FROM KSA INDUSTRIES, INC: A BUD ADAMS COMPANY
LIVE AUCTION: SEPTEMBER 13, 2025
COVER
Charles M. Russell (1864–1926)
Start of the Roundup, 1898, Estimate: $180,000 – $250,000
FRONTISPIECE A
Charles M. Russell (1864–1926)
Buffalo Coat (detail), ca. 1905, Estimate: $50,000 – $75,000
FRONTISPIECE B
Melvin Warren (1920–1995)
The Last of His Kind (detail), 1979, Estimate: $80,000 – $120,000
ANNUAL LIVE AUCTION
SEPTEMBER 13, 2025
PREVIEWS
All artwork available for preview Monday – Friday, 9am – 5pm Saturday, 11am – 6pm (June-September)
Jackson Hole Art Auction Showroom 130 East Broadway, Jackson, Wyoming
LIVE AUCTION
Luncheon | September 13 at 11am Live Auction | September 13 at 12pm
Live Auction and Luncheon to be held at Center for the Arts, 265 South Cache, Jackson, Wyoming
BIDDING & REGISTRATION
Absentee and phone bidding arrangements must be made by September 12.
Register Absentee and Telephone bids online: jacksonholeartauction.com/registration
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Online bidding is available through: Jackson Hole Art Auction, Live Auctioneers, and Invaluable
Please direct all inquiries to (307) 734-9739 and visit jacksonholeartauction.com for more information
FURTHER INFORMATION
This is not a catalog for the auction. The sale of each lot is subject to our Terms & Conditions, which are listed in the auction catalog and are viewable at jacksonholeartauction.com/terms-conditions.
Estimates are subject to change. Refer to the auction catalog at bid.jacksonholeartauction.com for final estimates.
FROM KSA INDUSTRIES, INC: A BUD ADAMS COMPANY
Kenneth S. "Bud" Adams, the late owner of the Tennessee Titans and a prominent Texas oilman, was a true giant of American industry. His business deals were legendary; his art collection extraordinary. The remarkable legacy he left through his extensive collection of Western art offers profound insight into the artistry and history of the Old West.
He collected masterpieces by celebrated artists such as Charles M. Russell, William R. Leigh, Joseph Henry Sharp, and Eanger Irving Couse—artists that were instrumental in shaping the visual narrative of the American West.
As an enrolled member of the Cherokee Nation with ties to Texas and Oklahoma's early days, Bud Adams had a personal connection to the heritage he sought to preserve, and his collection reflects his dedication to celebrating both Western expansion and Native American cultures.
Bud Adams’s passion for preserving the cultural heritage of the American West culminated in one of the most significant donations to the Eiteljorg Museum of American Indians and Western Art in Indianapolis, Indiana.
Jackson Hole Art Auction is honored to present Titans of the American West from KSA Industries, Inc: A Bud Adams Company. This corporate collection offers a rare opportunity to acquire works from a legendary Western art collection. Featuring unspoiled landscapes from Julian Onderdonk and Peter Hurd, captivating sporting scenes from John Cowan and W.R. Leigh, vibrant Native American portraits from Joseph Henry Sharp, E.I. Couse, and E.S. Paxson, and riveting scenes of cowboy life from C.M. Russell and Melvin Warren—this is a collection that embodies the complex history, vibrant cultures, and enduring promise of the American West.
JOHN COWAN (1920–2008)
Dead Calm
watercolor on paper
21 1/2 x 29 1/2 inches signed lower left: Cowan
Provenance:
Connally & Altermann Art Gallery, Houston, TX (label verso)
Altermann Art Gallery, Dallas, TX, (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$20,000 – $30,000
PETER HURD (1904–1984)
The Madison Mountain Fault
watercolor on paper
23 1/2 x 21 1/2 inches signed lower left: Peter Hurd
Provenance:
Sotheby’s New York, Arcade, September 1994, Lot 245
Acquired by KSA Industries, Inc. (label verso) from the above
$8,000 – $12,000
Raven Ridge, Utah
watercolor on paper
21 x 26 inches
signed lower left: Peter Hurd
Provenance:
Sotheby’s New York, Arcade, September 1994, Lot 251
Acquired by KSA Industries, Inc. (label verso) from the above
$8,000 – $12,000
MELVIN WARREN (1920–1995)
The Last of His Kind, 1979
oil on canvas
36 x 60 inches
signed and dated lower left: © Melvin C. Warren (artist cipher) 1979
Provenance:
Western Heritage Sale (label verso) Acquired by KSA Industries, Inc. (label verso) from the above
$80,000 – $120,000
KENNETH RILEY (1919–2015) Fresh Sign
oil on canvasboard
12 x 16 inches
signed lower right: Kenneth Riley © (artist cipher)
Provenance:
Altermann & Morris Galleries, Dallas, TX, Houston, TX & Santa Fe, NM (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$15,000 – $25,000
JULIAN ONDERDONK (1882–1922)
On the San Antonio River
oil on canvas
16 1/2 x 24 1/4 inches signed lower left: Julian Onderdonk Catalogue Raisonné: #532
Provenance:
Sotheby’s New York, Arcade, September 1994, Lot 135
Acquired by KSA Industries, Inc. (label verso) from the above
Literature:
Harry A. Halff, Elizabeth Halff, and Emily Ballew Neff, Julian Onderdonk: A Catalogue Raisonné, Yale University Press, 2016, illus. p. 169, #532
$25,000 – $45,000
Grand Canyon
oil on board
13 1/2 x 9 3/4 inches
signed lower right: JHSharp
Provenance:
Havard Frères Dorure – Encandrement, Paris (label verso)
Sotheby’s France S.A. (label verso)
Sotheby’s New York, March 1994, Lot 68
Acquired by KSA Industries, Inc. (label verso) from the above
Literature:
Forrest Fenn, The Beat of the Drum and the Whoop of the Dance: A Biography of Joseph Henry Sharp, Santa Fe, 1983, p. 324
$20,000 – $30,000
ROY ANDERSEN (1930–2019)
Bartering the Spanish Pony
oil on canvas
34 x 48 inches
initialed lower left: R/A
signed lower right: Roy Anderson (artist cipher)
Provenance:
Coeur d’Alene Art Auction, July 1997, Lot 309
Acquired by KSA Industries, Inc. (label verso) from the above
Literature:
“After the 1680 Pueblo Revolt, many horses were taken by the Rio Grande People. Having no use for such a surplus, they traded them to the Comanche. At one bartering session no deal could be struck, so the Comanche simply returned that night and stole the entire pony heard.” – Roy Andersen
Jan Adkins, Dream Spinner: The Art of Roy Andersen, Settlers West Galleries, 2000, illus. p. 96
Michael Duty, Don Hedgpeth, Cowboy Artists of America, Greenwich Workshop Press, 2002, illus. p. 25
$50,000 – $75,000
DAVIS (1942– ) Ever the Wagons Come, 1994
oil on canvas
30 x 24 inches signed and dated lower right: 1994·©·Davis
Provenance: KSA Industries (label verso)
$4,000 – $6,000
TOM LOVELL (1909–1997)
The Earth House People, 1986
oil on canvas
34 x 26 inches
signed and dated lower right: Tom Lovell NAWA © 1986
verso: titled, signed and dated
Provenance:
National Cowboy Hall of Fame, National Academy Western Art Show, 1986 Coeur d’Alene Art Auction, July 1997, Lot 234
Acquired by KSA Industries, Inc. from the above
Exhibited:
“The Earth House People is a moment of quiet contemplation as they watch the setting sun with their sleepy dog. Note the long lance held by the old man. This was a defensive weapon used by the Mandans and now just useful as something to lean on.” – Tom Lovell
National Academy Western Art Show, National Cowboy & Western Heritage Museum, Oklahoma City, OK, 1986
$75,000 – $125,000
16 1/2 x 12 inches
signed and dated lower left: Tom Lovell © ‘84+
Provenance: KSA Industries
$25,000 – $45,000
TOM LOVELL (1909–1997)
Watering Horses, 1992
oil on canvas 26 x 36 inches
signed and dated lower left: Tom Lovell NAWA © 1992 verso: titled, signed and dated
Provenance:
National Cowboy Hall of Fame, National Academy Western Art Show, 1992 Coeur d’Alene Art Auction, July 1997, Lot 232
Acquired by KSA Industries, Inc. (label verso) from the above
Exhibited:
National Academy Western Art Show, National Cowboy & Western Heritage Museum, Oklahoma City, OK, 1992
$150,000 – $250,000
“According to John Ewers, the family care of horses was generally entrusted to boys except during the most severe winter months, when men of the household took over. When camp was not on the move, horses were driven to the nearest lake or stream three times a day. In the evening after the final watering, the lead mare would be hobbled to prevent the herd from straying. Often it was necessary to break the new skim of ice that had formed during the night.” – Tom Lovell
ROY GRINNELL (1933– )
Turning Star - Crow
oil on canvas
15 x 20 inches
signed lower left: R. Grinnell ©
Provenance:
Connally & Altermann Art Gallery, Houston, TX (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$1,500 – $2,500
JOHN MOYERS (1958– )
Distant Voices
oil on canvas
36 x 30 inches signed lower left: - John Moyers - (artist cipher) verso: titled and signed
Provenance:
Altermann & Morris Galleries, Dallas, TX, Houston, TX, Santa Fe, NM & Hilton Head Island, SC (label verso)
Acquired by KSA Industries, Inc. from the above
$8,000 – $12,000
(1953– )
Firewood for the Padre, 1999
oil on canvas
30 x 40 inches
signed and dated lower right: Terry Kelly Moyers © ‘99’ verso: titled and signed
Provenance:
Altermann & Morris Galleries, Dallas, TX, Houston, TX, Santa Fe, NM & Hilton Head Island, SC (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$6,000 – $9,000
JAMES BOREN (1921–1990)
In Old San Antonio, 1984
oil on canvas
36 x 52 inches
signed and dated lower right: James Boren © 1984 (artist cipher)
Provenance:
Western Heritage Sale, Houston, TX, April 1985 (label verso)
Altermann & Morris Galleries, Dallas, TX, Santa Fe, NM, & Houston, TX (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$15,000 – $25,000
WILLIAM R. LEIGH (1866–1955)
Grizzly’s End, 1948
oil on canvas
25 x 40 inches
signed and dated lower left: W.R. Leigh 1948 ©
Provenance:
Kennedy Galleries, New York, NY (label verso)
Sotheby’s New York, December 1984, Lot 104
Acquired by KSA Industries, Inc. (label verso) from the above
Literature:
June Dubois, W. R. Leigh: The Definitive Illustrated Biography, The Lowell Press, Kansas City, 1977, illus. p. 77
The Kennedy Quarterly, vol. iv, number two, December 1963, illus. p. 83, fig. 79
$300,000 – $500,000
W.R. Leigh visited Wyoming for the first time in 1910 as part of a hunting expedition, and he returned to grizzly country several summers between 1910 and 1921. He reveled in Wyoming’s unblemished wilderness, exploring the countryside on foot and painting en plein air. Witnessing the hunts first-hand provided Leigh with a wealth of inspiration and lent an authentic quality to his sporting works.
Grizzly’s End depicts the interplay between wilderness and human endeavor, with the grizzly bear serving as a powerful symbol of untamed nature and the vanishing Western frontier. It exemplifies Leigh’s mastery in capturing the raw drama of the American West, blending European academic technique with a visceral frontier narrative.
JOSEPH HENRY SHARP (1859–1953)
Contemplation
oil on canvas
14 x 10 inches
signed lower right: JHSharp
Provenance:
Havard Frères Dorure – Encandrement, Paris (label verso)
Sotheby’s France S.A. (label verso)
Sotheby’s New York, December 1983, Lot 139
Acquired by KSA Industries, Inc. (label verso) from the above
$30,000 – $50,000
JOSEPH HENRY SHARP (1859–1953)
Rabbit Hunters in Roundup
oil on canvas
18 x 24 inches
signed lower right: JHSHARP
verso: titled and signed
Provenance:
Sotheby’s New York, March 1994, Lot 69 (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$75,000 – $125,000
“One afternoon when Sharp was painting on the open plain about two miles west of the pueblo, Soaring Eagle came riding up on his pony and persuaded the artist - paint box and easel in hand - to mount up behind him. The Indian spurred his pony and they took off like a shot. Sharp hung on desperately, clutching his box and easel with one arm and his friend with the other. The Indian chuckled all the way, then as abruptly as he had started, ‘whoaed’ the pony to a stop, causing Sharp to half tumble to the ground. The artist was furious until he looked ahead and saw a hundred or more braves preparing for a rabbit hunt. He realized that Soaring Eagle had wanted him to see the Indians in a natural setting, a scene much more interesting than any he could have imagined.” – From Teepee Smoke by Forrest Fenn, 2007
EANGER
IRVING COUSE (1866–1936)
The Hunter, 1917
oil on canvas
30 1/4 x 36 1/4 inches
signed lower left: E · I · Couse ·
Catalogue Raisonné: 0894 / id # 897
Provenance:
Howard Young Galleries, St. Louis, 1923
Sotheby’s New York, 1984
Acquired by KSA Industries, Inc. (label verso) from the above
Literature:
Melville Johnson, Taos the Brilliant, Shadowland vol. VII, no. 6 (February 6, 1923), illus. p.45
Nicholas Woloshuk, E. Irving Couse: 1866-1936, Santa Fe: Santa Fe Village Art Museum, 1976. Monograph, illus. p.20
$150,000 – $250,000
Eanger Irving Couse’s depictions of Native American life in the early 20th century offered a humanizing counterpoint to the prevailing myths of the time. Not drawing from “noble savage” and “vanishing race” narratives, Couse’s subjects were grounded in everyday life and depicted as noble, introspective, and harmonious with their surroundings.
In The Hunter, it is not the physical act of hunting that is depicted, but rather the “spiritual, mythic and primeval aspects of reality that are fundamental to Native American ways of life.”
– From Native American Religions by Sam D. Gill, 2004
ERNEST MARTIN HENNINGS
(1886–1956)
Homeward Bound (Sunset Near Taos)
oil on canvas
30 x 30 inches
signed lower left: E. Martin Hennings
verso: titled
Provenance:
Village Gallery, Taos, NM
Estate of Earl C. Adams, 1972
Coeur d’Alene Art Auction, July 1997, Lot 258 (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$150,000 – $250,000
Taos Society artist Ernest Martin Hennings made Taos his home in 1921 and remained there until his death in 1956. In his Taos works, Hennings created poetic visual connections between the people and the stunning high desert where they lived, conveying a deep, soulful connection to the region.
In this impressionistic rendering, Hennings contrasts a moody foreground—a barefoot worker prodding a donkey along a shaded cottonwood-lined path—with glowing upper foliage and distant hills, cast into high relief by the emblematic true-blue New Mexico sky.
KENNETH RILEY (1919–2015)
Welcome Shade, 1980
oil on canvasboard
30 x 26 inches
signed and dated lower left: Kenneth Riley 1980 ©
Provenance:
Jim Fowler’s Period Gallery West
Altermann & Morris Galleries, Houston, TX (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
Exhibited: American Traditions: Art from the Collections of Culver Alumni, Eiteljorg Museum of American Indian & Western Art, Dec. 12, 1993 - Mar. 6, 1994
$20,000 – $30,000
10 x 12 inches
signed lower left: O.C. Seltzer
Provenance: KSA Industries (label verso)
$10,000 – $15,000
Portrait, 1908
watercolor on paper 9 x 7 inches
signed and dated lower right: E·S: Paxon - 1908 -
Provenance: KSA Industries
$5,000 – $7,000
CHARLES M. RUSSELL (1864–1926)
Buffalo Coat, ca. 1905
watercolor on paper
12 3/8 x 8 5/8 inches
signed lower left: C M Russell (artist cipher)
Catalogue Raisonné: CR.PC.346
Provenance:
Christie’s New York, December 1997, Lot 79
Acquired by KSA Industries, Inc. from the above
$50,000 – $75,000
CHARLES M. RUSSELL (1864–1926)
Start of the Roundup, 1898
watercolor on paper
14 1/2 x 20 1/2 inches
signed and dated lower left: CM Russell (artist cipher) 1898
Catalogue Raisonné: CR.UNL.502
Provenance:
The Artist Estate of Frances G. Evans, Arizona
Sotheby’s New York, December 1984, Lot 105
Acquired by KSA Industries, Inc. from the above
Exhibited:
American Traditions: Art from the Collections of Culver Alumni, Eiteljorg Museum of American Indian & Western Art, Dec. 12, 1993 - Mar. 6, 1994
$180,000 – $250,000
“By the end of the 1890s, living and working in north-central Montana since the age of sixteen, Russell reached a pinnacle of achievement in the watercolor medium that few American artists of his time managed to attain...
Russell always considered himself a better watercolorist than a painter in oils.”
– From Charles M. Russell: Watercolors 1887-1926 by Rick Stewart, 2016
Bucking Bronco, 1912
oil on canvas
36 x 24 inches
signed and dated lower right: J.N. Marchand - 1912 -
Provenance:
Sotheby’s New York, Arcade, March 1994, Lot 186 (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$20,000 – $30,000
JOE BEELER (1931–2006)
The Approaching Storm
oil on canvas
24 x 40 inches
signed lower left: Joe Beeler (artist cipher)
verso: titled and signed
Provenance:
Western Heritage Sale (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$40,000 – $60,000
WILLIAM R. LEIGH (1866–1955)
California Mountains
oil on board
7 3/4 x 9 1/4 inches signed lower right: W. R. Leigh
Provenance:
Sotheby’s New York, Arcade, September 1994, Lot 136
Acquired by KSA Industries, Inc. (label verso) from the above
$3,000 – $5,000
OLAF WIEGHORST (1899–1988) Navajo
oil on canvas
24 x 30 inches signed lower left: O · Wieghorst (artist cipher)
Provenance:
Christie’s New York, September 1996, Lot 130
Acquired by KSA Industries, Inc. (label verso) from the above
$20,000 – $30,000
OLAF WIEGHORST (1899–1988)
Meditate
gouache on paper
8 1/2 x 12 1/2 inches
signed lower left: O - Wieghorst (artist cipher)
Provenance: Drummond Gallery
Acquired by KSA Industries, Inc. (label verso) from the above
$3,000 – $5,000
OLAF WIEGHORST (1899–1988)
Indian on Horseback, 1976
watercolor on paper
12 x 10 inches
signed and dated lower left: O - Wieghorst (artist cipher) © 76
Provenance: KSA Industries (label verso)
$3,000 – $5,000
OLAF CARL SELTZER (1877–1957)
Piegan Brave / Blackfoot Warrior
watercolor on paper
6 3/4 x 8 1/2 inches
signed lower left: O.C. Seltzer.
Provenance:
Wunderlich & Company Inc, New York, NY (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$5,000 – $7,000
PETER HURD (1904–1984)
Adobe, 1925
gouache on paper
9 1/4 x 7 1/2 inches
signed and dated lower right: Peter Hurd 1925
Provenance:
Sotheby’s New York, June 1983, Lot 337
Acquired by KSA Industries, Inc. from the above
$2,000 – $3,000
)
30 x 36 inches
signed lower left: John Moyers (artist cipher)
Provenance:
Altermann & Morris Galleries, Dallas, TX, Houston, TX, Santa Fe, NM & Hilton Head Island, SC (label verso)
Acquired by KSA Industries, Inc. (label verso) from the above
$10,000 – $15,000
OLEG STAVROWSKY (1927–2020)
Wild Encounter, 1984
oil on canvas
42 x 38 inches signed lower left: Oleg Stavrowsky verso: titled, signed and dated
Provenance:
Altermann Art Gallery, Dallas, TX (label verso) Acquired by KSA Industries, Inc. (label verso) from the above
$5,000 – $7,000
JOHANN BERTHELSEN (1883–1972)
Snowy Afternoon in Manhattan
oil on canvas
20 x 16 inches
signed lower right: Johann Berthelsen
Provenance:
Sotheby’s New York, Arcade, September 1994, Lot 201
Acquired by KSA Industries, Inc. (label verso) from the above
$4,000 – $6,000
Fifth Avenue in the Snow
oil on canvas
20 x 16 inches
signed lower right: Johann Berthelsen
Provenance:
Sotheby’s New York, Arcade, September 1994, Lot 202
Acquired by KSA Industries, Inc. (label verso) from the above
$4,000 – $6,000
