Auction sales of Australian art for2005 totals $72.0 million to date, compared with a yearly total of $86.3 million for 2004. Sotheby's leads the auction house sales with 27.9 million with $13.3 million resulting from their sale of the Foster's Collection. (source: www.aasd.com.au)
The highest price achieved at auction to date this year was $1.853 million for Arthur Streeton's Sunlight Sweet, Coogee. The painting, part of Sotheby's Fosters Group Collection was the second highest sale price for a work sold in Australia.
Garry Shead's oil on canvas, The Threat, 1991 sold for 110,950 AUD (including buyers premium). The estimate for this work was 50 –60 AUD. According to Artprice.com, 100 USD invested in 1997 in a work by Garry Shead currently has an average value of 1630 USD (includes all mediums).
The Sotheby’s Aboriginal Art Sale set new records for sixteen artists.
The highest price was 411,750 AUD for Clifford Possum Tjapaltjarri’s Man’s Love Story, 1993-1994.
A photograph by Max Dupain (1911-1992) titled Sunbaker was sold at Sotheby's Melbourne auction on 19 September for 35,750 AUD (including buyers premium) . The silver gelatin print was estimated to bring 12,000-15,000 AUD.
A Criss Canning oil on canvas (61.0 x 61.0 cm) titled Blossom from the Valley achieved 22,800 AUD (incl. buyers premium) at the Deutscher Menzies auction on 21 September - a price well above the estimate of 8,000 AUD to 12,000 AUD.