Going once, going twice, going to be some big dollars spent at Heffel Fine Art Auction House's spring auction.
Though nothing will fetch anywhere near the $11.21-million price of Lawren Harris's Mountain Forms at Heffel's fall auction in 2016, this spring's Toronto sale includes more than 120 masterpieces, with the collection of works (by Harris, Jean-Paul Riopelle and Andy Warhol, among others) estimated to achieve upwards of $14-million.
The Globe and Mail spoke to auctioneer and Heffel president David Heffel about the auction and how a 1926 mountain painting shook up the art world.
You were the auctioneer at the podium when Harris's Mountain Forms went for a record-breaking price last November. What did you mean when you said it was one giant leap for the Canadian art market?
It put us in a much higher stratosphere of value for our work. The sale was a fundamental building block toward establishing Toronto as an international arts centre. We believe is was a pivotable moment in establishing the Toronto market into a pole position – fifth in the world as a visual arts secondary marketplace, following New York, London, Paris and Hong Kong. It's not a result of Heffel. It's an entire ecosystem at work.
So what does all that mean to Canadians who don't have millions to spend on art?
I think it will create an opportunity for Canadians to be exposed to a larger activity of important international art, with art stars around the world perhaps being interested in the Toronto art market. It's also great for young, aspiring artists to feel they can make their investment in their career and have an opportunity to become international art stars. We're seeing that now, with Geoffrey Farmer and Jeff Wall and Douglas Coupland and a lot of photo conceptualists from Vancouver.
We're seeing it with historical artists such as Jean-Paul Riopelle as well, right?
Yes. We're about to see an additional leap in his marketplace. We have global interest in his Vent du nord painting, which is the cover lot of our catalogue. That work is the finest Riopelle we've ever had the opportunity to bring to market. So, I think the energy and synergy we saw with Mountain Forms by Lawren Harris last November is going to continue on to our spring sale.
What can you say about the impact of the art collector and comedian Steve Martin's championing of Harris?
It was huge. It was monumental. Harris was a major show that opened at the Hammer Museum in Los Angeles at the time of year that probably was the most strategic month in their annual schedule. The championing by Steve Martin drew in international media. It helped propel the results that we saw last November with Harris and subsequently with private transactions.
The name of the collector who bought the Harris piece was never made public. Just between you and me, who was it?
Well, that's up to the buyers in our auctions to discuss their ownership. It's a question often asked. But we maintain a policy of confidentiality. It's not an option to disclose.
Can you blink once if it was Steve Martin?
No. We don't do that. But we're passionate about the works that we're selling on the podium. We've lived with them over the course of six months or longer. In the weeks preceding the auctions, we talk to thousands of collectors in Vancouver, Toronto and Montreal.
What work in this spring auction has you excited?
I've fallen in love with David Milne's New York painting, City Rain. It's a beautiful canvas painted in 1911. I think there's only two Canadian artists painting in a manner at the level of avant-garde in 1911. Milne is one. Emily Carr is the other. They're far ahead, I think, of the Group of Seven in paintings that even look very modern today. The estimate for the Milne is $275,000 to $325,000.
I might want in on that. Do you offer a layaway plan?
No. But something we're pursuing is introducing finance into our marketplace. This is a new opportunity for Canadian art collectors to finance acquisitions as easy as getting a mortgage. We believe it will add additional liquidity and greater activity in the marketplace.
Heffel's spring live auction of Post-War & Contemporary Art and Fine Canadian Art takes place May 24, 4 p.m. and 7 p.m.; the works will be on view to the public from May 20 to 24. Design Exchange, 234 Bay St., 416-961-6505 or heffel.com.
This interview has been edited and condensed.
Brad Wheeler