Posted by Aboriginal Art Directory | 27.03.10
Author: Gabriella Coslovich
News source: The Age
The art auction year got off to a hesitant start in Melbourne on Wednesday night, indicating that it was still very much a buyers' market - and that buyers were treading warily.
In the year's first big auction, Deutscher and Hackett put 276 Aboriginal artworks put under the hammer - but only 164, or 59 per cent, sold. In all, a total of $1.57 million of art was sold (including buyers' commissions), 60.5 per cent by value, markedly less than the $2.175 million to $3.102 million Deutscher and Hackett had anticipated.
''There is a bit of caution; people don't seem to be as prepared to take a punt on a good painting,'' said Crispin Gutteridge, Deutscher and Hackett's head of Aboriginal art.
As a signatory to the Indigenous Art Code we are committed to ethical and transparent business dealings with Indigenous visual artists and abide by the standards set out in the Code.