Category: Cowley Abbott Updates

  • Building Your Collection: Understanding Value and Navigating the Auction Market

    Navigating the art market can be both an exciting and a daunting task for new buyers, experienced collectors and art market professionals. With a plethora of commercial galleries, online purchase platforms and auctions seemingly running 24/7, the buying options are limitless. At Cowley Abbott, we prioritize exceptional customer service and take pride in assisting our clients find the perfect artwork to either add to or begin their collection. In this article we will look at some key factors to consider when looking to start, build or mature your art collection, as well as the benefits of buying at auction.

    Christopher Pratt, Girl on my Couch (1984)

    Where to Start?

    Of course, one’s aesthetic taste is an obvious starting point. When a client inquires about what artist, time period or style of art they should collect, we encourage first to scan galleries, auctions and online resources to pinpoint what naturally appeals. Once there is a clear idea of an overall genre, style or even a particular artist that a collector wants to focus on, this establishes a solid foundation to build upon. Investment and future value are the next factors to consider. Although collecting art is an emotional and subjective process for collectors, the financial aspect of collecting is a natural and valid query. Invariably, the next question asked is, which artist or artwork will hold value over time.  There is no crystal ball to consult to ensure that an artist or artwork will maintain its economic value, just as there is no guarantee that one’s financial investments will hold steady without change. However, auction, by virtue of its transparency, establishes a sense of confidence. Estimates and hammer prices reflect the realistic expectations of the secondary market for an artwork and artist, no matter a collector’s budget.

    Jean Paul Riopelle, Feuilles VI (1967)

    New collectors often seek an understanding of the art market before committing to their first purchase. This strategy takes into account a collector’s taste and shifting art market trends. Bearing this in mind, works on paper by major artists who trade at auction are an excellent buying option for new collectors.  Typically, works on paper, such as drawings, watercolours and prints, offer a lower financial entry point and are an excellent example of the artist’s production, while allowing the collector to inform their aesthetic taste. Canadian artists, such as Jack Bush and Christopher Pratt, produced works on paper in tandem with their painting, developing fascinating and sometimes unique, experimental testimonials to their overall practice. “Sash”, “Totem” and “Thrust”, prints by Jack Bush, offer bright renderings closely linked to both his works in gouache and his large canvases. Similarly, Pratt’s graphite drawings of nude models and interiors are often the basis for both his coveted print works and paintings, functioning as intentional works of their own. Works on paper offer an incredible opportunity to understand the technical process of an artist. Notes on colour, shading, location and even the time of day can be conveyed, providing a unique insight into completed works by the artist.

    As a new collector, the benefit to both monitoring and participating in auctions is accessibility to the wide variety of works included in these auctions, either online or live. A collector can study the online auction catalogues, view multiple images of the works included, request condition reports on specific artworks and compare artworks to navigate their own interests and taste. At Cowley Abbott, we offer dedicated sales of Works on Paper, taking place in February and July, offering an exceptional opportunity to begin collecting or build upon an established collection.

    I know what I like, how do I navigate value?

    Jack Bush, Purple Thrust

    Researching and learning more about major art movements, artist collectives, groups and periods all contribute to a more well-rounded understanding of the cultural value of artworks. This aids in further distilling a collector’s taste; perhaps gravitating to one artist of a major group over another and establishing a more finite point to begin collecting.

    Navigating the estimates applied to artworks is an integral component to collecting. When auction houses ascribe estimates to artworks, the value is based upon past results for an artist at auction. Our specialists research comparable works by the artist, taking into account various attributes, such as medium, dimensions, style, overall quality and period for the artist. Hammer prices and auction estimates for these comparable pieces are taken into consideration in order to provide realistic expectations for artworks offered at auction. This recognized practice of valuation establishes greater transparency for new collectors navigating the auction market.

    The Basics of Understanding Value

    ArtTactic professionals have broken down the stages of an artist’s trajectory in order to measure the relationship between the cultural and economic value of their work within the art market. The following factors are considered when offering an artwork at auction, allowing further insight into how and why specific artwork by an artist may achieve a higher value.

    1. Formation Phase
      1. Art School
      2. Grad Show
      3. Local collector interest / exhibiting with smaller or younger galleries
      4. Art Fair showing
      5. Curator interest
      6. International interest (though less so with Canadian art given the regional market)
      7. Reputable Artist Prizes
    1. Expansion Phase
      1. Move to representation with established gallery / solo exhibition
      2. Acquisitions by major collectors
      3. International solo exhibition
      4. AUCTION DEBUT—works selling above expectation
    1. Consolidation Phase
      1. Strong and Consistent auction market activity
      2. Consistent commercial and museum exhibition activity

    Further factors to consider include condition, quality, characteristics of the artwork, the provenance and, to an extent, rarity. Though rarity can aid in increasing the value of an artwork — for instance if the work is a sketch or panel for an important work by the artist — it can also have an adverse effect (ex. an artwork depicting a floral still life by an artist who is celebrated for their work in abstraction). For new collectors, it is an important component to be mindful of, as rarity can equate to a smaller pool of collector interest should one seek to sell in the future to mature a collection or should aesthetic tastes change.

    These factors are guidelines to understanding established value, how specialists arrive at estimates, and driving forces for market trends. If there is a strong emotional draw to an artwork, collectors should trust their instincts and collect works that they will enjoy and that will enrich their collections.

    How can Cowley Abbott assist?

    Our monthly online auctions are an opportunity for a collector to ‘check’ the pulse of the market and dabble in their own collection journey. Interested collectors are invited to monitor the progress of our auctions and the performance of a specific artwork with no obligation to bid or participate. Our easy to navigate website offers a comfortable and convenient environment to participate should a collector wish, while our team of specialists are available to assist with any questions or concerns regarding artworks, or the auction process. The artworks included in the online auctions are available to preview at our gallery, and we invite you to visit us to view the works in person (should you be in the Toronto area or find yourself here visiting during our previews).

    Guido Molinari, Untitled (Vertical blanc)

    Our live auction of Important Canadian Art, which takes place in the spring and fall each calendar year, offers fresh insight into the auction world. We invite clients and collectors to experience the excitement of a live auction, as the event is open to the public and there is no obligation to participate. We provide extended gallery preview times to view the artworks included in these auctions to accommodate travel and scheduling realities, while flexible bidding options are available (in-person, absentee and telephone). The opportunity to view and engage with rare, museum-quality works is a privilege we love to share with our clients.

    Our boutique firm specializes in Canadian Fine Art and our team of experienced and trained professionals is available to answer your collecting queries. We emphasize transparency in our business and market discussions with clients. We publish the price realized for all artworks sold at auction, partnering with global art market indexes, and provide full cataloguing information for all artworks we are entrusted with for sale. We strive to provide clients and collectors with the highest level of service, and we would be delighted to assist you in your collecting journey!

  • Records Broken During Electric Fall Auction Season at Cowley Abbott

    Molly Lamb Bobak, Highland Games, Fredericton
    Price Realized: $100,300 (Auction Record)

    Through the November and December live and online auctions, Cowley Abbott achieved strong results for consignors, with multiple records broken, while connecting collectors at all levels with artwork of quality and rarity.

    The Cowley Abbott Fall Live Auction of Important Canadian Art drew a standing-room only audience to the Gardiner Museum on Tuesday, November 19th, the gallery packed with collectors who drove bidding to record levels in several instances through successful sales of select work by Canada’s celebrated historical, post-war and contemporary artists.

    Jean Paul Lemieux, Basse messe, dimanche
    Price Realized: $330,400

    Jean Paul Lemieux’s Basse messe, dimanche, an expansive and immersive museum-level canvas by the key figure of Canadian modernity, captivated visitors to the Cowley Abbott gallery during the weeks of previewing that led to November evening sale. When bidding concluded, the artwork had fetched $330,400, a solid result for the mature work which was featured on the front cover of the fall auction catalogue.

    From the moment of publication of the auction online, excitement surrounded Molly Lamb Bobak’s Highland Games, Fredericton, a large and energetic canvas, portraying a celebratory and energetic scene, a subject which has proven to be Bobak’s most popular with collectors. When the artwork reached the podium, it did not take long for feverish bidding to push competition well beyond pre-sale expectation. When the gavel finally fell, a new auction record had been established for the painter, the final bid reaching $100,300 (all prices include the 18% Buyer’s Premium), more than tripling the pre-sale estimate.

    William Kurelek, Pioneer Homestead on a Winter’s Evening
    Price Realized: $82,600

    The work of William Kurelek also drew strong attention during the fall live auction season. Two paintings appeared at auction with Cowley Abbott for the first time, consigned by the original Toronto collector, who owned them for almost fifty years. The quality and rarity of the pair of paintings led to Pioneer Homestead on a Winter’s Evening fetching $82,600 (exceeding the high-end of expectation) and Brothers selling for $95,000. The strong results continue Cowley Abbott’s tradition of success in the sale of important work by the Ukrainian-Canadian artist.

    The November live auction witnessed solid prices for a wide range of historical Canadian works of art, including the work of: Cornelius Krieghoff (Hudson Bay Trader fetching $47,200); André Biéler (The Market Stall almost doubling the high-end auction estimate to sell for $29,500); Frederick Banting (Inlet, French River selling for $28,320); Clarence Gagnon (La Mare, Baie St. Paul, a 1920 sketch related to a canvas in the National Gallery of Canada, sold for $23,600); and P.C. Sheppard (St. Lawrence Market fetching $23,600), among many others.

    Jean McEwen, Rose traversant les jaunes
    Price Realized: $88,500

    A variety of Post-War and Contemporary offerings also drew competitive bidding during the fall catalogue sale, notably: Jean McEwen’s Rose traversant les jaunes (the canvas fetching $88,500, more than four times the opening bid); Gordon Smith’s West Coast #2 (exceeding the high-end of expectation, selling for $40,120); Autumn Foothills by Takao Tanabe (selling for $37,760); Sorel Etrog’s Small Chair (Hand) (fetching $28,320), Marcel Barbeau’s 1947 Dents de sable à cran d’acier(in excess of the auction estimate’s upper range, selling for $23,600); and Ronald York Wilson’s Untitled (the large canvas almost doubling the auction estimate, achieving $22,420).

    The success of the November live auction continued in the subsequent November and December online sessions, where bidders across Canada and beyond competing for a wide range of work that catered not only to seasoned collectors, but also to new and intermediate clients, continuing to establish their collections.

    Franklin Arbuckle, True Lover’s Leap, Newfoundland
    Price Realized: $30,680 (Auction Record)

    Franklin Arbuckle’s True Lover’s Leap, Newfoundland inspired great excitement nation-wide when the canvas was added to the Cowley Abbott website. The rare and dramatic east coast landscape by the celebrated painter had remained in the same private collection since 1964, Alfred Upton delighted to receive the painting as a retirement gift from Dominion Life Assurance. Upton loved the painting and requested the painting when given the option to choose a token of appreciation when his time with the firm finished. The painting had been purchased by Dominion Life in 1949 to be featured in their yearly calendar that annually featured the work of a different Canadian artist. The work was chosen, in consultation with A.J. Casson, for its quality and also to commemorate Newfoundland joining confederation. True Lover’s Leap, Newfoundland had been exhibited in the 1949 Royal Canadian Academy showing at the Montreal Museum of Fine Arts and was not only reproduced in the exhibition’s catalogue, but was also noted in a Gazette article which discussed the annual show. The debut of the canvas at Cowley Abbott once again had the painting drawing media attention, with a two Newfoundland Telegram articles (found here and here) that followed its record-breaking performance during the auction. The artwork sold for $30,680, more than five times its opening bid and more than double the previous auction record for Franklin Arbuckle’s work.

    Rita Letendre, Antares Glows
    Price Realized: $28,320

    Rita Letendre’s Antares Glows also excited collectors during the online sessions to end the year, the dramatic 1969 canvas selling for $28,320 (exceeding the high end of expectation). Online bidding was furious through the two auctions, leading to stellar prices for artist across the many periods, schools and associations through Canadian history, with results of note including the work of: F.M. Bell-Smith, Frank Armington, A.J. Casson; Frederick Loveroff; Mary Wrinch; Manly MacDonald; Stanley Turner; M.A. Fortin; Malcolm Rains; Jean Paul Riopelle; Art McKay; David Urban; Ron Bloore; Doug Morton; Ken Lochhead; Ted Harrison; Chris Pratt; Maud Lewis; Allen Sapp; and Joe Fafard.

    We extend our thanks to the clients, bidders and buyers who helped to ensure that 2019 was another very successful year for Cowley Abbott. We are already preparing a very exciting schedule of sales for 2020 and look forward to sharing it with you.

  • Museum-Quality Canvas by Quebec Master Jean Paul Lemieux Debuts at Cowley Abbott Fall Auction

    Jean Paul Lemieux, Basse messe, dimanche

    Basse messe, dimanche by Quebec Master, Lemieux is among historical and post-war auction highlights from Consignor Canadian Fine Art, now Cowley Abbott

    October 23, 2019 (Toronto, ON) – An exceptional opportunity to own a major canvas by one of Canada’s most celebrated painters is up for auction from Cowley Abbott (formerly Consignor Canadian Fine Art) as part of its semi-annual Fall Live Auction of Important Canadian Art, taking place Tuesday, November 19 at Toronto’s Gardiner Museum. Presenting key work by Canada’s preeminent historical and post-war artists, many of which will be going under the hammer for the first time, the newly minted Cowley Abbott will also be celebrating the rebrand of the auction house under the monikers of its principals, Canadian auction industry veterans Rob Cowley and Lydia Abbott.

    Jean Paul Lemieux’s Basse messe, dimanche (Low Mass, Sunday), painted in the classic style for which the artist is most celebrated, will make its auction debut with an estimate of $300,000 – $500,000. Basse messe, dimanche is a stunning canvas that depicts a group of parishioners exiting a church in the early morning, exposed to the winter cold under the harsh light of a white moon. Measuring nearly eight feet wide, the painting is one of the largest of the period by a key figure in Canadian modernity. Imbued with themes of Nordic sensibility and melancholy, Lemieux drew inspiration from memories of a bygone era in which Quebec traditions, customs, and popular religious beliefs gave life and structure to the artist’s community.

    “It is our privilege to introduce Basse messe, dimanche to the public for the first time at auction,” said Rob Cowley, President, Cowley Abbott. “This commanding, stunning canvas provides Jean Paul Lemieux’s classic view of Quebec and Canadian culture, effectively capturing themes of community, faith and isolation across an expansive winter landscape. The rich colour and larger-than-life characters that occupy the spectacular composition have stopped collectors in their tracks during early previews of this important painting by one of our country’s most renowned painters.”

    The fall auction also provides a chance to own a piece of Canadian history, with a rare work on offer by Canadian scientist, physician, painter and Nobel Prize recipient Sir Frederick Banting. European Landscape (1925) was painted during his trip to Europe where he accepted the prestigious Nobel Prize in Physiology or Medicine for his involvement in the discovery of insulin; and the work provides a rare glimpse from Banting at the point of receiving the highest honour in his field. As the then youngest laureate and first Canadian to receive the prestigious prize, Banting was also named Time Magazine’s “Man of the Year” on the cover of its August 1923 issue, making him a renowned figure of scientific progress around the world. The painting has a distinguished provenance that includes being privately owned by members of the Banting family, and is accompanied by a letter from Banting’s son detailing the piece’s history and the trip during which the painting was created. European Landscape has a pre-auction estimate of $20,000 – $30,000, which Cowley Abbott anticipates could exceed expectations.

    Multiple key works by William Kurelek will be featured in Cowley Abbott’s fall live auction including Pioneer Homestead on a Winter’s Evening (1971). Housed in a custom frame made by Kurelek, the painting depicts a Ukrainian woman drawing water from a well on the Canadian prairie in winter, and is an exemplary showcase of the artist’s characteristic themes and subject matter related to immigration, farming on the Prairies, Ukrainian heritage, and the harsh beauty of the Western Canadian landscape. The painting comes from the private collection of a Ukrainian-Canadian family in Toronto with an auction estimate of $50,000 – $70,000.

    From the same collection comes Brothers, a larger winter farming painting by William Kurelek that has an auction estimate of $100,000 – $150,000. Commissioned by the family following their purchase of Pioneer Homestead on a Winter’s Evening, the composition presents two brothers walking together on a vast Prairie landscape, distantly following their father upon a horse-drawn sleigh.

    “Our Fall Auction of Important Canadian Art features striking and rare examples by our country’s illustrious painters, sculptors and print-makers. Entrusted to our firm from Canadian and International private and corporate collections, it is a pleasure for our team to present these fantastic works to the collecting public, in many cases for the first time.” – Lydia Abbott, Vice-President, Cowley Abbott

    Other notable artworks featured in Cowley Abbott’s Fall Live Auction include:

    • A 1936 painting by Emily Carr depicting the Strait of Juan de Fuca, is a richly coloured work alive with the movement of the ruggedly beautiful British Columbia landscape. The painting comes from a United States private collection, available at auction for the first time with an estimate of $125,000 – $175,000
    • Two rare canvasses by 19th century master Cornelius Krieghoff, bothfrom a private collection: Indian Encampment by a River Autumn (1849) is being offered with a pre-sale estimate of $60,000 -$80,000 and Hudson Bay Trader (1845-47) at $40,000 – $60,000
    • La Mare, Baie St. Paul, a 1920 oil on panel by Quebec painter Clarence Gagnon. This panel, a sketch for The Pond in October housed in the National Gallery of Canada’s permanent collection, is being offered with an estimate of $15,000 – $20,000
    • A trailblazer for women in the arts in Canada, Molly Lamb Bobak’s Highland Games, Fredericton is expected to excite collectors with its colourful and heavily populated setting during the city’s Highland Games Festival. This large 40” x 48” canvas is likely to exceed its pre-sale estimate of $30,000 – $50,000
    • One of Canada’s earliest and most renowned champions of abstraction, Bertram Brooker’s Autumn Bouquet makes its first appearance at auction, subject to a $20,000-30,000 estimate. Cowley Abbott set an auction record for a work by Brooker in the fall of 2018, Delta Ice House more than tripling its opening bid to fetch $82,600

    Historical offerings in the auction also include the workof the Group of Seven, Sybil Andrews, J.W. Beatty, André Biéler, J.W. Morrice, P.C. Sheppard, M.A. Suzor-Coté, Robert Pilot and Frederick Verner.

    Post-War Contemporary and Abstraction artists are also strongly represented in the sale with works by David Blackwood, Jack Bush, Greg Curnoe, Sorel Etrog, Paterson Ewen, Joe Fafard, Betty Goodwin, Ted Harrison, Gershon Iskowitz, Maud Lewis, John Little, Jean McEwen, Norval Morrisseau, Kazuo Nakamura, William Perehudoff, Bill Reid, Goodridge Roberts, Otto Rogers, Gordon Smith and Takao Tanabe.

    Live previews will take place at the Cowley Abbott Gallery located at 326 Dundas Street West (located across the street from the Art Gallery of Ontario) beginning the weekend of Art Toronto – Friday, October 25. Cowley Abbott’s Fall Live Auction of Important Canadian Art will take place on Tuesday, November 19 at 7 p.m. EST at the Gardiner Museum located at 111 Queen’s Park, Toronto, ON.

    Since its inception in 2013, Cowley Abbott’s live and online auctions have included headline-grabbing works such as a rare 100-year-old Tom Thomson portrait (Daydreaming, sold for $172,500), a celebrated depiction of Kensington Market by William Kurelek (Hot Day in Kensingon Market, sold for $472,000), and Jack Bush’s Summer Lake, which broke online auction records in May 2014 for the most expensive painting by a Canadian artist to be sold in an online auction ($310,500). Their inaugural live auction event in May 2016 set the record for the highest-selling Algoma sketch by Lawren Harris, fetching $977,500, tripling the previous auction record.

    Cowley Abbott is currently accepting consignments for its upcoming auctions. Cowley Abbott offers all-inclusive selling commissions and the lowest buyer’s premium in the industry. Those interested in consignment can arrange a complimentary and confidential consultation by contacting Cowley Abbott’s specialists at 1-866-931-8415 or mail@cowleyabbott.ca.

  • Consignor Canadian Fine Art rebrands as Cowley Abbott

    September 3rd, 2019 (Toronto) – Effective today, Consignor Canadian Fine Art has rebranded to become Cowley Abbott.

    The change provides a more “human” face to the firm, with a focus upon the managing owners & partners, Rob Cowley and Lydia Abbott.

    The management structure and services of the company remain unchanged and past Consignor domains and addresses will remain active, ensuring a smooth transition for clients. Cowley Abbott will continue to operate in the same gallery, located at 326 Dundas Street West, Toronto (across the street from the Art Gallery of Ontario).

    Cowley Abbott’s fall auction season begins with the September Online Auction of Canadian & International Artwork (bidding open September 10th-17th) and culminates with the Fall Live Auction of Important Canadian Art on Tuesday, November 19th (consignment deadline of September 25th).

    Cowley Abbott is currently collecting consignments for the upcoming live and online auctions. The firm offers standard all-inclusive selling commissions and the industry’s lowest buyer’s premium. Contact Cowley Abbott to arrange a complimentary, confidential consultation at mail@cowleyabbott.ca.

  • Spring Season Sees Strong Results for Canadian Historical & Post-War Artwork

    Claude Tousignant, Absurdo (1964) – Price Realized $188,800

    May 28, 2019 (Toronto, ON) – An energetic and hypnotizing canvas by Claude Tousignant had bidders spellbound during the Tuesday evening Consignor Canadian Fine Art Spring Live Auction of Important Canadian Art, when it fetched $188,800 (all prices include the 18% Buyer’s Premium), more than tripling the opening bid. Absurdo (1964) drew feverish bidding attention from participants in the room and on the telephone before being hammered down well beyond expectation.

    David Milne’s Soft Hills (Misty Hills) (Boston Corners, N.Y.), a masterful 1917 watercolour also attracted strong attention in the packed auction gallery at Toronto’s Gardiner Museum, finally selling for $112,100, more than doubling the painting’s pre-sale estimate of $40,000-60,000. The stunning watercolour appeared for its first time at auction with Consignor and the rarity drew praise and attention from collectors across Canada.

    Algoma Sketch XCII (Algoma Autumn), a 1920 oil sketch portraying the region where the Group of Seven embarked on their earliest sketching trips as an official association sold for $125,000 during the week, while a small graphite sketch by the artist (Algoma) fetched $25,960, exceeding its pre-sale auction estimate.

    A close friend of Harris and Group of Seven, Tom Thomson’s Road Near Leith (1908) sold for $100,300, the early canvas, depicting the region where the painter was born and his family lived, exceeding the high-end of expectation.

    Prairie-born Colour-Field painter William Perehduoff also turned heads during the May auction with AC-69-29 (1969) commanding strong competition in the auction gallery before finally selling for $51,920, more than doubling the opening bid volleyed by the auctioneer.

    Other notable results during Consignor’s spring auction include:

    • Bill Reid, Bear Cub Pendant (1990), the 22k gold jewellery work by the internationally renowned Haida artist, fetched $47,200 (exceeding the high-end of pre-auction expectation).
    • Jack Bush, Ochre Blue Square, the small canvas by the celebrated post-war painter selling for $30,680, while an earlier, 1951 work by the artist, Lovers, sold for $28,320 (within expectation).
    • William Kurelek, Tale of a Dog, a gift from the painter to the consignor, a fellow framer and friend, achieved $10,620 (exceeding the high-end of pre-auction expectation).
    • Frederick Varley, Spring Meadow, Don Valley, a vivid canvas painted during the period in which the Group of Seven were associated, sold for $28,320 (within expectation).

    The season continues with a second online session of Canadian artwork on offer until June 5th and a further session of Canadian and International artwork included in the Consignor June Online Auction between June 9th and 16th.