Wieneke Archive Book 4h : Art Sales Presscuttings

r (4->it\s- \--64 t F%r,C, Re -kJ .<-.4.1 :A(.1 mats 15 6 s - For A £1,000 Investment Go Abstract Cont. from Page 2 banks experienced in the field will make exceptions. It is probably a sign of the times that a leading Australian bank has a study of the art market scheduled for next month's issue of its journal. Some general economic indica- tions may be given on what to buy in the current Australian market. Sculpture. for a start. may he ruled out as investment- although Australia has talented sculptors. The market is narrow and quiet, knd sculptors arc having trouble to make a living. Tapestries, in contrast, have an expanding market. Four by Olsen were sold this month al 1,200 guineas each, against £750 to £1,100. for paintings by the same artist. Drawings are interesting be- cause one can still pick up for £75 work by a painter like Dobell. Drysdale or Nolan whose oils might cost thousands. and the mirror work should benefit from a parallel long- term appreciation. Abstract paintings have a different "market action" to figuratives. They are harder to sell and their prices rise more slowly, but some rise lurthet, in proportion. "Abstract paintings." said a dealer who admitted that he was getting bored with them, "always seem to he too cheap or too dear, whereas you can usually rely on a good, consistent price for figurative work. "This means that they offer the possibility of great gain but at greater risk." Coming to the individual artists, it is clear that there are circumstances that can influence future market prices of their work. Fairweather, for example. is 75 and is near the end of his productive career-and this year he will receive the signal honour. so far enjoyed only by Dohell and Drysdale, of a retrospective exhibition in all Slate galleries. Dealers take that into ac- count when they name Fair- weather as the most underpriced of Australia's major, mature painters. Specifically. work of his now available for £300 is expected to fetch £1,000 within a few years. At the other end of the scale there arc young painters who are winning their first prizes, such as David Schlunkc and Mike Kitch- ing. and whose work can be had for £45 to £100 today, perhaps half what it will cost when they arc better known. We asked three dealers to draw up £1,000 portfolios of contemporary Australian works. readily available in Melbourne and Sydney galleries. which they expect to show substantial capital appreciation in the next few years. It is notable that no dealer suggested making up a portfolio from his "stable" alone, but freely recommended painters "tied" to rival galeries. TOMORROW: Who buys stamps? Can the coin craze last? DEALER ' A ' One Fairwi..oher tot ISOO Percival Boyd Blackman Olsen French Klippel lsculptur:r) DEALER "B" One Fair,. other at.. £.300 One (.. Dawes at .. £20C Ono Ray Crook at .. £200 One "Pro" Hart at.. WO Kitching Peascod B.. Seidel Any Schlunke (Our R Milgate at BlAckrnan .£50 (drawing) each ickieson (drawing) DEALER "C" Ono small J. Passmore at £400 Fairweather Any French two Pugh at Percival £300 F. Williams each Aly '+,o at £250 each Latin America's Hidden From FRIM:R ICK NOSSAL