Auction season closing out 2024, a barometer for art market

Using the momentum of the end of year auction season to gain advantage, Smith & Singer (formerly Sotheby’s) – which is recognised as Australia’s premium auction house – has announced the opening of a new permanent gallery space in Toorak, Melbourne.

Spokesperson David Mackay, said of the new showing rooms: “Set within the stunning and historic Darnlee mansion, this new location represents an extraordinary commitment to providing a world-class setting for the presentation and sale of significant works of art, sculpture and jewellery.”

Geoffrey Smith, Chairman, Smith & Singer added: “We have admired this landmark property over many decades and respect its history and integrity. Darnlee mansion allows us to present museum-quality exhibitions, offering our clients an exclusive, intimate and inspiring experience as they view remarkable pieces of Australian and international art and precious jewellery.”

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The circa 1899 heritage-listed Victorian-era Melbourne mansion at 33 Lansell Road, Toorak, joins Smith & Singer‘s Sydney viewing rooms at 30 Queen Street in Woollahra. The inaugural exhibition at Darnlee will be a preview of their ‘Important Australian Art’ auction ahead of its Sydney sale on 27 November – the last of the 2024 season.

It is a competitive sector, with five similar major auctions presenting their closing sales for 2024, all within a week. Kicking off tonight (22 October) is Leonard Joel’s auction of significant Australian and international artists, with a featured selection of Indigenous Art, to be held at 2 Oxley Road, in the inner eastern Melbourne suburb of Hawthorn in Victoria.

That will be followed by Bonhams’ auction of ‘Important Australian Art’ on 24 November in Sydney, then  Shapiro with its ‘Australian and International Art’ auction on 25 November, which is currently on view at its rooms at 46 Balfour Street, Chippendale (Sydney).

And rounding out the auction season will be Sydney-based Deutscher and Hackett, which will present its ‘Important Australian + International Fine Art’ auction in its Melbourne rooms at 105 Commercial Road, South Yarra on 26 November.

With a softer year for the art market to date, and still no news on interest rate cuts, these auctions will be an interesting barometer to gauge the climate, and the deeper implications for the gallery market and visual arts sector in general.

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