESigN

now consigning classic FUrnitUre, oBJects & design For JUne 2012

At the Leonard Joel Graham Geddes Ware-

house Auction on Sunday 18th March 2012 it

was clear that professional and home deco-

rators were out in force for an auction that

provided a truly diverse array of furnishings,

objects, architectural features and unusual

items of utility which extended to no less

than an antique Indian wedding carriage!

These warehouse-style auctions also provide

clients an opportunity to acquire both period

and more modern pieces at a fraction of retail

prices. This was exemplified by the sale of

lot 20, an elegant bureau plat in the manner

of Paul Sormani (illustrated) which realised

$7320 (IBP). Of the more unusual lots that

sold, lot 180, a Fallow antler chair realised

$2280 (IBP). The highest price for the auc-

tion was paid for a most impressive pair of

Indian brass and iron teak doors that realised

$7930 (IBP) and confirmed the demand from

clients for interesting architectural pieces

that are interested in “hands on” decorating

and placement of rather complex pieces. The

auction realised 88% by value of lots sold.

The Classic Furniture & Objects department

is now seeking entries for valuable single

items or entire collections for its early June

2012 auction. For enquiries please contact

Guy Cairnduff 8825 5611 or email guy.cairn-

[email protected].

WAREHoUSE AUCTIon A DECoRAToRS’ HEAVEn

EnTRIES CLoSE

13 APRIL2012

AUCTIon JUnE 2012

5 APRILleonard


By anton assaad

In September this year, a chapter in the his-

tory of one of Australia's largest and most

important family-owned antique dealerships

will come to a conclusion when the entire

stock in trade of Graham Geddes Antiques is

offered for sale in a final auction by Leonard

Joel at his premises on Melbourne’s High

Street, Armadale. Graham Geddes' choice in

appointing Leonard Joel was motivated by

his long-standing relationship with the com-

pany and his belief that Leonard Joel was

best resourced to undertake such a monu-

mental dispersal.

Unlike Geddes’ previous auctions, the sale in

September will be a serious, final dispersal

and the most historic of its type since The

Owston Collection in 2010. All stock will be

offered at below acquisition cost, present-

ing an outstanding opportunity for both

local and international clients to secure a

treasure from his vast and unparalleled local

collection.

Graham Geddes' association with Leonard

Joel has spanned over 40 years, with many

of the finest, most unusual offerings at Leon-

ard Joel catalogue auctions finding their way

into his collection.

Guy Cairnduff, Head of The Specialist Col-

lector Department: "Throughout my career,

Graham Geddes has been a somewhat enig-

matic figure and the first person you would

call when anything really special came

into the salerooms. His shop encapsulates

my idea of what the very best High Street

antique dealership should look like. Graham

has always been a great supporter of Leonard

Joel. It is a privilege to now have the oppor-

tunity to market his extraordinary collection

at his flagship establishment."

Graham Geddes’ collection has long been

renowned, not only for its sheer scale and

depth, but also for its eclectic nature. The

offering in the September auction will be no

less diverse, ranging from bronze and mar-

ble statuary, important and rare English and

European furniture, lighting and sculpture

to Asian antiquities and Viennese bronzes;

many pieces with extraordinary provenance.

Graham Geddes: “It is common knowledge

that I have dabbled with various auction

houses over the years that have assisted me

with aspects of my collection. But this is the

first and last time that a complete offering of

my entire stock in trade will hit the market

place.

The auction is scheduled to take place in

mid September 2012 over multiple sessions.

To pre-register catalogue interest con-

tact Guy Cairnduff on 8825 5611 or email

[email protected].

THE SPECIALIST CoLLECToR DEPARTMEnT SECURES THE GRAHAM GEDDES AnTIQUES CoLLECTIon

fORTHCOMiNg HISTORIC STOCk iN TRADE AUCTiON

A 19TH CENTURY FLORENTINE MARBLE STATUE DEPICTING ARIADNE ON THE PANTHERSigned F. Vichi, Firenze, after the original by Heinrich Dannecker Estimate on Request

6 leonardAPRIL


THE GRAHAM GEDDES CoLLECTIon In FoCUSEvery month in LEONARD, Guy Cairnduff, Head of the Specialist Collector, will present a highlight from this important forthcoming September auction.

A MONUMENTAL PAIR OF CHINESE CLOISONNé ENAMEL LIDDED TEMPLE CENSORSEach of compressed ovoid form, decorated with stylised floral sprays below formal borders on a turquoise ground, beneath a domed cover surmounted by a bronze Buddhist lion knop, raised on tripod feet extending from lion mask heads, apocryphal Qianlong mark to rim, together with ebonised stands.101cm highEstimate on Request

7 APRILleonard

weekly

The Weekly Auction – Viewing Wednesdays 9am to 8pm / Auction Thurdays 10am / View online at leonardjoel.com.au

THEWEEkLY

Leonard Joel is excited to announce a significant collection

of Danish mid-century Modern furniture will go to auction

on Thursday the 5th of April. The collection consists of a

selection of high quality oak, rosewood and teak furniture with

examples from renowned Scandinavian designers such as Hans

Wegner, Kai Kristiansen and Arne Vodder. With up to one

hundred lots on view, this is the perfect opportunity to secure

that unique piece of Danish modern design for your home.

auction thursday 5th april at 10am

Viewing Wednesday 4th April 9am to 8pm

Catalogue Now Online

At our weekly auction on Thursday 24th

February a most interesting collection of

objects, furniture, decoration and ephemera

with a distinctly Japanese and Asian flavour

was offered for auction. The [insert number]

lots on offer included ceramics, jade, cloisonné,

porcelain bronzes, hibachis, painted screens,

kimonos, decorative items and furniture.

THE DAnISH FURnITURE AUCTIon

THEMATIC BoUTIQUE SInGLE-oWnER AUCTIon

At a recent weekly Objects

and Collectables Auction this

elegant Early 19th Century Flame

Mahogany Double Fusee Bracket

Clock realised $1,440 (IBP)

ILLUM WIKKELSOE(DENMARK 1919 – 1999), ATTRIBUTED.A matching pair of 1960s Danish upholstered armchairsEstimate $2,400 - $2,800

8 leonardAPRIL

CoFFee In Melbourne

The Legend Café took its name from the

story of the mural created especially for the

space. Clement Meadmore had a particular

idea on how to enlarge and provide depth to

the long, yet fairly narrow space through a

visual illusion. For this challenge he engaged

an amazing artist, Leonard French, who Ion

Nicolades had also become acquainted with

through Jazz.

Clement Meadmore had placed seven mirrors

in the Milk Bar and wanted to match them

with seven painted panels on the opposite

wall in the espresso bar space. The panels

would reflect off the mirrors to increase the

impression of space and add to the ambience.

At the time, Leonard French was an

apprentice sign-writer, painting enormous

signs, so when his friend approached him

with this brief he did not flinch. In fact, he

was excited that he could test his artistic

skills on something new and innovative.

‘As a struggling artist my lodgings were stark

and small’ recalls Leonard French. ‘When I

commenced the project of painting the seven

panels that collectively would tell the story

of the Legend of Sinbad the Sailor, I not only

lived and breathed the creative, I slept on it

– literally. I stacked the seven canvas panels,

one on top of each other, and they served

as my bed for the duration of the painting

project. After the enamel paint dried, I would

then place each panel in turn at the bottom of

the stack of seven.’

One strong element was extracted and

utilised as the business logo. As well as being

reproduced on T-shirts, business cards,

flyers and matchboxes, it was engraved in

gold on the leather-bound menu covers.

Leonard French did not know whether to

feel disappointed or elated that these special

menus disappeared within a week. When no

one was looking, people pocketed them as a

souvenir; however, what he did not know was

Ion Nicolades had put a couple aside for his

personal collection. They are still treasured

by him today.

Both Clement Meadmore and Leonard

French* OBE grew to become renowned

artists, receiving international acclaim

through their individual statement

commissions.

Sandra Makris, 2010

Photograph Courtesy Ion Nicolades Private Family Collection

COffEE iN MELBOURNE

ART, ARCHITECTURE AnD ARTEFACTS

In this first extract from Sandra Makris' publication Journeys of Melbourne's Coffee Pioneers - Trailblazing Passions, that documents the history of Melbourne's coffee culture, The Legend Café in Melbourne, its designer Clement Meadmore, and artist Leonard French are discussed.

*Suggested further reading: Cubism and Australian Art, Lesley Harding and Sue Cramer, The Miegunyah Press in association with the Heide Museum of Modern Art, Australia, 2009.

9 APRILleonard

leonarD Joel HIstory

6 7

LEONARD JOEL LEONARD JOEL

Classic Radio AuctionA Single Owner Collection

Sunday 19 September 2010 Melbourne

MOMENTS IN TIME THAT DEFINED US

MOMENTS IN TIME THAT DEFINED US MOMENTS IN TIME THAT DEFINED US

1998

The Rogowski Collection

1990

The Qintex Collection

1943

Porcelain and Objects of Art from the National Gallery of Victoria Collection

1988

Rupert C.W. Bunny’s Une Nuit De Canicule

(The first painting sold for more than $1,000,000 in Australia)

1952

The E. Phillips Fox and E. Carrick Fox Collection of Pictures

2010

The Szental Collection of Radios

1966

The Charles Ruwolt Collection of Australian Paintings

2011

The Lieutenant Paul McGinness WW1 Medal Group

1970

The Hans Heysen Collection

THE LIEUTENANT PAUL MCGINNESS

WWI MEDAL GROUP

INCLUDING THE QANTAS ARCHIVE

SUNDAY 20 NOVEMBER 2011 MELBOURNE

THE DAVID BROMLEY

COLLECTIONMONDAY 28 NOVEMBER 2011 MELBOURNE

2011

The David Bromley Collection

1971

The Dame Mabel Brookes Collection

1974

The Maharajah of Mysore Collection

Over 90 years on, Leonard Joel remains a Melbourne icon and our

time-honoured commitment to providing buyers and sellers with a

quality suite of auction and collection management services is just

as important today. Founded by the late Leonard Joel in 1919,

the business is now operated by John Albrecht, a former director

of Kozminsky, who has been associated with Leonard Joel for a

quarter of a century. In the 21st century Leonard Joel’s tradition of

managing historic dispersals and generating record results for its

clients continues.



6 7

Leonard JoeL Leonard JoeL



MoMents in tiMe that defined us

MoMents In tIMe that DefIneD Us MoMents In tIMe that DefIneD Us

1998

the Rogowski Collection

Italian giltwood centre tablewith oval pietra dura black marble top

18 century3 December 1990

1990

the Qintex Collection

1943

Porcelain and objects of art from the national Gallery of Victoria Collection

1998

Rupert C.W. Bunny’s Une nuit De Canicule


1952

the e. Phillips fox and e. Carrick fox Collection of Pictures

2010

the szental Collection of Radios

1966

the Charles Ruwolt Collection of australian Paintings

2011

the Lieutenant Paul McGinness WW1 Medal Group

1970

the hans heysen Collection


WWI MEDAL GROUP



THE DAVID BROMLEY


2011

the David Bromley Collection

1971

the Dame Mabel Brookes Collection

1974

the Maharajah of Mysore Collection









clients continues.

10 leonardAPRIL

leonarD Joel HIstory

6 7

LEONARD JOEL LEONARD JOEL



MOMENTS IN TIME THAT DEFINED US

MOMENTS IN TIME THAT DEFINED US MOMENTS IN TIME THAT DEFINED US

1998

The Rogowski Collection

1990

The Qintex Collection

1943

Porcelain and Objects of Art from the National Gallery of Victoria Collection

1988

Rupert C.W. Bunny’s Une Nuit De Canicule


1952

The E. Phillips Fox and E. Carrick Fox Collection of Pictures

2010

The Szental Collection of Radios

1966

The Charles Ruwolt Collection of Australian Paintings

2011

The Lieutenant Paul McGinness WW1 Medal Group

1970

The Hans Heysen Collection


WWI MEDAL GROUP



THE DAVID BROMLEY


2011

The David Bromley Collection

1971

The Dame Mabel Brookes Collection

1974

The Maharajah of Mysore Collection









clients continues.



now seeking single owner collections For aUction

11 APRILleonard

art

The Andy Mac Collection Auction Sunday 6 May 2012

Andy MacInternational Cooperation Will Speed Progress 2007Digital inkjet light box transparency in steel light box, 45 x 45cmEstimate on Request

STREET AnD FInE ART FRoM CITYLIGHTS PRoJECTS 1992-2012The art department is excited to announce

that Andrew Mac, renowned Melbourne

street artist and founder of Melbourne’s

City Lights project, has engaged Leonard

Joel to auction his entire collection of

Australian and international street art,

furniture and objects. Some 500 lots make

up the collection and of particular interest

is Andrew’s vast survey of some 300 works

of street art that he has assembled over the

last two decades. This sale of street art is

the first time such a collection has come to

public auction in Australia and represents

a unique collecting opportunity for those

interested in this most contemporary,

urban art movement. Within the collection

that will be offered for public auction

in early May 2012 is arguably one of the

most important street art works in private

hands; titled Freeze Muthasticka and made

up of no less than 72 panels (measuring

over 30 metres in length, or 60 sq metres

approx), this collaborative work was

painted on site at the the Big Day Out music

festival in 2004. Andrew has held the work

all this time and considers it an historically

important piece of early street art. Andrew

Mac: “It is not just the sheer scale of the

work, its original purpose and the number

of artists involved in its creation. For me

this work sums up what the walls of Hosier

Lane looked like in 2004, and is the first

time that many of the key players of this

period in street art collaborated together.

As such it is a time capsule of Melbourne

stencil art at the peak of it’s blossoming in

the early 2000s.

THE AnDY MACCoLLECTIon

THECITYLIGHTS PROJECTS

COLLECTIONStreet and Fine Art 1992-2012

SUNDAY 6 MAY 2012 MELBOURNE

At the Leonard Joel Sunday Fine Art Auc-

tion on Mach 25th 2012 institutional and

private collectors were treated to a rare

collection of historically important art and

objects. The early highlights of the auction

were two works by John Glover of almost

identical proportion and similarly framed

that had been in one private collection for

30 years and had been originally acquired

from Christie’s in London. The two works,

lots 16 and 17, realised $91,200 (IBP) against

total low estimates of $75,000 and were both

secured by the same collector. A mid 20th

century work by Eric Wilson, lot 99, contin-

ued the theme of rarity when a very small,

jewel-like work, by the artist of London real-

ised $9,600 (IBP). Expectations were high

when the middle of the auction was reached

and three exceptionally rare transitional-

period indigenous pieces were offered (lots

148-150). Two boomerangs, both elaborately

incised with decoration, lettering and names

enjoyed strong interest from institutions

and finally sold for $21,600 (IBP) against a

combined low estimate of $4,000. The third

item from the collection was a very early

transitional-period club that realised $3,120

(IBP). Leonard Joel is delighted to report

that all three items were secured by a public

institution. Later in the sale, scarcity

of artist and rarity of subject matter

probably accounted for the extraor-

dinary result when a rather small

work by the artist Herbert Rose

(lot 157) sold for $10,200 (IBP)

against a low estimate of $800. The

oil titled Le Ruy, France provided a par-

ticularly unusual representation of a

protruding hill top castle within

a provincial village. The pleas-

ant surprises and challenges

associated with identifying

early unsigned portraits

came to the fore when lot

211, a pair of portraits, came

up for auction. One was

unframed and the other

was housed in a mid 18th

century frame that looked

tantalislingly like one used

by some of the great Brit-

ish painters. The sitters (or

subjects of the portraits)

were identified as part of the

English Kenrick family but

there was little more that could

be gleaned from the two paint-

ings. In rather rough condition the

paintings were conservatively esti-

mated at $2,000 - $3,000. After

both local and international

interest the “Kenricks” trans-

acted for $18,000 (IBP) the pair

and will now, no doubt, enter

the slow process of restoration,

further painstaking research and

potentially some sort of attribu-

tion. Provenance and age were

recurring themes and no

more so than when the Cap-

tain Edgar Johnston Col-

lection of Rare New Guin-

ean Artefacts came up for

auction. The collection

comprised three pieces

collected by Johnston

in 1928 and comprised

a dance ornament and

two pigment bowls. The

three pieces had been

held by descendants of

Johnston for almost 90

years and extremely con-

servative estimates were

placed on the three items

that are often notoriously hard

to price before they reach public

auction. The results were truly breathtaking

– lot 234 realised $7,800 (IBP) against a low

estimate of $800, lot 235 sold for $10,200

against a low estimate of $1,000 and lot 236

(illustrated) sold for $23,400 against a low

estimate of $2,000. In total, the three pieces

realised $42,400 (IBP) or approximately 10

times low estimate. The final highlight of the

auction was a rare work depicting a gorge in

central Australia by Albert Namitjira. Sub-

ject matter, sometimes more than artist,

is key with many of these Hermannsburg

works and the deep gully and dramatic com-

position of this very considered work by the

artist ensured strong interest. The work sold

for $31,200 (IBP) which was more than tri-

ple its low estimate. Of the almost 300 lots

offered on Sunday the sale total came to just

over $820,000 (IBP) with a sale rate of 69%

by lot. Briar Williams and Nicole Salvo are

now accepting entries for the June Sunday

Fine Art Auction and Sophie Ullin, Aborigi-

nal and Tribal art specialist, is now seek-

ing single items and important collections

of tribal and aboriginal art. If would like a

confidential valuation for auction please

contact Anna Hombsch, Art Administrator

03 8825 5613 anna.hombsch@leonardjoel.

com.au

THE RARE AND iTHE UNUSUAL

12 leonardAPRIL

art

now consigning For the JUne sUnday Fine art aUction

JUNEfiNE ART

Consigned for June Sunday Fine Art Sale

HAUGHTON FORREST (1826-1925)Rothesay Bay RegattaOil on canvas73 x 116cm

ILLUSTRATEDForrest, Haughton & Deas Brown, George,Haughton Forrest 1826 – 1925, Melbourne:Malakoff Fine Art Press, 1982, p.129

PROVENANCEPrivate Collection, VictoriaEstimate $60,000 - $80,000

13 APRILleonard

Jewellery

now consigning Jewellery, watches and Pre owned lUxUry For JUne 2012

At the Leonard Joel Fine Jewellery Auction

on Sunday 18th March 2012 it was clear

that collectors and jewellery lovers were

focusing on statement jewellery pieces –

by “statement” we refer to jewellery that is

high impact, visually. No longer are clients

content with the staple jewellery items and

designs of the 80s and 90s – they are now

looking for much more adventurous and

bold colour combinations and designs. This

was exemplified by the sale of lot 110, a most

impressive Aquamarine and Diamond ring/

brooch – yes, that’s “ring/brooch”. This very

large display of precious stones was centrally

set with an Aquamarine weighing no less than

23 carats and finally sold for $14,640 (IBP)

against an estimate of $12,000 - $15,000.

Equally impressive and unusual was lot 162, a

rather large diamond pendant set with a rare

Tanzanite that also realised $14,640 (IBP).

The highest price for the auction was paid for

a more understated, but no less rare, cushion

cut solitaire diamond ring lot 140A, that sold

for $53,689 (IBP). This result also confirmed

the growing demand for more unusual

diamond cuts, such as the cushion and

oval shapes, as opposed to the more widely

worn brilliant and emerald cuts. Of the

wristwatches, the highest price realised was

for lot 238 a diamond encrusted Vacheron

Constantin which sold for $10,980. The

auction realised $615,000 IBP against a low

estimate of lots sold of $481,000, or 105% by

value of lots sold. The jewellery department

is now seeking entries for valuable single

jewellery items or collections for its mid-

June 2012 auction. For enquiries please

contact John D'Agata (03) 8825 5605 or email

[email protected]

FINE JEWELLERY

140A

238

162

110

“stAtement JeWeLLeRY ALL the RAge”

14 leonardAPRIL

pre-owneD luxury

At the Leonard Joel Pre-Owned Luxury

Auction on Sunday 18th March 2012 an

interesting survey of Hermes items came

up for auction. In this post-auction wrap

we highlight the strongest results from

this fashion icon and results from other

houses of luxury. Again it was evident that

Hermes fanatics were keen to avoid long

waiting lists when lot 330, a Kelly handbag

realised $7930 (IBP) against a low estimate

of $6500. Continuing the “Kelly” theme,

lot 309, a padlock wristwatch by Hermes

sold for $1220 (IBP). One of the more

rare Hermes pieces on offer was lot 305,

a vintage silver cuff beautifully pierced

with stars and crescents. Complete with its

original box and packaging it realised $840;

almost doubling its low estimate. Hermes

was not the only show-stopper on Sunday

with lot 449, a superb, as-new condition

L’Extravagant overnight bag in Suhali

leather by Louis Vuitton realising $4,800

(IBP) – the price was a fraction of its retail

cost and represented astute buying. The

highest price for the auction again went to

Hermes with the sale of lot 330 (see earlier

in this piece) and confirmed the appetite for

high-quality “as new” (but not new!) leather

goods by luxury brands and that Australian

buyers are now feeling more comfortable

with the idea that they are collecting

beautiful pieces of design rather than simply

buying second hand items. The auction

realised $62,000 against a low estimate of

lots sold of $55,000, or 113% by value of lots

sold. The Pre-owned Luxury department is

now seeking entries for high-quality leather

goods or indeed entire fashion collections

for its mid-June 2012 auction. For enquiries

please contact John D'Agata on 8825 5605 or

email [email protected]

PRe-oWned LuxuRY At LeonARd JoeL

FOCUS ON HERMES

330

340

309

traVel FroM a bygone eraDespite missing its original locks, this nearly complete Ortner & Houle Crocodile Travelling Case Makers Mark Frederick Purnell, London, Circa 1884, realised 2880 (IBP). Typically these travelling cases are missing pieces that have been sold off separately so it was a rare pleasure to offer this very complete example of period travel luggage.

305

15 APRILleonard

wHat Is a prInt?

The current confusion about what is, and

what isn’t, an original print suggests, if noth-

ing else, that the Australian print market is

still in it’s infancy. The rest of the world, it

seems, has no problem with this issue, for

example : the William Weston Gallery, one of

the oldest print dealers in London, publishes

the European standard definition on the

inside front cover of each of it’s catalogues :

“An original print is an image produced from

a block, plate, stone or such like on which

the artist who conceived that image has him-

self worked. Every impression of an original

print is an original work of art in it’s own

right. The artist’s ideas are only expressed

in the printed image which results from this

work on the block. The choice made by the

artist to produce this image in ‘print’ does

not differ from the choice to work in oil, or

any other medium; the only difference in

‘print’ lies in the possibility of producing

a number of identical images, each one an

original work by the artist.”

This definition is consistent with that used

by the International Fine Print Dealers Asso-

ciation, New York, (IFPDA) of which the

William Weston Gallery is a member. IFPDA

lists over 180 members mostly in Europe and

the U.S.A.

The London Original Print Fair in it’s 20th

year published a more concise definition :

“An original print is an image produced from

a surface on which the artist has worked,

such as a stone or wood block or a copper

plate. This surface is intended by the artist

to be a stage in the creation of the artwork.

Thus the original work of art in this case is

the print itself rather than the block or plate

from which it is printed”.

The practice of the United States Customs

identifies an original artist’s print as a hand-

made image, available in multiples, where

the initial printing surface and successive

colour separations are made by hand and

not by a mechanical process - conversely,

with a reproduction the colour separations

are made mechanically, as in the case of

photogravure.

Such reasoning has it’s foundation in author-

itative texts such as Prints and Printmaking

by Anthony Griffiths, Keeper of the Depart-

ment of Prints and Drawings at the British

Museum, who in discussing the term ‘origi-

nal print’ refers to the revolution caused by

the invention of photography in the 1820s,

and the difference between reproductive

and non-reproductive processes. Griffiths

cites the invention of photography and the

spread of photomechanical images as origi-

nally causing confusion in the public’s mind

regarding the status of artist’s prints. Perhaps

it is history repeating itself with the recent

introduction of new technologies in print-

making again blurring of the boundaries

between original prints and reproductions.

Giclee prints for example, are digital ink jet

prints of a digital image file on a computer

or CD. Technically, if one just takes a snap

of an existing art work, downloads it onto

the computer and clicks ‘print’ without any

manipulation, they are reproductions. If the

artist signs it, as thousands of artists have

done, then it is a signed reproduction, and not

an original artist’s print. Where the problem

arises is when they are sold to an unsuspect-

ing public as an ‘original print hand signed

by the artist’ at an original price.

Such things as signed reproductions, in the

fine art, High-Art / Low-Art stakes belong

on a similar plane to facsimile prints, or

memorabilia. And this should (and usually is)

reflected in the price – just above a reproduc-

tion (you pay for the signature) but consider-

ably less than an original print.

But where the computer is used as an exten-

sion of the artist’s hand and, even better,

combined with hand made images by an

artist such as Milan Milojevic the original

intention and meaning of the appropriated

images is metamorphosed or montaged to

create something totally different. Artisti-

cally this process is not unlike the use of

photo-stencils in silk screen printing in the

1960s during the POP ART period in London,

where found text, photographs from maga-

zines and newspapers were appropriated

from a mass media context and reassembled

into a new meaning in a different medium.

Milojevic’s recent work is a good example of

just how rich a graphic dialogue can be when

combining traditional woodcut with appro-

priated digitally manipulated images. Such

experimentation with a new technology by

a contemporary artist is not dissimilar to the

way 19th Century artists very quickly sub-

sumed photography into their studio prac-

tice – the computer, like the camera before

it, is merely a tool, it’s what is visualised

through it that determines whether it is a

reproduction, non-reproduction, original or

copy, art or artifice.

With etchings where an artist like John

Olsen draws directly through a hard or soft

acid resist bituminous ground to expose the

copper plate, then bites it in the acid, inks it

up and prints it, there can be no confusion.

These prints, like those of Fred Williams, are

‘pure etchings’.

At a practical level, the key to whether a print

is original or not therefore lies in the degree

BY JEFF MAKIn

DEfiNiNg AN ORIGINAL PRiNT

16 leonardAPRIL

wHat Is a prInt?

of hand manipulation by the artist. There

are levels of originality. The accepted prac-

tice in major print workshops around the

world, and certainly at Port Jackson Press in

Melbourne, is that the creation of the plate,

stone, block or stencil must be 100% the art-

ist’s effort. During the proofing stages there

may be discussion between artist and printer

but it is the artist’s responsibility to get the

image up to a bon a tier (French for good

to pull) stage. The BAT is the full expression

of the artist’s idea, and the end of the crea-

tive process. The editioning by comparison

is repetitive work where each impression is

printed as close as possible to the BAT and

is carried out by the artist, or master printer

working with or under the artist’s instruc-

tion. If the artist is satisfied with each indi-

vidual impression, he signs and numbers it,

following which the plate, stone or stencil is

usually destroyed thus guaranteeing the ‘lim-

ited’ number and thus the rarity of the print.

This latter practice was introduced by 19th

Century printmakers (Whistler was thought

to have been the first to do so) to further dis-

tinguish artist’s prints from photomechani-

cal reproductions. Prior to this, artist’s print

were usually signed in the plate, and were

unnumbered. Hence the print market began

to be driven by rarity : all other criteria being

satisfied (that it is a good impression and the

best image from the best period of an artist’s

oeuvre) the number in the edition became a

factor determining price; the fewer the bet-

ter, with the unique one-of, in-state (prior

to reaching a BAT stage and outside the edi-

tion) proof becoming the most sought after,

and the most expensive, second only to the

BAT, which of course is the exemplar print,

and rarely if ever comes on the market.

There are many fallacies regarding the qual-

ity of an impression, such as buying low

numbers in an edition of etchings because

they are the best. This is only true where dry-

point has been used: this process produces a

burr along one side of an incision made into

copper with an engraving tool, and as it runs

through the press it sometimes breaks, or

wears off. Such a criteria is meaningless with

most other etching techniques particularly

when the plates are chrome faced (as is the

practice at PJP) to prevent wear from suc-

cessive runs through the press, and of course

with lithographs, relief prints, and silk screen

prints.

Many painters who are also printmakers

often work an idea from a painting to an

etching, and from an etching back to a paint-

ing as a way of reaching a better synthesis

of an idea: Olsen’s Seaport of Desire suite of

etchings (printed and published by PJP in

2003) refers back to earlier paintings of the

same name ; Jason Benjamin’s landscapes;

Robert Jacks James Joyce : House of the Dead

; Christine Johnson’s burnished aquatint

roses; Luke Sciberras, Mark Schaller and

David Larwill’s etchings, or Williams’s for-

est ponds, You Yangs and Lysterfield etch-

ings - all were worked at the conceptual

stage from ideas that may have been seen at

a different stage of development in a paint-

ing or earlier print. Hence the idea that a

print is a reproduction because it resembles

an image in another medium is also a fallacy

- it is a variation on a theme. And it doesn’t

even have to be your own theme: look what

Picasso did with Manet’s Luncheon on the

Grass, and Leon Kossoff with Poussin’s Rape

of the Sabines. Such interpretations are in

essence no different from Pavarotti singing

Puccini – it can work brilliantly if the artist

is in good voice.

The very best way to learn about prints is to

look at them. Printmaking by it’s very nature

is a visual language, not a verbal one. There

are many qualities, originality being one of

them, that only become apparent from con-

tinual looking, and by looking, comparing

and learning, the outcome of which is appre-

ciation, and ultimately, connoisseurship.

And if that doesn’t work for you ask a print-

maker, because they are truly the experts in

the field.

Jeff Makin, Artist & Art Critic

May 2006

This essay is an extract from Critical

Moments – Essays and Reviews on Art in Aus-

tralia, authored by Jeff Makin and published

by Macmillan Art Publishing 2011

Copyright ©2011, Jeff Makin

For too long the Understanding oF the diFFerences Between Prints has PerPlexed many art collectors.

in this article JeFF makin shines a

light on this Facet oF art Practice.

17 APRILleonard

ColleCtables

1. A trade box of six pre-war Dinky 280/1

Delivery Vans – Sold for $14,400 IBP, 2 May ,

2010. These vans were made circa late 1930s

and were supplied to toy shops in a yellow

trade box which contained six models. The

vans were then sold by the shop individually

and unboxed. Complete boxes are extremely

rare and are amongst the most sought after

Dinkys.

2. Mr Atomic Robot made by Yonezawa,

circa 1962 – Sold for $4,800 IBP, 31 Octo-

ber, 2010. This battery operated tinplate

Japanese robot features a distinctive plastic

domed ‘head’ with sixteen miniature flash-

ing lights. Its rarity and charm make it highly

sought after by space toy collectors. This

particular example was purchased at Myer

department store by the vendor’s grand-

mother and given to him when he was a

young boy. It was one of his most treasured

toys, hence its remarkable condition.

3. AWA Fisk Radiolette ‘Empire State’ Radio

- sold for $16,800 IBP, 21 March, 2010. An

iconic Australian bakelite radio, made in the

mid-1930s. As with most radios of this period

they were most commonly made in utilitar-

ian colours such as black, brown or white.

This green version is very rare; less than

twenty examples are known to exist.

4. Highly Important group of medals

awarded to WW1 flying ace and QANTAS

co-founder Lt. Paul Joseph McGinness –

Sold for $252,000, 20 November, 2011. These

medals are unique – McGinness is the only

Australian serviceman ever to receive both

the Distinguished Flying Cross and the

Distinguished Conduct Medal. The medals

were sold with an archive of photographs

and ephemera documenting the formation

of Qantas in 1920 by McGinness and Sir Wil-

mot Hudson Fysh.

5. 1895 VFA Premiership Football Presented

To Fitzroy Captain Tom Banks - sold for

$12,000, 22 May, 2011. This ball dates back

to the final round of the 1895 VFA season

when Fitzroy drew with South Melbourne

to secure their first Premiership. Tom Banks

was of West Indian descent an was an excep-

tional talent and was considered to be one of

Victoria's finest players during this period.

An important piece of Australian Rules Foot-

ball history.

WHAT MAKES A ToP FIVE CoLLECTABLE?

1

3

5

2

4

BY GILES Moon

18 leonardAPRIL

ColleCtables

HOLY HIGHLY COLLECTABLE RADiO BATMAN!Batman was created by Bob Kane and Bill Finger and was first introduced to the general public in Detective Comics #27, May, 1939. He was an instant success and was given his own comic book ‘Batman ‘ in 1940. ‘The Caped Crusader’ is one of a rare breed of Superheroes who do not possess any supernatural powers. Instead he battles evil with his faithful sidekick Robin, using physical strength, cunning and an array of ingenious gadgets. Batman’s secret identity is millionaire industrialist and playboy Bruce Wayne. One of the most popular depictions of Batman was in the ABC TV series which aired from 1966-1968. The show was more camp comedy than serious detective/action and featured memorable baddies played by established actors such as Cesar Romero ( Joker), Burgess Meredith (Penguin) and Vincent Price (Egghead). The Topp Super-Micro Bat Radio (pictured) was made during this period and would not look out of place on Batman’s famous yellow utility belt, alongside other gadgets such as the Batarang and Shark Repellent Bat Spray. For the time, this miniature radio would have been considered hi-tech and ultra cool with its edgy chrome detail and Bat logo fob. It’s accompanying fitted case is equally eye-catching. It features a colourful comic-strip graphic of Batman holding the radio in one hand. This radio is one of the rarest and most sought after vintage Batman collectables and is expected to realise $600-800.

now consigning collectaBles, toys & sPorting memoraBilia For JUly 2012

19 APRILleonard

serVICes

To celebrate the re-launch of the Leonard Joel Fine Art department and

its seasonal full colour catalogues, we are delighted to offer art sellers a

special selling arrangement for more valuable works of art.

For works consigned between April 1st 2012 until the end of December

2012 all clients of our Sunday Fine Art Auctions selling single works for

a hammer price of $40,000 and above will enjoy a 105% return on the

final sale price.

What this means is not only no transaction costs but also a 5% return

over and above the final hammer price. As an example, assume you

have a work of art that sells for $80,000. Instead of the normal transac-

tion costs that would be deducted from this sale price, Leonard Joel

will return to the seller net proceeds of $84,000. Simple – an enhanced

return and no transaction costs.

This offer only applies to single works consigned between April 1st 2012 and

December 31st 2012 for our Sunday Fine Art Auctions.

In November last year I started my new

role as Digital Media Manager at Leonard

Joel. I had a blank canvas, my starter tools

consisted of an eight year old website with

many quirks, an equally old email marketing

system with a large and very elite database of

client emails and no social media presence

at all. Yet my most valuable asset that I could

see was a fantastic business immersed in

history and bursting at the seams with activ-

ity, character, a passionate owner and staff

with expertise across every department.

In order to deliver the very essence of

Leonard Joel to the world via digital com-

munications I had a large and challenging

project but one that made me rub my hands

together in anticipation!

You may be following our Facebook, Twit-

ter and blog pages which aim to keep our

clients up to date with all the activity,

amazing items, auctioneers, viewings and

even a ghost sighting? Or perhaps you have

watched our video of the Japanese Robot in

action on YouTube? However

the biggest improvement

is still “in the post” - our

new website which will

not only revolutionise

your experience with us

but also change the way we

do things in house. It will be simple, fresh,

visual and elegant and allow our custom-

ers to quickly find out about how to

buy and sell, do advanced searches,

change their account details and

track their consign-

ments online.

Our launch date for

the new website is

to be confirmed but we will keep

you posted via our social pages and

email alerts so sign up and

stay informed.

Clare Greig

Digital Manager

THE LEonARD JoEL DIGITAL JoURnEY

MANY HAPPY [ART] RETURNS

BID LIVE AT oUR AUCTIonS on

FoLLoW US on

Facebook.com/Leonardjoel1919

FInD US on

Facebook.com/Leonardjoel

WATCH US on

youtube.com/Leonardjoel1919

enHanCIng your returns oTHER AUCTIon THE SUnDAY FInE ART

HoUSES AUCTIon

HAMMER PRICE $80,000 $80,000

CoMMISSIon CHARGE $9,600 No charge

InSURAnCE CHARGE $1,200 No charge

SALE PRoCEEDS $69,200 $84,000

Charges quoted exclude GST, are indicative only and vary auction house to auction house. Hammer price excludes buyer's premium and other conditions apply.

20 leonardAPRIL

They say politics is the art of the possible. In

that respect it was an enormous achievement

for Australia to introduce the resale royalty

scheme in late 2009.

But with the second anniversary of its com-

mencement due in June it is also now possi-

ble to conclude that the scheme:

• Willnotbeself-funding;

• Is most likely unenforceable for eligible

resales made offshore; and

• Creates too much bureaucracy for little

return.

In short the resale royalty right has become

the carbon tax for the arts. And like the car-

bon tax, should there be a change of govern-

ment at the next federal election, there has to

be serious doubt as to whether resale royal-

ties will continue in its current format.

That’s not to say the idea of a resale royalty

is a bad idea – there is merit in having a sin-

gle authority compile a database of valuable

art market resales – however the scheme has

to move from being a collecting society to a

repository of art market knowledge with the

skills to identify the schemers who occasion-

ally blight the market.

The resale royalty right is administered

by Copyright Agency Limited (CAL). It

was appointed by the Federal Government

shortly before the scheme commenced in

June 2010 for an initial period of five years.

According to its latest financial statements,

for the year ended 30 June 2011, CAL spent

about $3 million in developing internal com-

puter software and systems. It seems most of

this outlay was spent on resale royalties sys-

tems as the software will be written off over

five years – the same time span as CAL’s ini-

tial period to administer the scheme.

How will CAL recover this $3 million invest-

ment? The Federal Government has ear-

marked $1.5 million in government outlays to

establish the scheme, most of which will go

to CAL (conditional on its performance). The

other $1.5 million will have to come from rev-

enue derived from resale royalties collected

from the Australian art market.

In other words CAL will not earn a return

on its software investment, let alone paying

its staffing and other costs, unless it collects

resale royalties on eligible resales of $300

million in the first five years of the scheme.

CAL therefore requires the heroic assump-

tion of an average of $60 million per year in

reported resales of artworks to recover their

systems outlay and make this a user pays sys-

tem. If this can’t be achieved the scheme may

as well be funded from general revenue and

made workable for the efficiency of the art

market.

In the first 18 months of the scheme $10 mil-

lion in eligible resales were reported (about

$6 million of which came from the Aborigi-

nal art market). The total turnover of the

Australian secondary art market (in reported

public sales) for 2010 and 2011 was about

$100 million each year. It would be reason-

able to conclude a figure of $60 million per

year in eligible resales to make the scheme

work would be highly unlikely.

Could their shortfall be made up by collect-

ing resale royalties on sales of Australian art

offshore? This would not be likely judging

by the example of sales of Sidney Nolan art-

works, which I have discussed separately.

In fact, not all artists are in favour of the

scheme. A particular grievance is the fact

that they cannot opt out of the scheme

entirely but can only exempt eligible resales

one at a time. This is an example of the need-

less bureaucracy of the resale royalty right.

A recent change that is welcome, however, is

the removal of the reporting of eligible sales

worth less than $1,000.

Not two years yet into the scheme it is obvi-

ous that it should be modified for the one

true purpose it could serve - to preserve

the integrity of the art market by providing

a database of valuable artworks. There is

little financial gain in art market schemers

producing copies or fakes of artworks to the

value of say $5,000 or less and that is the sort

of low end threshold that would make resale

royalties more effective in its aims.

This would also eliminate the tokenistic

aspect of the scheme. The odd royalty pay-

ments of $250 or less are quite immaterial in

the greater scheme of sustaining an artist’s

practice. Unfortunately for many contem-

porary artists the trade-off with receiving

these royalties is a decline in their gallery

wall prices. This is becoming evident in the

Aboriginal art market, particularly as many

gallery sales now carry a 5% resale roy-

alty charge due to the Indigenous Code of

Practice.

It is clear this is not a user pays system but

CAL has now made the financial investment

into creating the systems needed to adminis-

ter the scheme. What is needed is the exper-

tise to run the scheme for the wider public

good. The idea of a collecting society is wor-

thy but should go further by incorporating an

art market investigations unit. More on this

idea in my next column.

ART BUSiNESS

art busIness

Michael Fox is a qualified accountant and

professional fine art valuer who successfully

ran the Save Super Art campaign to prevent

the prohibition of artworks from self-managed

superannuation funds (SMSFs). He is a member

of the Leonard Joel Valuation Panel and is

engaged exclusively by Leonard Joel to provide

advice to their clients in relation to artwork

investment in SMSFs. He may be contacted at

[email protected].

“the ARt oF tAxIng ConsIsts In so PLuCkIng the goose As to obtAIn the LARgest Amount oF FeAtheRs WIth the LeAst Amount oF hIssIng”.JEAn-BAPTISTE COLBERT, TREASuRER TO KInG LOuIS XIV

By michael Fox

It may not be well-known but currently no

resale royalties will be payable on the sale

of Nolan artworks. Nolan, one of the “top

5 artists” identified in the government’s

2004 discussion paper on the viability of

the then-proposed scheme, left his estate

to his widow, a British citizen living per-

manently outside of Australia.

The resale royalty scheme requires estates

of deceased artists to be managed by indi-

viduals or entities who satisfy what is

known as the residency test. Passing the

residency test requires one of three ele-

ments to exist: Australian citizenship, per-

manent residency of Australia or being “a

national or citizen of a country prescribed

as a reciprocating country”.

The last element would be satisfied if

Australia and the United Kingdom had

a reciprocal agreement in relation to

their respective resale royalty schemes,

however this has yet to occur. In fact no

reciprocal agreements have yet been put

in place with other countries with similar

resale royalty schemes.

In 2011 Sidney Nolan was the fourth most

valuable traded artist on the Australian

market with over 170 resales worth close

to $3.6 million. Should all future sales of

Nolan artworks be permanently exempt

from resale royalties, it could be argued

this will create a competitive advantage

over comparable artists who cannot avoid

the levy.

SIDnEY noLAn SALES EXEMPT FRoM RESALE RoYALTIES

21 APRILleonard

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leonard, issue 5, april 2012

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