A 2006 oil on acrylic on canvas sells for $55,000 at an auction at the International Art Centre in Auckland last night.
Flagship piece, Vive Aramoana (pictured), sells for $183,000.
“Wealthy people don’t want to put their money into property or the sharemarket or finance companies. They’re seeing art as a very strong asset class.” – Auckland gallery director Gary Langsford
At least two major early works by ailing artist Ralph Hotere – unaffected by issues of gifted ownership – are expected to be included in an important art auction in March.
Others are expected to be offered in April.
Auctioneer Richard Thomson, of Auckland’s International Art Centre, told the National Business Review he was still negotiating final details but was confident the Hoteres would be offered without hitch.