LEONARD, issue 7, June 2012

Issue SEVEN / JUNE 2012

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Cover 206 A DIAMOND RIVIERE NECKLACE BY KOZMINSKY $35,000 - 45,000

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Auction Sunday 17 June 2012

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Leonard Joel Specialists Valuation AND CLIENT Services

Monique Le Grand Phone + 61 (0) 3 8825 5620 Email monique.legrand@leonardjoel.com.au Corporate & Private collections

John Albrecht, Managing Director Phone 0413 819 767 Email john.albrecht@leonardjoel.com.au Art

Briar Williams, Head of Art Phone + 61 (0) 3 8825 5608 Email briar.williams@leonardjoel.com.au Jewellery

John D’Agata, Head of Jewellery Phone + 61 (0) 3 8825 5605 Email john.dagata@leonardjoel.com.au Classic furniture, Objects and Design

Guy Cairnduff, Head of Classic Furniture, Objects and Design Phone +61 (0) 3 8825 5611 Email guy.cairnduff@leonardjoel.com.au Collectables

Giles Moon, Head of Collectables and Books Phone + 61 (0) 3 8825 5635 Email giles.moon@leonardjoel.com.au Books and Manuscripts

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Pre–Owned Luxury

John D’Agata, Head of Jewellery Phone + 61 (0) 3 8825 5605 Email john.dagata@leonardjoel.com.au

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Natural History

Giles Moon, Head of Collectables and Books Phone + 61(0) 3 8825 5635 Email giles.moon@leonardjoel.com.au

youtube.com/Leonardjoel1919

The Specialist Collector for single owner auctions

Guy Cairnduff, Head of The Specialist Collector Phone +61 (0) 3 8825 5611 Email guy.cairnduff@leonardjoel.com.au

BID LIVE AT OUR AUCTIONS ON

The Weekly Auction

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Leonard Joel Primary Salerooms 333 Malvern Road, South Yarra, Victoria 3141 Australia

Photography

Designer

Tel: +61 (0) 3 9826 4333

Rick Merrie

Maria Rossi

Fax: +61 (0) 3 9826 4544

FOReWord

ONCE UPON A TIME THERE WAS A SIMPLE VENDOR COMMISSION

BY John Albrecht

The good old-fashioned vendor commission (or seller’s charge)

We felt terrific but we had no idea what guarantee and the advance.

the delay between “agree to go to auction”

we were saying! What had been recognised The guarantee

and “funds in the bank” just too long to wait.

internationally; that a simple sub-20 com- The guarantee is available at Leonard Joel For these clients and if the value of the item/s

If memory serves me correctly (to borrow mission rate was an unsustainable margin for for more valuable single items and my simple justifies it, a cash advance can be sought for my favourite phrase from the introduction an auction house that “did everything” in a explanation of a guarantee is the following. a fee that can be secured against items before of Iron Chef ) auction charges were a simple vastly more complex consumer environment, A guarantee is in effect getting the auction they go to auction. This advance is then either affair until the late 1980s. In the good old would soon be recognised by Leonard Joel house to commit to an absentee bid at a set deducted from the proceeds of sale or setdays clients were charged one simple com- and its peers in Australia too. The buyer’s price before the auction. If there is no third tled against items held by the auction house mission rate that covered everything. At this premium now is a well established charge to party bid at the guarantee price or no fur- in the event of items going unsold; however time commission rates hovered between 12 the buyer at auction and is not greeted with ther bidding beyond the guarantee price or generally speaking advances are structured and 16% and when GST was not even a twin- the howls of protest and outrage that it gen- “house bid”, the item is sold to the house and to ensure that the items value comfortably kle in John Howard’s eye. Then the big inter- erated some twenty years ago and is now a the seller receives those funds less any nego- covers the amount advanced. national houses, probably genuinely, realised rather simple affair that 99% of the audience tiated charges. But if the item sells for more More complexity but that the vendor commission as the only mar- understand and accept as part and parcel of than the guarantee price, the difference (or more choices the “upside” as it is known) is typically split There is no doubt that we live in a more comgin an auction house could “make” would the purchase price. not be enough to sustain the ever-growing So while buyers have a fairly straight forward between auction house and seller. The guar- plex auction world and there are those that complexity and sophistication demanded by experience vendors now are, in my opinion, antee therefore offers a client a guaranteed find “alternative” selling arrangements just clients for more beautiful displays, more dra- spoilt for choice or perhaps bombarded result with the opportunity for some upside. too complex to bother with but for those that matic auction rooms, better administration (depending on how they feel) with alterna- The price for the guarantee I hear you ask? are looking for a more flexible approach to of their collections and slicker marketing and tives – let me briefly explain. communications.

The buyer’s premium

The modern day vendor commission

Sharing the upside with the auction house. selling or one that simply provides them with The guarantee is a useful tool for those want- more certainty, then the advance, the guaring to “lock in” a minimum sale price but still antee or a bespoke solution that is a blend of

Enter the buyer’s premium! I vividly remem- The simplest method for a seller at auction share in any upside that may be achieved the two represents a welcome expansion of the options that the auctioneer can provide ber a Leonard Joel auction in the late 1980s these days involves negotiating a commission come auction day. the seller who may need something more when we declared on the rostrum that we rate, accepting an indemnity fee (previously The advance “had not and would not” introduce a buyer’s known as an insurance charge) and usually a Finally there is the far simpler to explain than just the “good old fashioned vendor premium. The dramatic, hasty and rather nominal set fee for handling and storage. But advance. With sometimes long lead times commission”. naive declaration was met with roars of sup- beyond these arrangements vendors have between auctions and extended settlement port from the antique dealers in the room. other levers at their disposal- namely, the periods after an auction, some sellers find

Leonard

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JUNE

Contents

Thinking of Selling?

From Single Items to Collections

JUNE Contents

Tailored Trust and Estate Services

If you have a single item or collection you Leonard Joel has a long and distinguished wish to sell, the Leonard Joel team of spe- history of assisting both trust companies and cialists can guide you through the entire val- executors with the dispersal of important

Calendar 3

uation and auction process. We can provide collections. We provide fiduciaries (lawyers,

News 4

no less than thirteen categories of auction to with a complete suite of services to manage

JUNE ART

6

of catalogue auctions in Australia. Leon- of large and small estates. Our services are

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market valuations for the entire spectrum and dispersal of fine art, antiques, jewel-

The ANDY MAc Collection

you with experts across all collecting fields, trust officers, accountants and executors) select from and the most expansive calendar accurately and successfully the dispersal ard Joel specialists conduct insurance and specially designed to aid in the appraisal of clients - private collectors, corporations, lery, objet d’art, collectables, books & manu-

The Graham geddes collection 14

museums, fiduciaries and government enti- scripts and general household contents.

CLASSIC FURNITURE, OBJECTS

ists on a daily basis.

& Design

ties are advised by our valuers and special-

Our specialists are now sourcing single items and collections for the following categories:

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The Weekly

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Upcoming auctions

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Australian and International Art Fine Jewellery and Wristwatches Pre-Owned Luxury Classic Objects and Furniture

Jewellery 18

Modern Design

collectables 20 TRIBAL ART

22

MODERN DESIGN

23

Valuation services

24

Art BUSINESS

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Single Owner Collections Collectable Toys and Sporting Memorabilia Militaria Books and Manuscripts

Classical Subscribe

Get Leonard all the time With more specialist categories and auctions than any auction house of its kind in Australia, Leonard is the simplest way to remain abreast of all forthcoming auctions, important sales results, events and auction news. With expert contribu-

Classic Furniture, Objects & Design Auction Sunday 3 June 2012 at 12pm

tors from all fields of collecting Leonard will be an indispensable tool for both the seasoned auction-goer and the new collector alike. Leonard is available

178 A BOXED SET OF PLASTER RELIEF PLAQUES AFTER THE ELGIN MARBLES 19TH CENTURY, JOHN HENNING (1717-1851) $2,500 - 3,500

both free at Leonard Joel and online or can be subscribed to for an annual fee of $44 inc GST (postage & handling). Visit us online at www.leonardjoel.com.au or for subscription information contact keryn.gilchrist@leonardjoel.com.au.

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Leonard

Calendar

Forthcoming Auctions The Weekly Auction

Every Thursday in 2012 – 10am 333 Malvern Road, South Yarra, Melbourne, Victoria

Classic Furniture, Objects & Design Auction Sunday 3rd June 2012 – 1pm

333 Malvern Road, South Yarra, Melbourne, Victoria

The Specialist Print Auction

Thursday 7th June 2012 – 11.30am 333 Malvern Road, South Yarra, Melbourne, Victoria

Monthly Toy Auction

Thursday 14th June 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Fine Jewellery Auction

Sunday 17th June 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Pre-Owned Luxury Auction Sunday 17th June 2012 – 3pm

333 Malvern Road, South Yarra, Melbourne, Victoria

The Sunday Fine Art Auction Sunday 24th June 2012 – 2pm

333 Malvern Road, South Yarra, Melbourne, Victoria

The Danish Furniture Auction Thursday 5th July 2012

333 Malvern Road, South Yarra, Melbourne, Victoria

The Granny's Market Auction Sunday 15th July 2012

1098 High Street, Armadale, Melbourne, Victoria

Collectables, Toys & Sporting Memorabilia Auction

ANGELO LELLI A TRIENNALE THREE ARM FLOOR LAMP Italy, c. 1952 Sold for $9,600 IBP

Sunday 22nd July 2012 – 12pm

333 Malvern Road, South Yarra, Melbourne, Victoria

Photographic Auction

Sunday 22nd July 2012 – 2pm 333 Malvern Road, South Yarra, Melbourne, Victoria

Modern Design Auction Sunday 19th August 2012

333 Malvern Road, South Yarra, Melbourne, Victoriaa

The Graham Geddes Collection of Important Antique Furniture & Objects Auction Saturday 15th to Monday 17th September 2012 333 Malvern Road, South Yarra, Melbourne, Victoria

Auctions and viewing times are subject to change.

Leonard Joel is a proud supporter of Arts Project Australia

Leonard

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JUNE

News

LUXURY AT LEONARD JOEL

Asian ANTIQUE Art

In little more than twelve months Leonard Joel has established the largest secondary market in Australia for Hermes and other leading international brands. John D’Agata, Head of Preowned Luxury (POL) at Leonard Joel, is now offering his clients quarterly POL auctions for their excess luxury and a surprisingly buoyant market that has more than once realised prices that have exceeded retail prices! On this page we highlight Hermes at auction over the last twelve months at Leonard Joel.

A Kelly Handbag by Hermes Sold for $7,800 IBP

220 A CHINESE CARVED JADE BOWL AND CARVED BOXWOOD STAND QING DYNASTY, 19TH CENTURY $3,000 - $5,000

A Blue Jean Birkin Handbag by Hermes Sold for $7,200 IBP

227 A PAIR OF JADE ‘PHOENIX’ VASES WITH STANDS 19TH/20TH CENTURY $1,500 - 2,600

A Birkin Handbag by Hermes Sold For $12,000 IBP

Classic Furniture, Objects & Design Auction Sunday 3 June 2012 at 12pm Preview Wednesday 30 May 2012 9am – 8pm Thursday 31 May 2012 10am – 4pm Friday 1 June 2012 10am – 4pm Saturday 2 June 2012 10am – 5pm

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Enquiries Guy Cairnduff Head of Classic Furniture, Objects & Design (03) 8825 5611 / 0407 828 137 guy.cairnduff@leonardjoel.com.au

Leonard

news

PhotographY

Is your fine art Auction House returning you 105% of the sale price?

AUCTION SUNDAY 22 JULY 2012

If not speak with a Leonard Joel art specialist who are now offering sellers of valuable art a 105% return on the final sale price. If we sell your painting for $40,000 or more, you will enjoy no transaction costs PLUS a 5% rebate over and above the sale price.

Conditions apply.

To enhance your art return contact: Briar Williams Head of Art (03) 8825 5608 briar.williams@leonardjoel.com.au

ATTENTION FINE ART SELLERS

Nathan Miller (Born 1950), Fame and Fortune on Highway 61, silver gelatin print

Leonard Joel is now seeking entries for its forthcoming Photography Auction to be held in July 2012.

Already consigned is a fantastic collection of Bruno Benini’s fashion photographs, works by Rai Banda and Nathan Miller’s snapshots of the Mississippi.

New Collector nights

For all enquiries contact Briar Williams (03) 8825 5608 / briar.williams@leonardjoel.com.au

Monthly Toy AUCTION AUCTION THURSDAY 14 JUNE AT 12PM This Month’s toy auction showcases vintage and contemporary English and European diecast models spanning from the 1950s through to 2000. Highlights include lot 52, two BMC/400 ice cream vans (Estimate $140-$240), lot 60, two Tekno Ford Taunus Transit Vans (Estimate $200-$300), and lot 49, three Somerville models including Standard Flying 12 no.106; Anglia tourer no.117; and Sunbeam Talbot 90 MK2 (Estimate $400-$500).

Information nights for new clients or for those simply interested in the auction world. This is a simple and informal overview of the auction world.

Date:

First Wednesday of every month

Venue: Leonard Joel, 333 Malvern Road, South Yarra, Victoria, 3141 Time: TWO TEKNO VW VANS INCLUDING 405-26 VW 'GILLETTE' AND 405-46 VW 'TEKNO' Sold $480 (IBP)

Bookings: Monique Le Grand

Enquiries GIles Moon (03) 8825 535 / giles.moon@leonardjoel.com.au

Leonard

6.30 - 7.30 pm

(03) 8825 5620 monique.legrand@leonardjoel.com.au

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JUNE

CHOPPER

JUNE Art

98 ANTHONY LISTER (BORN 1980) A Life of Laughing Enemies & Crying FriendsPortrait of Mark ‘CHOPPER’ Read 2006 mixed media on canvas 250 x 170cm $7,000 - 9,000

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Leonard

JUNE Art

28 JOHN BRACK (1920-1999), Reclining Nude on Couch 1965, pencil on paper, 55 x 75cm $25,000 - 30,000

June Art Sale 70 JAMES GLEESON (1915-2008 The Equation, oil on canvas, 133 x 178cm $35,000 - 45,000

Auction Sunday 24 June 2012, 2pm

Leonard

88 DAVID BOYD (1924-2011) Kneeling Figure with Cockatoo 1970, oil on board, 49.5 x 62cm $20,000 - 30,000

Preview Wednesday 20 June 2012 9am – 8pm Thursday 21 June 2012 10am – 4pm

Friday 22 June 2012 10am – 4pm Saturday 23 June 2012 10am – 5pm

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Enquiries Briar Williams (03) 8825 5608 / 0413 912 307 briar.williams@leoonardjoel.com.au

JUNE

JUNE Art

HUGH RAMSAY The Fine Art Auction Sunday 24 June 2012 Lot 53 HUGH RAMSAY (1877-1906) Head of a Young Girl Looking Down, Melbourne late 1890s oil on canvas 54 x 45cm $15,000 - 20,000 Lot 54 HUGH RAMSAY (1877-1906) A Mulatto Artist, Paris 1901-02 oil on canvas signed 'RAMSAY' lower right 45 x 35cm $10,000 - 15,000 Hugh Ramsay’s death at the age of 28 in London, where he identified with the robbed Australia of one of her most fashionable Edwardian portraitist, John gifted artists. Despite the brevity of his Singer Sargent. At this crucial point in life, he was prolific and mature beyond his career Ramsay was diagnosed with his years. As a student at the Melbourne tuberculosis, a result of overwork and Gallery School (1894-99) his precocious neglect of diet in Paris. He immediately talent won him many prizes prompting returned to Melbourne leaving Melba’s

53

his teacher Bernard Hall to describe him portrait unfinished. as his “most gifted student” during 41 Back home, he defied doctors’ warnings. years as Director and Head of the Paint- Continuing to paint, he produced some ing School.

his largest and best canvases from his

Hall promoted the tonal realism of sickbed, including his Sargent-inspired Velasquez and his nineteenth century masterpiece, The Sisters, 1904. He died followers, notably Whistler.

Studying two years later aged twenty-eight.

these examples Ramsay gained a sound This sensitive portrayal (in lot 53) of understanding of composition and of a young girl looking down is typical of subtle tonalities, particularly in render- the artist’s Melbourne student period. ing flesh in his nude studies. Although Painted against a neutral olive backcompetent in other areas, his student ground, the careful finish and attention training equipped him to specialize in to texture, notably in the hair and fur portraiture and figure painting.

collar shows deference to Whistler’s

Like his contemporaries he was ambi- soft tonalism. (See Jessie with doll, 1897, tious to study abroad. He arrived in NGV 1) Paris in 1901 and trained at the Cola- By contrast, the contre-jour head of the rossi Academy with George Lambert. man (lot 54), broadly painted in warm Working from dawn till late at night and creams and browns with a touch of red studying the Old Masters in the Louvre, against a pale ground, gives a jaunty masRamsay’s work matured and he became culine dynamism to this character from a mentor to fellow Australians, notably the Paris Left Bank. (See A Mountain Lambert and Ambrose Patterson.

Shepherd, 1901/02, NGA2)

In April 1902 the New Salon accepted four of his paintings and “hung them on Patricia Fullerton the line”--an exceptional honour for one so young, particularly a 24 year old Australian exhibiting for the first time.

1 Fullerton, Patricia, Hugh Ramsay: His Life and Work, cat. 51, p. 196 2 Ibid, cat.123

Salon success led to commissions. Nellie Melba invited him to paint her portrait

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Leonard

JUNE Art

279 HENRI TANOUX (FRENCH, 1865-1923) Harem Beauties oil on canvas 71 x 58.5cm $8,000 - 10,000

282 AUGUSTE EMILE PINCHART (FRENCH, 1842-1920) The New Addition oil on canvas 78 x 63.5cm $12,000 - 18,000

INTERNATIONAL ART Leonard

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JUNE

JUNE Art

62 PETER BOOTH (BORN 1940), Drawing (Man and Trees) 2007, pastel, casein and watercolour on paper, 13 x 27.5cm, $3,000 - 5,000

CONTEMPORARY ART

130 DAMIEN HIRST (BORN 1965) I Once Was What You Are, You Will Be What I Am (Skull 2) 2007 hand-inked photogravure on arches paper 28/48 93 x 85cm $5,000 - 8,000

80 PETER WALSH (1958-2008) Hybrid Landscape 2 2004 oil on linen 127 x 183cm $1,500 - 2,500

Now Consigning for The SEPTEMBER Sunday Fine Art Auction

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Leonard

JUNE Art

NORMAN LINDSAY

AUSTRALIA's PRE-EMINENT PRINT MAKER

201 NORMAN LINDSAY (1879-1969) The Funeral March of Don Juan 1924 etching 17/55 23.5 x 30cm $3,000 - 5,000

203

202 NORMAN LINDSAY (1879-1969) Summer Day Andante 1925 etching 14/55 33.5 x 37.5cm $3,500 - 4,500

202

203 NORMAN LINDSAY (1879-1969) Death in the Garden 1923 etching, engraving and stipple 43/55 32 x 26.5cm $3,000 - 5,000 204 NORMAN LINDSAY (1879-1969) Toilet 1920 soft ground etching, engraving and stipple 28/50 16 x 13.5cm $1,500 - 2,000

204

205 NORMAN LINDSAY (1879-1969) The Death of Pierrot 1919 etching 18/40 26 x 28.5cm $3,000 - 5,000

205

206 NORMAN LINDSAY (1879-1969) Light Lyrics 1926 etching 9/45 30 x 25cm $2,500 - 3,500

206

Leonard

201

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JUNE

The Andy Mac Collection

Street Art COMES of Age at Auction On Sunday May 6th at 12 noon more than 500 works of art, objects and furniture from Andy Mac’s personal collection went under the hammer.

This was the first time in Australian history a comprehensive and authentic survey of Australian and international street art has come up for auction in the country and the catalogue results will now form the cornerstone for street art pricing in Australia.

Expectations were high when the iconic installation from The Big Day Out 2004 concert, titled Freeze Muthastika, came up for auction. The two coveted multi-panel works carried ambitious but logical estimates of $40,000 - $60,000 each. Each set comprised no less than 26 panels and represented a who’s who of Australian street art over the last decade. Tentative bidding ensued and both lots 200 and 200A were finally transacted after the auction for $68,320 inclusive of buyer’s premium. The price represented an Australian record for local street art and will be remembered as the moment street art came of age at auction.

Briar Williams, Head of Art, commented: “Creating a new market is never easy but it is probably the most satisfying because it involves extending not just the scope of the economy for art transacting but also the discourse around it. We did this for the photographer Wolfgang Sievers not so long ago and I’m thrilled that Leonard Joel will now also be remembered as the local auction house that got the auction market going for this exciting new category.

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Leonard

The Andy Mac Collection

Set of 26 collaborative panels ‘Freeze Muthastika’ 2004 acrylic and enamel on coreflute panels 184 x 122cm (largest approx) 2.7 high x 15.8m wide total

Set of 23 collaborative panels ‘Freeze Muthastika’ 2004 acrylic and enamel on coreflute panels 184 x 122cm (largest approx) 2.7 high x 15.8m wide total

Leonard

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JUNE

The Graham geddes collection

The Graham Geddes Collection OF IMPORTANT ANTIQUES & OBJECTS

AN IMPORTANT NORTHERN WEI PERIOD GREY STONE FIGURE OF THE PREACHING BUDDHA 386 -535 A.D $110,000 - $120,000

The Graham Geddes Collection of Important Antique Furniture & Objects Auction Saturday 15, Sunday 16 to Monday evening 17 September 2012

JUNE

Preview Saturday 8 September 2012 10am – 5pm Sunday 9 September 2012 10am – 5pm Monday 10 September 2012 10am – 5pm Tuesday 11 September 2012 10am – 5pm

Wednesday 12 September 2012 10am – 8pm Thursday 13 September 2012 10am – 8pm Friday 14 September 2012 (by appointment only)

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Enquiries Guy Cairnduff Head of The Specialist Collector (03) 8825 5611 / 0407 828 137 guy.cairnduff@leonardjoel.com.au

Leonard

Classic Furniture, Objects & Design

Classic Furniture Objects & Design BY guy Cairnduff

Decorated in the Arts and Crafts style, with a newel posts and panels for the staircase of beaten and embossed brass Roman numeral Glenormiston.

Heavily carved with both

dial, engraved pewter hands and a weight European and Australian floral and faudriven eight day quarter striking movement nal motifs, these works are today considon two bells, hour striking on one bell, the ered to be icons of Prenzel’s oeuvre. The hood boldly carved with gryphons to each long case clock is heavily influenced by corner within foliate surrounds extending both the Arts and Crafts movement of to either side on a stippled ground, centred the late 19th/early 20th century, combined by the relief carved motto ‘Time / and Tide with Gothic Renaissance motifs which are / Wait for / No / Man,’ above a frieze carved most often found in Prenzel’s works dating with five individual moon caricatures, the from the late 19th century up to 1910. The casement door inset with a panel depicting maker’s stamp on the clock lists Prenzel’s a gryphon in elongated form, applied with a address at that time as City Road, South beaten metal escutcheon and strapwork, the Melbourne, a site which he occupied from lower section with a carved panel depict- 1904 to 1909, which helps to substantiate the ing a gothic mask head, stamped ‘ROBT dating of the clock’s manufacture to circa PRENZEL / CITY ROAD / SOUTH MEL- 1910.

BOURNE / EUROPEAN LABOUR ONLY’ The clock has been in the Roberts family to the interior and to the top of the hood, since its purchase circa 1942, initially passraised on a plinth base 240cm high.

ing to the vendor’s youngest brother by

Provenance: by repute, the Black family, inheritance, then to the vendor following Glenormiston homestead, Western District, his brother’s passing. The clock’s movement Victoria

was extensively serviced over a three month

Circa 1942 to present - by descent, the Rob- period in 1992, with worn and missing parts erts family, Victoria

repaired and replaced, but the case is largely

History: According to Roberts family his- untouched, the only blemish being a burn tory, the long case clock presented here mark to the back lower left hand edge. with a case carved by the renowned Mel-

The work of Melbourne clockmakers

bourne wood carver, Robert Prenzel, was Johann (Fritz) Frederick Wilhelm Ziegeler purchased by the current owner’s father, Mr (1855-1936) and his son Johann Frederick Harold Roberts, from the sale of furniture Wilhelm Jnr. forms an integral part of many from Glenormiston homestead in Victoria’s of the iconic public buildings constructed in Western District circa 1942. At the time, Australia in the late 19th century until 1928. the Roberts family were living in the previ- Specialising in the manufacture of tower ous caretaker’s residence on the Glenormis- clocks, they were responsible for the makton estate and Mr Roberts was working as ing clock movements for buildings includmanager of Trufood Australia, a company ing Flinders Street Station and Royal Arcade in which the Black family of Glenormiston in Melbourne, as well as numerous post held an interest.

office buildings throughout Australia. The

Steuart and Isabella Black were among movement for the clock presented here was Prenzel’s greatest patrons. From 1905 to manufactured in Melbourne by the Ziegeler 1910 they commissioned Prenzel to design firm, although it is uncertain as to whether and construct numerous pieces of fur- it was made by father or son.

113 ROBERT PRENZEL (1866-1941) $20,000 - 30,000

niture and architectural ornamentation, Reference: Hose, Ken and Judy, Ziegeler: including a comprehensive bedroom suite, Melbourne’s Clockmaker, Melbourne 2008.

Classic Furniture, Objects & Design Auction Sunday 3 June 2012 at 12pm

Leonard

Enquiries Guy Cairnduff Head of Classic Furniture, Objects & Design (03) 8825 5611 / 0407 828 137 guy.cairnduff@leonardjoel.com.au

Preview Wednesday 30 May 2012 9am – 8pm Thursday 31 May 2012 10am – 4pm Friday 1 June 2012 10am – 4pm Saturday 2 June 2012 10am – 5pm

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JUNE

THE WEEKLY

The WEEKLY Every week Leonard Joel provides a distinct auction for the rapid dispersal of mid-value items.

In a recent weekly auction our Objects & Collectables department sold this rather rare Meiji period Japanese bronze monkey on wooden base for $7,200 (IBP), more than tripling its low estimate.

JAPANESE MEIJI BRONZE MONKEY SEATED ON A CARVED WOODEN TREE TRUNK, SIGNED TO BASE Sold for $7,200 IBP

The Weekly Auction – Viewing Wednesdays 9am to 8pm / Auction Thurdays 10am / View online at leonardjoel.com.au

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Leonard

upcoming auctions

Modern Design

The Granny’s Market Auction

now consigning for AUGUST 2012

AUCTION sunday 15 JULY 2012

Enquiries Eoghan Doherty (03) 8825 5632 / eoghan.doherty@leonardjoel.com.au

HIROE SWEN (BORN 1934) SHINTO, CIRCA 1974 Sold for $2,400 (IBP)

Consigning Now Fine Jewellery Including important signed jewellery, collectable wristwatches, Australian jewellery and pre-owned luxury Entries invited for September sale

Fine Art & Sculpture Including important international art Entries invited for September sale

A largely unreserved dispersal of the stock in trade of an iconic Melbourne antique dealership

Classic Furniture and Objects Including modern design and single-owner collections Entries invited for November sale

Viewing on-site at 1098 High Street, Armadale Auction at Leonard Joel 333 Malvern Road, South Yarra

Collectables

Enquiries Guy Cairnduff (03) 8825 5620 / monique.legrand@leonardjoel.com.au

Leonard

Including toys, sporting memorabilia and militaria Entries invited for September sale

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JUNE

Jewellery

223 A BLACK AND WHITE DIAMOND BROOCH/PENDANT $800 - 1,200

217 A BLACK AND WHITE DIAMOND DRESS RING $1,800 - 2,200

224 A PAIR OF BLACK AND WHITE DIAMOND EARRINGS $4,000 - 5,000 215 A BLACK AND WHITE DIAMOND RING $2,600 - 3,600

Black & White diamonds

218 A BLACK AND WHITE DIAMOND PENDANT $2,400 - 2,800

BY John D'AGATA Conflicting

myths

concerning

black Noir diamond is believed to be the world's jewellers used the stones mainly with white of dressing. The cult television show “Sex

diamonds appear in different cultures. In largest cut black diamond at 88 carats and diamonds to take advantage of the beautiful and the City” did much to popularize this India, black diamonds were considered to legend has it that when touched it endows contrast between the two. This was a take on trend when Mr. Big gives the heroine Carry bring bad luck by the upper classes and were the person with good luck, fortune and the art deco pallet. Because of their durability Bradshaw a black engagement ring. This only worn for adornment by the poor. In Italy happiness.

diamonds are very practical; suiting our forever cemented the black diamond as part

touching the stone could save the marriage Although black diamonds have always been busy and active lives. Black diamonds, like of the essential jewellery repertoire. of quarrelling couple as their troubles would used in jewellery, the later part of the 20th white diamonds have an adamantine luster leave them and enter the stone. The Karloff century saw a shift in their use as fashion and go hand in hand with our modern way

Fine Jewellery Auction Sunday 17 June 2012, 12pm

JUNE

Preview Wednesday 13 June 2012 9am – 8pm Thursday 14 June 2012 10am – 4pm

Friday 15 June 2012 10am – 4pm Saturday 16 June 2012 10am – 5pm

18

Enquiries John D'Agata (03) 8825 5605 / john.dagata@leonardjoel

Leonard

jewellery

172 A PAIR OF CUFFLINKS BY BVLGARI $400 - 600

for the gentlemen

310 A BVLGARI DIAGGIO SPORT WRISTWATCH $1,500 - 2,000

321 A WHITE GOLD ROLEX OYSTER PERPETUAL DAY-DATE WRISTWATCH $14,000 - 18,000 311 A BVLGARI GOLD SCUBA DIVER WRISTWATCH $6,000 - 8,000

315 A JAEGER LE COULTRE MEMOVOX MASTER COMPRESSOR WRISTWATCH $12,000 - 15,000

When one thinks of jewellery men rarely The wristwatch is now considered the come into the picture, unless they are the ultimate male accessory. purchaser of course. Although men are In a similar vein, cufflinks had been limited in the jewellery attire that they can discarded as “Old Hat” as men conformed wear tastefully, nothing is more suitable to less formal attire. Now there are a to complete a look than a fashionable myriad of choices on the market from wristwatch and a smart pair of cufflinks. older styles such as Essex crystal to With the advent of the quartz movement modern novelties of animals, aircraft, in the early 1970’s the use of a wristwatch dice and the list goes on. All designer

347 A PAIR OF CUFFLINKS AND TIE BAR BY GEORG JENSEN $400 - 600

as a fashion accessory almost died. The brands produce a range of cufflinks each advent however opened up a new market season to compliment their range. The for savvy collectors who appreciated late 1980’s and early 1990’s saw a shift in the look and mechanisms of the vintage men’s business attire. More formal suits wristwatches. Watch makers noticing the and accessories were being worn as well as trend began releasing new models of old a wide variety of French cuff shirts. What classics, as well as contemporary styles better way to complete the outfit than a with mechanical movements again. In a pair of cufflinks? Even today as fashion world of attachment to mobile phones, it trends lean back to informality, cufflinks is interesting that in the business world are still worn to dress up even the most wristwatches have become de rigueur. casual of male attire.

Leonard

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Collectables

AUSTRALIAN RULES As we approach the middle of the AFL season Giles Moon, Head of Sporting Memorabilia, showcases some of the more interesting and memorable football items that have found their way to Leonard Joel for auction.

Carte de Viste Australian Rules Footballer Sold for $1,320 IBP

1895 VFA Premiership Football Presented To Fitzroy Captain Tom Banks Sold for $12,000 IBP

Gold Medallion Presented to Fitzroy Football Player Len Wigraft, 1923 Sold for $1,200 IBP

JUNE

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Leonard

Collectables

Part Set 1920 Schuh (Magpie) Footballer Cigarette Cards Sold for $240 IBP

Two Uncut Sheets For A Set Of Allen’s Australian Footballers 1934 Sold for $720 IBP

L.J. Gerry Gee Essendon Football Club Barracker Ventriloquist Doll, Circa 1950s Sold for $1,140 IBP

Collection of Sixteen Glass Plate Negatives for 1922 & 1923 Don Photo Series Football Postcards Sold for $1,440 IBP

Leonard

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JUNE

TRIBAL Art

10 QUESTIONS WITH A SPECIALIST Recently at a Leonard Joel auction Sophie Ullin, our Aboriginal & Tribal Art specialist, managed the sale of five tribal items with a combined estimate of $10,500 for $63,000 (IBP).

In this interview Sophie discusses the fine art of the estimate, how to price unique tribal artefacts and why tribal art is so collectable.

1. After the auction of these five items, a context and weight of the once complete you recommend that they look? collector commented that we achieved Rockefeller collection. A different kind, but Leonard Joel of course!

Casting the net

international quality prices. What does no less relevant, imprimatur is invoked by wider, I would recommend specialist dealers this say about the market in Australia for a single, identifiable provenance - the PNG and other auction rooms offering tribal such objects?

pigment bowls and dance ornament in our art. Educating oneself through museums,

That the desire for quality, rarity and objects March sale carried the provenance of Capt discussions with tribal specialists, attending of cultural significance is universal.

The Edgar Johnston and were important not due auctions and exhibitions and exposure to

digital age has eradicated geographical to notions of fame, but his presence in the relevant literature is always an advisable borders for collecting and the tribal market is region on the cusp of foreign involvement, strategy. truly international.

underscored by his key task of surveying 8. Does tribal art experience the same sort

2. With such conservative estimates, the country for landing strips. This project of nation-centric collecting that say art the obvious question is “if you’d priced facilitated the opening up of PNG to the does? For example, Australian art tends the items collectively at, say $40,000 - wider world and inevitably led to significant to be solely collected by Australians. $60,000, would they have sold?

cultural changes, whereby objects such as No, tribal collectors have a very international

There was not much precedent for these carved pigment bowls of such quality ceased outlook. They cross all borders in the search objects,

particularly

the

Aboriginal to be made.

for special artefacts. Some of the most ardent

pieces. So I set the low estimate close to 5. How did most non-Australian artefacts collectors of Aboriginal artefacts come from the highest auction price achieved for a find their way to our shores?

Belgium, France, Germany, the Netherlands

transitional object, which acknowledged Variously . Using PNG as an example of trade and the United States. their exceptional quality and simultaneously between Papua New Guinean and Aboriginal 9. When did people begin collecting tribal would harness the auction mechanisms and peoples;

from

the

1960s

"Missionary" artefacts and art?

potential of encouraging competitive bidding galleries in major cities that sourced artefacts Throughout the millenium - it is an age-old to allow the objects to find their current directly from the field and within the local compulsion! Whenever a race or country market.

community they were serving; commercial explored new territories or invaded foreign

3. What is different about valuing tribal galleries and dealers exporting to Australia lands their artefacts and art were pillaged works of art for auction?

and ex-pats and Australian citizens bringing and acquired - just think back to the Romans.

While aesthetics play a role in both fine art the objects with them following time living 10. And separately, when did it begin to be and tribal art, the identity of the creator is or travelling abroad. usually unknown for artefacts. Therefore

traded as a collecting category?

6. What indigenous artefacts cannot be As a collecting category of note, it began

period and date become major determinants traded and why?

around the mid 19th century as explorers

of value along with anthropological aspects, Objects that are encoded with very sacred and missionaries infiltrated and mapped as well as the cultural context /significance and secret information. and ceremonial purposes of an object.

For example Australia's interior. Likewise, at the same

Aboriginal stone and wooden tjuringas time, but beyond our shores, it gained

4 How significant is provenance and the are highly culturally sensitive objects that popularity as Europeans and Americans history of a piece when it comes to tribal should not be handled by unititiated males embarked on the "Grand Tour". Tribal art artefacts?

and furthermore should not be viewed by collecting grew in tandem with the pursuit of

The pedigree of an artefact cetainly has a clear women. They carry sacred songs, stories and leisure, travel and exploration...essentially as ability to elevate it above its unprovenanced ceremonies and the spirit of the ancestors our curiousity and exposure to other cultures counterparts, thereby increasing its collectab (who are thought to have made the tjuringas) manifested itself. ality

and value exponentially /accordingly and are considered to possess powerful

. An object once belonging to a prominent magical properties. collector, say Norman Rockefeller, by default 7. If one were looking to collect tribal maintains a strong link to and embodies the artefacts at this point in time where would

JUNE

22

FINELY DETAILED KWOMA YINA FIGURE with strong red pigment, mid 20th century.

Washkuk Hills, Papua New Guinea.

Yam ceremony. 123cm (height) Sold for $1,680 (IBP)

Leonard

Modern Design

DISCERNING EYES FOCUS ON SERIOUS DESIGN

E. VEROT & R. CLEMENT A DRINKS CABINET/SIDEBOARD FROM AN OCEAN LINER France, c.1930s Sold for $8,400 IBP

On Sunday May 20th 2012 Leonard Joel private collectors who were very specific such iconic designers as Verot & Clement, as the auction house for the transaction of dispersed more than 250 items from a about what they wanted. Exceptionally rare Rosando Bros, Piero Fornasetti and Charles post-war art and design. For a complete sales single-owner

collection

of

Australian and well designed pieces were bid for eagerly and Ray Eames. One of the more unusually results listing visit our “Results” section

and International Design. The collection and one of the highlights of these bidding interpreted items was lot 93, a drinks cabinet under the “Auction” tab at www.leonardjoel. traversed all manner of objects and utility frenzies was the sale of lot 129, Angelo from an ocean liner complete with back com.au. We are now inviting consignments from interesting chairs, desks and cabinetry Lelli’s Triennale Three Arm Floor Lamp, lit circular windows (illustrated), which for our next Modern Design auction in to items as playful as decorated plastic trays that almost doubled its low end estimate realised $8,400 (IBP). The sale achieved August 2012. from airline flights from the 1970s. The to sell for $9,600 (IBP). Amongst the top a very pleasing sale rate of 76% by lot and packed room was filled with an audience of lots transacted at the auction were items by further cemented Leonard Joel’s position

Leonard

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JUNE

VALUATION SERVICES

VALUATIONS & ADVICE Types of Valuations Insurance Valuations

Market Valuations

Superannuation

Make an Appointment

While the storage and display of your col- Generally speaking, clients considering sell- Investments & Collection

Leonard Joel can provide specialist expertise

lection can protect against obvious domestic ing items at auction require a market valua- Management

across all categories with valuers approved by

damage, it is not enough to guard against a tion. A market valuation reflects the value of At Leonard Joel we recognise that some cli- the Australian Government. Scheduled onloss caused in more dramatic circumstances. an item in the current auction market and is ents needs extend beyond simply requiring a site valuations for insurance, market, family To ensure your collection is fully protected the best indicator of the likely selling price valuation for selling or insurance purposes. division and other purposes can be arranged both a valuation and relevant insurance cov- for that item - market valuations are also As the regulatory environment for art and or for simple verbal market valuations you erage is essential. Leonard Joel can assist used for estate, tax, and family division pur- related investing becomes more complex so may prefer to visit us by appointment at our you with expert, thoroughly researched and poses and reflect prices paid for equivalent to does the advice required. Leonard Joel salerooms on Mondays and Fridays. If you documented valuations for insurance pur- items at auction.

provides a uniquely tailored advisory service are considering selling, verbal valuations are

poses so that in the unfortunate event of loss,

for those clients with superannuation issues provided on a complimentary basis.

your collection is fully covered at current

or collections that they require advice on.

replacement values. Leonard Joel insurance

Michael Fox, specialist consultant to Leon- Written Valuations

valuations are fully documented to provide

ard Joel, is recognised as an expert in this Fees for formal written valuations are based

both the insurer and insured with a record of

field and is now available for consultations. on hourly rates for specialists and travel

assets at current retail values.

This specialised advisory service is ideal for:

where applicable.

• Individuals with art-related superannuation investments

For an appointment please contact

• Financial planners

Monique LeGrand on 03 8825 5620 or email

• Private Wealth Management Advisers

monique.legrand@leonardjoel.com.au

• Financial Services Professionals • Accountants • Lawyers

AT AUCTION – Now Four Ways to Bid At Leonard Joel, there are four methods of bidding: in person, via absentee bid, via our complimentary telephone bidding service (excluding weekly auctions) and now via the popular online live-bidding platform Artfact.

Before you Bid

Bidding in Person

Absentee Bidding / To participate in bidding activity at one of Once you have successfully completed your Telephone Bidding

Live Bidding Online Leonard Joel is delighted to have partnered

our auctions, you will be required to establish registration you will be issued with a buyer’s If you are unable to attend the auction in with Artfact, the world’s largest live online a valid client account via either our absentee number card. To place a bid, simply hold up person, we will be happy to execute writ- bidding platform with more than 1,300,000 bidding form or in person when you attend your bidding paddle so that the auctioneer ten absentee or telephone bids on your members. Establishing an account is simple our auction. Registration information can can clearly see it. Decide on the maximum behalf. This service is free, completely con- and for a modest fee you can bid at all Leonbe obtained online or by simply calling our amount that you wish to pay, exclusive of fidential and your bid will be executed as ard Joel special catalogue auctions from the Front of House on +61 (0)3 9826 4333.

buyer’s premium and GST, and continue bid- cheaply as possible. Leonard Joel publishes comfort of your home or office. ding until your bid prevails or you reach your an absentee/telephone bidding form at the limit. If you are the successful bidder on a lot, back of each catalogue and you may also the auctioneer will acknowledge your paddle download or complete an online form at number and bid amount.

JUNE

www.leonardjoel.com.au.

24

Leonard

Art Business

ART Business

What have the Romans ever done for us?

Monty Python’s Life of Brian, 1979

By Michael Fox

Increases in public expenditure on the arts of denly all Australian artists had to prove that or less and sold for a profit do not attract cap- industry. I was told by certain galleries that more than $60 million have been included in their artistic practices were legitimately ital gains tax. This may have been fine in 1986 the artwork investment allowance had enathis year’s Federal Budget.

geared towards making a profit regardless but if the consumer price index was applied bled them to continue trading. Without this

When figures like this are reported, requests of merit. Under the pre-GST regime artists to this threshold the exemption should really incentive some of these galleries would have for even greater assistance can take on a dis- could obtain an exemption from paying sales be closer to $1,500 in today’s money.

closed their doors.

tinctly People’s Front of Judea look - what tax on their materials by providing their sales It would seem the reasoning behind the CGT But the official reaction was quite different. has the government ever done for the arts? tax certificate to their suppliers without this exemption for artworks was an attempt by The ATO officer who had issued the ruling But the need for government policy to stimu- onus of proof.

the Government to encourage (or at the very contacted me on several occasions express-

late the creative economy is real. What is Like other later financial reforms (the super least not to discourage) purchases of art- ing alarm at the reporting of the artwork not being reported is whether such policy art laws being the most notorious) the arts works – mostly by emerging artists or at the investment allowance in the newspapers. It should be directed at more public funding of sector was not given special consideration. lower end of the secondary market historic seems the ATO had not given much thought museums and other cultural institutions – or As a former gallery owner what I have dis- undervalued paintings - by rewarding inves- as to how important a simple tax law interwhether taxation policy could be used to pro- cerned from the GST changes has been a tors with a tax-free profit. Imagine the stimu- pretation would be on the arts sector. vide a private sector stimulus for the arts.

gradual dulling of the visual arts scene since latory effects an increase of the CGT exemp- This might explain why the recent Budget

One day before the release of the Fed- it was introduced. This may be coinciden- tion from $500 to $1,500 would have on the measure to allow businesses to immedieral Budget the Department of the Arts tal but it may also be unsurprising. For art- art market in Australia? Yet this very simple ately write off assets up to the value of announced

that

the

long-awaited-for ists to complete BAS statements four times a idea is nowhere to be found within the for- $6,500 excludes artworks. In the fine print

National Cultural Policy (NCP) was to be year to claim back their GST inputs requires mulation of the NCP – despite a recent albeit of this legislation is a clause for assets with delayed – again.

a rigour of administrative discipline which inadvertent taxation policy that did assist the an expected life of 25 years or more. These

Since it was first announced by former Min- is the polar opposite to free thought and arts. ister for the Arts Peter Garrett in October experimentation.

assets are not written off immediately, rather

In early 2009 the Federal Government intro- they can be written off at a rate of 5% per

2009, waiting for the delivery of the NCP has Non-commercial loss provisions for busi- duced an investment allowance for busi- year. These assets are artworks. taken on all the characteristics of a Samuel nesses were also introduced as part of the nesses that purchased equipment for use Beckett play. The current Minister Simon GST reforms in 2000. Artists who earn more inside their business. There were two main Crean says it will be released ‘later this year’. than $40,000 per year from their non-busi- criteria to qualify for the investment allowIn announcing the delay, Mr Crean fore- ness activities (wages, interest and dividend ance: (1) the equipment had to be capable of shadowed "cultural measures in the 2012-13 income etc) are not allowed to claim losses being depreciated; and (2) it had to cost at budget” and indicated they would have a on their arts practice - other than in very least $1,000. “…relationship with the finalisation of the restricted circumstances. The reality for Recognising that artworks were listed on the national cultural policy".

most artists is that they will incur losses early official Australian Taxation Office deprecia-

With the current malaise of Federal politics in their careers but the threshold figure of tion table (although at the lowest rate possicontinuing without end it is timely to con- $40,000 has not changed in 12 years. In order ble of 1% per year over 100 years) I applied sider whether the NCP will be effective in its to claim the losses on their arts practice art- for a ruling from the ATO as to whether aims - particularly as the brief to develop the ists must either live in penury or rely on gov- businesses could receive the investment policy seems to view the role of taxation in ernment grants to survive. relation to the visual arts as irrelevant.

Michael Fox is a qualified accountant and

allowance by buying artworks worth at least professional fine art valuer who successfully The Australian taxation system seems full $1,000. In July 2009, when I received the ran the Save Super Art campaign to prevent

In fact taxation issues weigh heavily upon the of arbitrary thresholds when it comes to the ATO’s advice agreeing with my request, news the prohibition of artworks from self-managed arts in all sorts of areas that are not widely arts – and these thresholds never seem to of the ruling quickly spread throughout the superannuation funds (SMSFs). He is a member known or easily understood.

change with the passage of time.

arts industry.

For example, one real effect of the introduc- Art collectors have had to cope with the same What came to be known as the artwork

of the Leonard Joel Valuation Panel and is

engaged exclusively by Leonard Joel to provide advice to their clients in relation to artwork

tion of the GST in July 2000 was to trans- capital gains tax exemption level for 25 years. investment allowance in 2009 and 2010 investment in SMSFs. He may be contacted at form all artists into small businesses. Sud- In most instances artworks acquired for $500 had an extremely positive effect on the arts michael.fox@superartbusiness.com.au.

Leonard

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JUNE

Look out for The JULY issue.

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