| Joburg art auction nets R36m
An auction of decorative and fine arts raised a record-breaking R36-million in Johannesburg this week, the auctioneers said on Thursday. Stephan Weltz & Co's two-day sale of decorative and fine arts totalled R36343458 a record total for a sale held in Johannesburg," the company said in a statement. Seven paintings sold for more than R1-million each, including four works by Pierneef. Pierneef's Landscape with Thorn Tree sold for R2.86-million; Wild Pear for R1.76-million; Landscape with Trees and Clouds for R1.1-million and Forest Landscape for R1.045-million. Other artists whose work recorded high prices were Irma Stern and Maggie Laubser. "It is encouraging to note that the Stern market is still holding strong," the statement read.
'Wildlife sanctuary' up for auction
A PIECE of countryside described by local residents as a "wildlife sanctuary" has been put up for auction raising fears that it could be bulldozed by developers. The field off Stag Lane, Chorleywood, is being advertised as "land with potential" on the Driver Norris auction site, despite the fact that there is no planning permission for the 1.5-acre Green Belt site. Residents are so concerned by the implications of a sale that they are considering buying the land themselves and returning it to Three Rivers District Council to protect it. But with a minimum asking price of £90,000, it is unlikely they will be able to match competing bids when it goes to auction on Tuesday. Read more about this story in tomorrow's Watford Observer. .
British Airways Considers Joining
LONDON -- British Airways PLC Monday said it has contacted private-equity groups about joining a consortium to bid for Iberia Lineas Aereas de Espana SA, but hasn't decided what to do with its 10% stake in the Spanish airline. The U.K. carrier said it wouldn't provide further capital for any offer Iberia bid and the consortium would likely include one or more Spanish partners aside from the private equity company. BA said it is ruling out an independent bid for Iberia and continues to examine numerous options for its holding including full disposal. At the end of March, Iberia got ... .
EYE ON ART
MARCH, traditionally, is an exciting month for Asian Art in New York. In addition to the bi-annual Christies and Sothebys auctions of Chinese, Japanese, Korean and Indian Art, there is also the Asian Art Fair that attracts a wide variety of gallerists and dealers. For the Modern and Contemporary Indian Art market, the auctions are important as they allow collectors and dealers to gauge the international market (internal dealer and auction house dynamics not withstanding) since the last major sales six months prior. This season threw up some interesting observations. .
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