Australian Artwork Breaks Records at Lloyds

An extremely rare piece of fine art, a Jeffrey Smart painting has broken auction records, selling under the hammer at Lloyds Auctions for $210k late last week, setting a new benchmark for Australian artists.

Jeffrey Smart is an iconic Australian realist painter, and his work has been on show in museums around Australia and abroad with a current exhibition of his works right now being held in the National Gallery of Australia in Canberra until May.

The rare painting that went under the hammer was the ‘Second Study for Railway Bridge, 1996’ an original oil painting on canvas, which is in excellent condition and was exhibited in Philip Bacon Galleries, Brisbane.

“This is a very important and iconic piece of artwork, and we were honoured to be able to deliver it to its new custodians who we hope will display and enjoy the artwork for many years to come,” said Ms. Amanda Benson, Head of Fine Art & Antiquities for Lloyds Auctions.

The painting itself displays a range of techniques of colours and shapes and is signed by Jeffrey Smart in the lower left corner.

“It’s rare that these pieces surface for public auction so we probably won’t find another piece of art quite like this representing a period of Australian history,” said Ms. Benson.

“Artwork is something we are seeing our clients treat as a longer-term investment that they can actually enjoy and seeing prices continuing to strengthen gives them the ability to enjoy the asset whilst its appreciating in value,” said Ms. Benson.

The strong prices achieved for Australian art is bringing some incredible pieces forward to auction.

Scott Webber

Head Of Valuations

Accredited Senior Appraiser

Licensed Auctioneer

Qualifications & Affiliations

American Society of Appraisers (ASA)

Profile

Scott Webber is one of the founding partners at Lloyds and has worked for the company from its inception in 2004. In that time Scott has been a Licensed Auctioneer and Qualified ASA Valuer. Prior to Lloyds, Scott was a Farm Manager at Cubbie Station in Queensland, he has an earthmoving and agricultural background.

Scott is heavily involved in daily valuations. He acts for a wide range of clients and vendors including Insurance companies, Financiers, Insolvency Practitioners, Government branches, Joint Ventures and Alliances, large companies, and private individuals. Scott personally co-signs and oversees every valuation report completed by Lloyds. On average the Lloyds valuations department conducts over 500 appraisals per financial year.

Scott has managed many auctions and private sales, previously completing an approximate average of 400-800 traditional auction lots per week. Given that the Lloyds system is now online, traditional auctions are very minimal and are completed in a simulcast method, to comply with contracts we have with major government departments. Although Scott’s focus is currently Valuations, he still oversees and runs auctions weekly on a wide variety of assets from motor vehicles to very specialised process lines.

Scott offers a wealth of experience as an Auctioneer and Valuer in all aspects of Valuations and Asset Disposals.

Having headed disposal programs for Major Infrastructure Alliances, Joint Venture partnerships and Government projects throughout Australia, Scott has a wide range of experience in the Civil Construction, Earthmoving, Manufacturing and Agricultural sectors offering a “turn key” service from start to finish.

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