Fa ll 2 022 n e w sle t t er
Fa l l 2 0 2 2 a n d t h e y e a r I N RE V I E W We want to start by wishing you a very happy and healthy New Year, and all the very best for 2023. As we reflect on the last year, one thing that remains very clear is the importance of community. We are truly grateful to all of you—our colleagues, friends, consignors and collectors—for your ongoing patronage, friendship and support. Throughout 2022, the global auction market continued to break new barriers, as current conditions have propelled the industry to embrace and enhance digital tools and strategies at an unprecedented rate. Heffel is proud to have once again led Canada’s art market in sales, achieved record prices for renowned artists and placed major works of art in important collections globally. In the face of change, the market showed resilience and adaptability, and Heffel’s digital platforms continued to open up new possibilities for engagement and accessibility. Our fall auction was held on November 24 in Toronto. It was such a pleasure to see so many familiar faces, welcome bidders back into the ballroom and to marry the traditional live auction experience with the major technological advancements we have focused our efforts on growing over the course of the pandemic. Bringing together in-person bidding and our state-of-the-art Digital Saleroom, along with dynamic telephone bidding, created a lively and energetic environment, enjoyed by bidders around the world. The excitement from both participants and viewers reverberated beyond the walls of the ballroom, as records were shattered across all areas of the market, with total sales exceeding $23 million, including our online auction. Outstanding results were achieved for masterworks by Marcelle Ferron, Tom Thomson and Jean Paul Lemieux, to name just a few. Six incredible paintings by Lawren Harris captured the hearts of art-lovers and collectors, totalling a remarkable $7.3 million for just those works. The crown jewel of the auction, Andy Warhol’s highly coveted portrait of Queen Elizabeth II surpassed the million dollar mark, and broke the global auction record for a Warhol editioned print sold at auction. The royal blue screen print from the ultra-rare Royal Edition, dazzling with diamond dust, sold for $1,141,250. The passion and confidence of our bidders this season was evident to all, as participants enthusiastically called out bids well above asking prices.
We are honoured to have presented so many phenomenal works by Canadian and international giants, which will continue their journeys in wonderful new homes. It was truly a night to remember.
Online Auctions Since 1999, Heffel has been an innovator in the online auction space, and we have taken great pride in continuously enhancing our technology and capabilities to ensure that we are giving both buyers and sellers
ABOVE: A ndy Wa r h o l , Queen Elizabeth II of the United Kingdom, from Reigning Queens, Royal Edition (F.S.II.337A) screenprint on Lenox Museum board with diamond dust, 1985 39 3/8 × 31 1/2 inches Sold for a world record: $1,141,250
the best experience possible. With two decades of experience, our platform continues to grow, and emulates the live auction experience with thoughtful presentation, competitive bidding and international participation. Heffel’s proprietary and bilingual bidding platform, virtual gallery tours and post-sale transaction tools have propelled our sales to success.