Shannon’s Fine Art Auction Brings In $2.78 Million

Greenwich, Conn.

:"The good news is that we have the goods," stated Gene Shannon 24 hours prior to the drop of the hammer at Shannon's fine art auction on October 23. And while news of the drop in the European stock market that broke early the next morning certainly did not help boost the sales totals turned in later that evening, it did not break anything either. Auction house principal Shannon commented afterward that he was pleased overall with the sale's results, and despite the auction's gross coming in under estimates, an impressive $2.87 million was achieved for the 250-plus lots offered.

Two major New York estates had consigned collections to the auction, one from Westchester and the other from Upstate, the later featuring a substantial collection of European Modernist paintings.

American art held its own during the evening auction. In fact, in many cases it did extremely well, with numerous lots exceeding estimates. European Modernist art suffered, however, especially some of the big ticket items. Shannon reported the sale of numerous paintings that had been bought-in during the auction in the days that followed the auction. A sold rate of just over 70 percent was noted, although that figure includes 21paintings that were sold after the auction.

Several works by American artists captured the attention of the crowd, but none so much as the painting illustrated as the cover lot of the catalog, Jasper Cropsey's "Homestead on Greenwood Lake." Positioned directly in front of the entrance to the auction hall and dominating the display area, one could not help but notice the majestic work entering the auction preview.

"It has been wowing people," stated Shannon in regard to the large and luminous Cropsey that measured 18½ by 38½ inches and retained its original frame. Fresh to the marketplace, the painting had been consigned from a New Canaan, Conn., collection where it had resided for more than 75 years, until Shannon plucked the painting off of a second-generation family member's wall. Shannon commented that the consignor knew the painting "was worth money, but really had no idea. When I dropped a number on her, she decided to consign the painting to us," he said. "Everyone that sees it just goes ga-ga," commented Shannon.

Executed in 1886, the painting incorporates numerous styles gleaned over Cropsey's career, early-on from the likes of Thomas Cole and Asher Durand, and later from the influences acquired while painting in Italy that focused on the "glowing ambiance of atmospheric light," as John Wilmerding so aptly surmised in American Light .

Estimated at $300/500,000, Shannon commented prior to the auction that he really had no idea as to what to expect. "On a really good day, it could reach three-quarters of a million. No matter what it does, it is a great painting and it is going to be exciting," he said. Several in the gallery and numerous telephone bidders expressed interest in the painting, which hammered down between estimates at $396,000.

The painting will be included in the forthcoming catalogue raisonné that is being compiled by the Newington Cropsey Foundation, a nonprofit organization that preserves and displays the artwork of Cropsey, situated at the artist's Nineteenth Century home and studio, Ever Rest, in Hastings-on-Hudson, N.Y.

Another Cropsey, consigned from the Connecticut collection, also did well, although this example was much smaller, measuring 12 by 20 inches. Executed in 1890 and titled "An Autumn Morning," the landscape was marked on the back "Hastings upon Hudson." This painting also retained the original frame and is also to be included in the Newington Cropsey catalogue raisonné. Another splendid example, with a bit more color that the larger work, also sold between estimates, bringing $78,000.

A rare subject matter for Impressionist Collin Campbell Cooper was part of the reason behind a flurry of action from collectors and the trade. Well known for his views of Manhattan, Cooper spent some 20 years painting in Europe. Trained by Thomas Eakins, and studying at the Academie Julian in Paris with Bouguereau, Cooper's Parisian scenes are thought to be influenced by Camille Pissarro.

"Place de L'Opera, Paris," circa 1895, an intriguing street scene depicting the front of the Opera House, listed a provenance of Philadelphia's David David Galleries to a private collection in New York City. Estimated at $100/150,000, the painting sold for $120,000.

Other paintings by American artists of interest included a beach and seascape by Sanford Gifford titled "On The Coast of Long Island" that sold between estimates at $66,000, and Theodore Wendel's "Spring," a folky painting with an Impressionistic flair that was attracting interest throughout preview and realized $37,200.

"Gruppe, Sloan, Berthelsen," said Shannon, motioning about the preview area where paintings by these artists were handsomely displayed. "There is a good selection in this sale that is representative of the usual high quality works that they put out," he said. These proved, once again, to be the bread and butter of the auction, a regular staple in Shannon's offering.

Nine paintings by Johann Berthelsen were offered and nine were sold; of the four Emile Gruppe works offered, three sold; and two out of three of the Eric Sloan paintings were sold.

The Impressionistic scenes of Berthelsen, best known for his prolific production of blizzardous Manhattan scenes, did well, with "Time Square, New York," bringing $14,400, an unusual summer nocturne scene titled "Central Park" was hammered down at $10,800, and the American flag-laden buildings depicted in the snowy scene "The Beginning of Broadway" did $11,400.

Gruppe works included a nice late autumn scene, 25 by 30 inches, titled "Vermont Farm" that sold for $19,200, and a mountainous winter landscape with a small hamlet in the foreground titled "Village in Winter" realized $10,800.

Sloan works included the oil on Masonite "Chester County Spring House" that sold for $27,600, and "Stonewall, Connecticut," circa 1950, that sold above estimates at $11,400.

With but one exception, all of the European Modernist paintings failed to find a buyer at the auction. The anomaly among the grouping was Italian artist Massimo Campigli's Modernist oil "Due Donne." The painting depicted two females, with one putting a necklace on the other. It hammered down just below estimates at $90,000.

European Modernist works that did not meet reserves included a Karl Appel abstract estimated at $90/120,000 (sold after the auction for $75,000), Roberto Matta's "Les Vacheadors" ($100/150,000), Pierre Alechinsky's Modernist oil "Le Bleub des Fonds" ($150/250,000), and Jean Dubuffet's abstract "Memoria" ($200/300,000).

British Modernist Henry Moore's watercolor "Nine Figures" found a buyer at the auction, although it went out just below estimates. Signed and inscribed with notes in graphite around the image, seemingly notations or critiques made by and for the artist, such as "Think of purely structural ideas. Spatial compositions…," the work is perhaps a study for sculptures. Estimated at $40/60,000, the lot went out at $36,000.

Jean Dufy's oil on canvas "Les Champs — Elysees" was one of two paintings in the auction, with it selling at $48,000.

Three David Burliuk paintings were offered in the auction. "Villa W.R. Wagner" ($125/175,000), termed a "newly rediscovered masterpiece" by Shannon, failed to meet its reserve during the sale. Negotiated after the auction, it was sold at $95,000. A classic Burliuk, titled "Sunflowers on a Beach" ($40/60,000), sold after spirited bidding at $60,000, and a small waterfront portrait titled "Peasant Woman" realized $6,600.

"Post sale interest was quite active," stated Shannon after the sale, indicating that price-point was a factor for some clients. "Because they were all estate items, prices were able to be adjusted more than usual," he said. Shannon referred to many of the paintings that sold in the aftermath of the auction as "bargains," reasoning that "they are all important [works] by major artists." Aside from the Appel and the Burliuk, a classical Italian painting by Vittorio Reggianini titled "The Courtship," estimated at $60/80,000, sold after the auction for $55,000.

English and European paintings fared well, with a Maurice de Vlaminck oil on canvas, 15 by 18 inches, selling well above the $40/60,000 presale estimates. "Cottage in Flanders" was a gutsy Impressionistic-style painting with a cloud laden sky that realized $72,000.

A Nineteenth Century painting by Dutch artist Jan Hoynck Van Papendreicht depicting a militia on horseback titled "Rigjende Artillerie op de Heide" had been consigned from the Westchester estate; it carried a provenance of an Amsterdam collection and an exhibition in the Netherlands. A striking scene, the painting easily eclipsed the $20/30,000 estimates, realizing $48,000.

Other lots of interest included an oil on canvas titled "Hauling the Log" by Horatio Walker that depicted a pair of oxen and their driver dragging a log across a snow-covered field. Exhibited at the Boston Art Club in 1898 and illustrated in a book about the artist, the painting established a record price paid at auction when it sold above the $10/15,000 presale estimates at $28,800.

A Russian bronze by Evgeny Aleksandrovich Lansere, "The Warrior" ($8/12,000), attracted a great deal of interest. "The Russian stuff is still hot," said Shannon, "They're going to beat each other up over this one." The bronze with gold gilt, measuring 16 inches tall, signed and inscribed N. Shtange foundry, listed a provenance of a Long Island collection and sold after a brief bidding war for $32,400.

A group of four cityscapes executed in the 1930s by William Edwin Henning, a student of Grant Wood and Marvin Cone at the Stone City Art Colony between 1932 and 1933, received quite a bit of attention. Although not well known, Henning did some WPA work and was also influenced by Thomas Hart Benton. "Henning rendered compositions that attempted to remain true to the experience of Iowan life," noted Shannon in the catalog.

In a strong WPA style, "Sidewalk Comedy" ($15/25,000) depicted people engaged in a variety of activities on the street. An interesting and amusing scene, it was the top lot of the group, selling at $31,200. An interior scene depicting the interior of a drug store along with its soda fountain also handily exceeded the $12/18,000 estimates, selling at $28,000.

Prices include the 15 percent buyer's premium charged. For further information, 203-877-1711 or www.shannons.com .