Joyner Holds Record $5.6 Million Art Sale

Fine Art and Auction Review, December 1987 / January 1988

Lawren Harris
Lake Superior

Emily Carr
In a Circle

Arthur Lismer
Logging in Nova Scotia

Toronto (10BP) - Two years after conducting their first auction, Joyner Fine Art Inc. set the record for an auction of Canadian art during their November sale. The previous record of $4.2 million set in Montreal in October, 1986 was exceeded by almost $1.5 million with the total net (actual) sales plus buyer's premium (10%) reaching $5.6 million.

The two-day sale which featured works from the Porter Collection, as well as numerous other consignors from across Canada and the U.S., broke a multitude of auction records for individual artists including: Arthur Lismer's Logging in Nova Scotia, $385,000 (est. $80-120,000); Emily Carr’s In a Circle, $297,000 (est. $80-100,000); Jean-Paul Riopelle's Abstract Composition, $209,000 (est. $100-150,000: also a record for a work by a living Canadian artist); Alfred Pellan's L'Arbre Chateau, $99,000 (est. $30-40,000); and David Milne's Temagami, $85,800 (est. $50-60,000).

Small oil sketches by several artists also set record prices and included works by Tom Thomson at $209,000; Clarence Gagnon at $41,800; and A.J. Casson at $28,600.

In addition to the record-breaking price for the Lismer canvas, other highlights by Group of Seven artists included Lawren Harris' Lake Superior, which fetched $374,000 (est. $200-250,000); and Franklin Carmichael's large canvas of La Cloche Hills, which soared well over the auction estimate to be knocked down at $330,000 (est. $200-250,000).

Works from the nineteenth century also realized excellent prices, with an oil by Cornelius Krieghoff depicting an Indian Encampment at Big Rock selling for $103,400 (est. $75-100,000). A watercolour of Buffalo Grazing in the Snow by Frederick Verner sold for $17,600 (est. $10-12,000).

Commenting on the overall success of the auction, company President Geoffrey Joyner pointed out that over 93% of the lots offered were actually sold. "It is unusual in a sale of this nature to have less than 7% remain unsold. In fact, in the Porter section of the sale, only one lot failed to sell (i.e. did not reach the minimum price acceptable to the vendor)."

According to Joyner, the after-effects of “Black Monday” did not appear to affect the auction. The astounding success was a result of the quality of works offered, coupled with highly competitive bidding from a standing-room only crowd.