seamus dubhghaill

Promoting Irish Culture and History from Little Rock, Arkansas, USA


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Cash-strapped Aer Lingus Auctions Paintings

by-merrion-strandCash-strapped Aer Lingus auctions its collection of paintings on November 20, 2001. Most money goes on By Merrion Strand by Jack Butler Yeats, an oil-on-canvas, which sells for £290,000.

Aer Lingus, already in difficulties, is left in an even more perilous position by the effects of the September 11 terrorist attacks in the United States. The airline decides to realise some of its assets by selling 25 paintings from the company art collection. Members of the public are given an opportunity to buy part of Aer Lingus well ahead of any possible share flotation. The paintings are handed over to Dublin auctioneer John de Vere White and are offered at the Royal Hibernian Academy Gallagher Gallery on November 20 with the expectation of bringing around £500,000 (€635,000).

Visitors to Dublin Airport or Aer Lingus’s various offices notice very little change as in recent years only two of the paintings are on display, both of them in the chairman’s office. The remainder have been in storage which is one reason why the group are now being sold as part of Aer Lingus’s efforts to raise additional revenue.

One of the pictures removed from the chairman’s office is also both the longest-owned by the organisation and is ultimately the highest earner at auction. Jack Butler Yeats’s By Merrion Strand, which dates from 1929 and shows a woman standing before an expanse of the south Dublin coastline, is acquired by Aer Lingus in 1940, just four years after the company’s founding. According to company lore, it was spotted in London by a member of staff who left a £5 deposit on the painting.

Two paintings by Nathaniel Hone also have reasonably strong pre-sale estimates, Children on the Rocks valued at £25,000-£35,000 and Cattle in a Field at Malahide believed to be worth £10,000-£15,000. Other artists represented in the Aer Lingus collection being sold include Louis Le Brocquy, Patrick Collins, Norah McGuinness, Gerard Dillon and George Campbell.

Five other works in the collection, all acquired by the airline between the 1940s and the 1960s, are bought by the Irish state ahead of the auction.

(Pictured: By Merrion Strand, an oil-on-canvas painting by Jack B. Yeats, dating from the late 1920s)

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Francis Bacon Triptych Sells for £23 Million

francis-bacon-triptychA triptych of Lucian Freud portraits by his Irish-born friend Francis Bacon sell for £23 million at Sotheby’s in London, three times the pre-sale low estimate, on February 10, 2011.

Three Studies for a Portrait of Lucian Freud, which is painted in 1964 and shows Bacon’s friend and fellow artist with a variety of facial expressions, creates a buzz before the sale. The question is not if it will make its pre-sale estimate of £7 – £9 million, but how much higher might it possibly go.

More than 10 bidders from four different continents compete for the work. After seven minutes of bidding, it reaches £20.5 million and a hopeful telephone bidder asks if £20.6 million can be offered. The auctioneer, Tobias Meyer, insists on £21 million. There is applause as he finally bangs his hammer.

Cheyenne Westphal, the auction house’s chairman of contemporary art in Europe, says, “This striking painting has everything a collector in the current market is looking for. It is an artwork that radiates ‘wall-power’ with its brilliant colour and dramatic brushstrokes.”

The triptych has been in the same private collection for nearly 50 years and is a testament to the close friendship of two of the titans of 20th century British art. This triptych, Sotheby’s says, contains an “intensity and intimacy that is rarely seen elsewhere.”

Bacon, who dies in 1992, and Freud are kindred spirits, close friends who often see each other every day. They gamble together, drink in the same Soho dens and paint each other.

At the same auction, Salvador Dalí‘s Portrait of Paul Eluard sells for £13.5 million, at a stroke tripling the record auction price for a Dali set at Christie’s on the previous Wednesday, and becoming the most expensive surrealist artwork sold at any auction.

The paintings are part of a truly wondrous private collection. The sale of 60 works from it also includes paintings by Amedeo Modigliani, Alberto Giacometti, Marc Chagall and Joan Miró. There are many gems, including a tiny 12.5 by 9.5 cm Lucian Freud self-portrait that he painted in Jamaica while visiting Ian Fleming at his house, Goldeneye. It sells for £3.3 million.

(Credit: Mark Brown, Arts Correspondent, The Guardian, Feb. 10, 2011)