Category Archives: Ben Hanly News

Sir John Lavery and the image of tennis

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Ben Hanly
Modern & Contemporary Art Specialist

2022 is not a year that anyone except the most reclusive could possibly claim not to have heard of the Australian Tennis Open – the high profile legal wranglings between the Australian Government and Novak Djokovic over his entry visa, covid vaccinations and his deportation, have made the already famous sports tournament front page news worldwide. Founded in 1905, the Australian Open, or the ‘happy slam’ as it is affectionately known, is the first of the 4 grand slam tournaments worldwide, which takes place in Melbourne every year. Although it is not the highest paid tournament (the prize money is only A$75m!), the Australian Open is by far the most popular in terms of attendance numbers, with 812,000 spectators attending the 2020 tournament.

Notwithstanding our current fascination with the dramas playing out in Oz, we, the public, have always had a fondness and affection for the game of tennis, one which is totally different to that of other sports, and one which goes back centuries to its origins. The racket sport we now call tennis, is the direct descendant of ‘real’ tennis or ‘royal‘ tennis, which continues to be played today as a separate sport with more complex rules. Most historians believe that tennis originated in the monastic cloisters in northern France in the 12th century, but the ball was then struck with the palm of the hand; hence, the name jeu de paume (game of the palm). It was not until the 16th century when rackets came into use, and the game as we know it emerged. The roots of the game are firmly linked to the royal courts of France and England, with Henry VIII of England being one of the most avid players of his day – his luxurious tennis courts still remain to this day at Hampton Court Palace. In France the sport was so firmly associated with the Court and Nobility that during the Revolution many of the tennis courts we deliberately destroyed as a sign of a new era emerging.

Subliminally these Aristocratic links and associations have remained with us into modern times. Tennis still has the perception of being a genteel sport, one which is played out on immaculate lawns on sunny summer afternoons, with players dressed in immaculate tennis whites. One only has to look at Wimbledon to confirm this – the tournament is so much more than simply a sporting occasion, it has become a firm part of London’s social season, with its Royal Box, champagne, strawberries and cream! Without doubt this image belies the seriousness of the sport, and the huge financials at stake in modern tennis, however, it is also this je ne sais quoi that also adds to its modern success.

Depictions of tennis in western art very much follow the image of tennis as a jolly, social pastime played by the leisured classes and gilded youth. The summer is always eternal, and the player are carefree without a worry in the world! One of the most brilliant and prolific painters of this subject is the Victorian artist Sir John Lavery, who is more usually associated with the glamorous and elegant society portraits he produced throughout his life. Tennis, however, fascinated him and he returned to paint the theme on a number of occasions, producing both informal studies and highly complicated compositions.

One of the earliest depictions is Lavery’s 1885 painting, Played!! which captures the movement and drama of an exciting new sport, as a young woman lunges to return serve. In the early 1880s, Lavery had returned from Paris, where he was studying at the prestigious Academie Julian, and was quickly taken by the game. In the summer of 1885, he visited the home of a friend in the suburbs of Glasgow, where a tennis court had been set up. The painting was inspired by this visit, and marked a new direction for the artist, away from his more usual society portraits towards depictions of ‘modern’ life – no doubt influenced by the Impressionist works he would have seen during his stay in Paris. His choice of the subject and naturalistic portrayal was considered extremely avant-garde at the time. Lawn tennis was then at an interesting stage in its development as a modern sport. It had emerged in the 1870s and had been inaugurated at Wimbledon as recently as 1877, when the All England Croquet and Lawn Tennis Club introduced men’s singles championships. Ladies’ singles and men’s doubles had not been incorporated until 1884. The process by which women arrived on court was a gradual one, then, and mixed doubles matches were yet to come.

Played!! turned out to be a mere prelude to Lavery’s undoubted masterpiece on the subject which painted the same year. The Tennis Party, which is in the collection of the Aberdeen Art Gallery and Museums, is an absolute tour de force of a painting, showing huge sophistication of composition, movement and bravura brushwork. In spite of its apparent spontaneity the picture is not merely an arbitrary slice of life, rather it is highly constructed work aimed at giving the illusion of spontaneity. The depiction of both male and female players in the same game, which seems uneventful to a modern viewer, would have been the height of modernism at the time, where casual, real-time depictions of the opposite sexes cavorting together was very rare at the time.

Throughout his career Lavery, returned often to the subject of tennis, which more than any other sport held his fascination. Although Lavery’s first depictions of tennis might have been painted in Scotland, his later works were increasingly international showing the growing popularity of the sport. The paintings Lavery produced in the first quarter of the 20th century whilst on the French Riviera and in America are some of the most spontaneous and evocative depictions ever produced on the subject. Whether they were painted at the famous courts at the Hôtel Beau Site in Cannes – then ‘the’ place to go for well healed British holiday makers, or at the courts of the Breakers Hotel in Florida or in the private residences of Palm Beach, these paintings have a freshness and sense of movement which still have the power mesmerise to this day.

Lavery’s 1885 The Tennis Party remains, however, his most accomplished and monumental depiction of the sport, an image which, more than any other artwork has influenced our vision of what we feel tennis ‘should’ be, and it remains to this day the quintessential image of the sport.

 

 

If I had £5,000 to invest what would I buy?

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£5,000 to buy art – sounds wonderful, doesn’t it? It is certainly a decent chunk of change to play with – large enough to focus the mind and to open the possibility of buying something a little bit more special than a decorative wall filler. Conversely, the moment one starts looking at works in a slightly higher price bracket, and by artists who have more pedigree, suddenly £5,000 doesn’t seem that much at all! A strategy is, therefore, needed if the canny buyer is to maximise their buying power.

For me, if I had £5,000 to spend on one artwork, I would adopt a twofold approach – firstly I would look to buy as good a work on paper as I could find by an artist whose work I loved, but whose paintings are out of my reach. Secondly, in order to maximise my buying power, I would concentrate my search entirely on the auction market rather than buying from a retail gallery. Buying from auction can take a little more time, and it needs a little more research by the collector, but it often allows one to buy works considerably cheaper than retail level. As a famous supermarket says – every little helps!

The artist I would buy with my £5,000 is an artist who I think is significantly undervalued in the current market, both in terms of his talent as well as in comparison to the values many of his contemporaries achieve. Keith Vaughan is a relatively overlooked Modern British artist who was born in 1912 at Selsey Bill in Sussex. He was a self-taught artist with no formal instruction in art, yet he went onto forge a highly individualist and distinctive career which has until fairly recently has been overshadowed by the giants of his generation – Henry Moore, Barbara Hepworth, Terry Frost, Ivan Hitchens etc.

Vaughan started his career as a commercial artist when he was apprenticed at the Lintas advertising agency, from which he gained an understanding of composition and form – both essential skills in commercial art. From 1939, after he left Lintas, Vaughan became a full-time artist. With the outbreak of World War II, Vaughan declared himself a conscientious objector and joined the St John Ambulance; in 1941 he was conscripted into the Non-Combatant Corps.


During the war Vaughan formed friendships with the painters Graham Sutherland and John Minton, with whom after demobilisation in 1946 he shared premises. Through these contacts he formed part of the neo-romantic circle of the immediate post-war period. However, Vaughan rapidly developed an idiosyncratic style which moved him away from the Neo-Romantics. Concentrating on studies of male figures, his works became increasingly abstract.
Vaughan worked as an art teacher at the Camberwell College of Arts, the Central School of Art and later at the Slade School.

Throughout his life, Vaughan’s struggled with his own internal demons. Keith Vaughan was a gay man living in a time when homosexuality was illegal and actively frowned upon by Society. His struggle with his sexuality is reflected throughout his work and in his source of subject matter. Studies of figures and male nudes feature heavily in his work, although they are simplified and abstracted showing the influence of both international Modernism, Cubism his love of ballet and dance. Vaughan suffered from habitual depression and alcoholism, which eventually resulted in his suicide in 1977.

One might be forgiven for thinking that in light of all this Vaughan’s work would be negative and dour, however, this is wrong. As is often the case, personal struggles can produce works of great sensitivity and subtly. Vaughan’s work has a graphic quality that is softened by the use of a very sophisticated colour palette. They are very beautiful, elegant images.

The commercial art market has begun to reflect the increasing interest in, and appreciation of Vaughan’s work, with good examples now regularly achieving six figure sums at the auction. His works are also appearing more frequently at high end art fairs, where wall space has a commercial value, and a dealer’s decision to show a Vaughan instead of another artist is a calculated strategy, and one that reflects growing demand.

And yet, even with this increased visibility Keith Vaughan’s work is still undervalued in relation to many of his contemporaries, and it represents significant investment potential. His drawings in particular are surprisingly accessible financially and it is entirely possible to buy lovely pencil or pen and ink studies for a thousand or two, sometimes less; and more important, finished watercolours and gouaches can be bought within our £5,000 budget at auction.

How long this relative accessibility will last, I cannot say, but in my opinion now is definitely the time to buy Keith Vaughan’s work if like it and respond to it. Clearly, as always, liking an artist’s work is the primary reason for buying it, but it’s always nice to have a healthy upside too.

Rembrandt to Richter

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Ben Hanly on the Unusual Format of Sotheby’s Forthcoming ‘Rembrandt to Richter’ Sale

No doubt influenced by their hugely successful gamble in 2017 to sell Leonardo da Vinci’s Salvator Mundi in their Post War and Contemporary sale rather than in its traditional Old Masters setting, Sotheby’s has decided to take a similar approach this month with its much lauded summer auction – From Rembrandt to Richter.

On 28th July Sotheby’s breaks with auction tradition and showcases the finest quality works from all periods within a single sale – their rational being that quality transcends chronological period, and that the traditional auction categories are now unnecessary at the top end of the market. Behind this laudable aesthetic judgement lies solid business acumen – Sotheby’s, along with all the major auctions houses, are very keen to expand audiences for the less hyped markets they represent, and to entice cash rich, young contemporary collectors to consider purchases in more traditional areas. What better way of doing this than putting a major Gerard Richter Triptych (Wolken) along side one of the last Rembrandt Self Portraits remaining in private hands – the idea being that if they looks great at Sotheby’s, why wouldn’t they look great in a collector’s home.

Only time will tell whether this gamble pays off, but it’s hard to see how it can fail with so many beautiful works on offer. One thing is for sure, the sale’s key lot – Rembrandt’s Self Portrait, estimated at £12-16m, is expected to achieve a very strong price, solidly in the £20m region. Bearing in mind the iconic nature of this work, even the expected bullish price in the £20s clearly illustrates the relative value of buying in alternative areas of the market in comparison to the staggering prices achieved at the top end of the Contemporary market.
Download the From Rembrandt to Richter article here

Investing in Warhol Is Investing in Art History

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By Ben Hanly, Modern and Contemporary Art Specialist

Download the article here

“Investing in Warhol Is Investing in Art History” (Eric Shiner, Andy Warhol Museum)
The appeal of Andy Warhol’s work is universal and enduring, and it has been the bedrock of the Post War/Contemporary art market for decades, fuelled by his global fame and the rich supply of work. Not surprisingly, his images which were drawn so strongly from popular culture, have come to define our understanding of contemporary art and culture since the 1970s. The art of Warhol is now so mainstream and so inextricably linked to our visual vocabulary that it is impossible not to be familiar with it.

Contemporary art without Warhol is unthinkable, and this influence and popularity is reflected in the strength of his commercial market which has continued to rise on an upward trajectory since his death in 1987.
In many ways the Warhol market defies traditional market rules where perceived wisdom suggests that market strength is linked to the tension between supply and demand – where a limited supply exists, strong prices usually follow. Paradoxically, the opposite is true with Warhol who was a hugely prolific artist. In 1963, Gerald Malanga introduced Warhol to the hitherto commercial technique of silk-screening which he went on to use throughout his career to produce large numbers of canvases produced in various series, as well as extensive numbers of limited-edition prints.

Normally this would be a recipe for commercial disaster. However, with Warhol it turned out to be a strength. Warhol’s notoriety brought him global fame and this coupled with the easy accessibility of his images which have become icons of our time, has meant that there has always been a strong demand for Warhol’s work. The fact that the large supply of works on offer at any one time to collectors has encouraged a very buoyant and vigorous trading market for the artist. Similarly, the fact that collectors can enter his market at varying price points has been very helpful in developing Warhol’s market.

Even today, it is possible to buy a good Warhol limited edition print for as little as £25,000. Whilst this figure might not be exactly small change, it does represent extremely good value and a very attractive entry point level for new collectors entering the market of such an iconic artist. It is hard to believe that a Warhol Campbell’s Soup Can print can be bought at auction for a little as $35,000. The word ‘iconic’ is often used too freely these days, but in this case the use of the word is fully deserved. Warhol’s soup can imagery is truly iconic and for many people it represents what modern art is, so to be able to acquire such an important piece of art history for a relatively accessible price is remarkable.

At the other end of his market, Warhol’s major canvases can make staggering sums of money – such as his 1963 Silver Car Crash which made $105m at Sotheby’s in 2013; or his Triple Elvis, also from 1963, which made $82m the following year in 2014. It is not surprising that Warhol’s highest prices have been for his seminal early paintings – here rarity and uniqueness come into play as far fewer works were produced in the early 1960s than in later years, and all of them created with much more hands-on involvement from the Artist himself. It was only in the late 1960s/1970s that Warhol’s studio, his now famous Factory, came into full swing and started to produce large numbers of works with an ever-increasing supply of assistants and helpers. The early works from the 1960s are, therefore, pure Warhol and they are the truly iconic images which were to make Warhol’s reputation – his Soup Cans, Marilyn, Elvis, Jackie Kennedy etc.

A market as diverse and large as Warhol’s performs differently at its different price levels; prints perform differently to canvases, which in turn perform differently depending on date and quality. Clearly the masterworks will always be avidly sought after by major clients and achieve huge prices. However, it is the overall stability and buoyancy that is astonishing with the Warhol market across all sectors.
It is true to say that the value of Andy Warhol’s artwork—despite a brief dip in the 1990s—has been on an endless upward trajectory, and they continue to offer a secure investment opportunity to all levels of collectors. It should be noted that in 2014 alone the value of the international Warhol market sold at auction accounted for $570m – this figure accounted for more than a sixth of the global art market!
Warhol may have famously said that everyone has their 5 minutes of fame, but it appears that thirty-three years after his own death, Warhol’s artwork has a much longer lasting appeal to collectors!

Does Your Current Insurance Reflect Art Market Increases?

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Yayoi Kusama –
KOKORO (Heart), 1988

We asked our Head of Contemporary Art, Ben Hanly, to look at how values have changed over the past few years to illustrate just how important it is to have the value of your collection updated regularly. We think you will be shocked by the results!


David Hockney (British, 1937)
Pool Made with Paper and Blue Ink for Book, 1988
Lithograph, edition of 1,000
26.5cm x 22.5cm

2015 – £10,000

Now – £25,000


Yayoi Kusama (Japanese, 1929)
KOKORO (Heart), 1988
Acrylic on canvas
65cm x 53cm

2006 – £45,000

Now – £225,000


Andy Warhol (American, 1928-1987)
Marilyn (no. 31)
Screen-print, edition of 250
91.4cm x 91.4cm

2015 – £175,000

Now – £300,000


Banksy (British, 1974)
Girl with Balloon, 2003
Spray-paint and stencil on canvas, edition of 25
40.5cm x 40.5cm

2015 – £175,000

Now – £600,000

To speak to us about an art valuation call us on 01883 722736 or email [email protected]

 

The Art Market and Brexit

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With the final phase of Brexit looming ever nearer and no defined solution yet emerging, all sectors of the UK economy are thinking ahead nervously to discern what effect this messy divorce with Europe will mean for them – this is no less the case than with the UK Art Market.

The British art and antiques market is the third largest of its kind in the world with a global share of 22%, and a 65% share of the European Union’s art and antiques market. It represents total sales of over £10 billion annually and it is comprised of 7,850 businesses, providing direct employment for 41,420. The British art market is defined as being a ‘entrepot market’ in that it serves as a conduit for sales of artwork which are often imported into the UK solely to be sold here and then re-exported out of the country – one only has to look at the main Impressionist, Contemporary and Russian sales to demonstrate this, together with the top tier of international art fairs such as Frieze, Frieze Masters, Masterpiece and PAD. The Art Market is therefore particularly active and dependent upon cross-border trade.

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Mark Carney, Governor of the Bank of England, originally predicted that Britain would probably suffer a moderate Post Brexit downturn in the economy; this prediction now seems to be highly conservative with current estimates ranging from post-Apocalyptic melt down to a simple short-term realignment of the UK economy.

What is certain is that the strength of the Pound will continue to fall until clarity has finally emerged. This, in itself, is not universally bad for the UK Art Market as it makes purchasing UK goods cheaper for foreign investors – UK collectors, however, find it more expensive to buy internationally in the short term. The one category of high-value secondary art that will be affected negatively post-Brexit is art where the primary market is British buyers. Consignors may choose to wait for the Pound to stabilize and uncertainty to decline. The obvious category is Modern British Art of the 20th century. It is also possible that he Old Master market will be similarly hit in the short term as UK buyers make up a small but significant portion of the collector base.

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Having said this, it is not all doom and gloom for the UK market, typically UK collectors only represent between 10% of the total turnover at the main London Auctions – this figure includes purchases by foreigners living in the UK. Many Eastern European and Middle Eastern buyers will still prefer London over New York. Although it is true that some consignors may prefer to offer their works in New York rather than in London.

Post Brexit, London may indeed even emerge to be a stronger auction market compared to Paris and the rest of Europe as it should be free of EU regulations, particularly the Artist’s Resale Rights levy (ARR). This had final implementation in the U.K. in 2012, after six years of strong resistance by the government. ARR entitles creators of original works of art to a royalty each time a work is resold through an auction house or dealer for more than €1,000. It is levied at 4% on sales between €1,000 and €50,000, declining to 0.25% on sales at more than €500,000. ARR continues for 70 years after the artist’s death.

ARR has put the U.K. at a distinct disadvantage for art sales compared to dealers and auction houses in New York, Switzerland, or Hong Kong, which do not levy the charge. It has been suggested that the UK’s global art market share in post-war and contemporary (the sector most affected by ARR) fell from 35% to 15% from 2008 to 2013, due mainly to the implementation of ARR in 2006.

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Brexit or not, London will continue to be the preferred choice of residence for international Non-Dom Billionaires, many of whom are major art purchasers, and it is doubtful that a new government will do nothing to make the city or its tax advantages less attractive. London is a major centre for professional and financial services because of the rule of law, and attractive because of its cultural life and quality of infrastructure. The Brexit vote did not change any of this.

The uncertainty surrounding the whole Brexit negotiations has led to a great deal of money being transferred around the money markets to gold, US Treasuries and similar investments deemed a safe store of wealth. Historically, when financial markets are in turmoil, art is seen as a good store of long-term value, and a hedge against inflation and changes in the relative value of currencies. For iconic works, there’s a chance to to peg the purchase price against the future value of the US Dollar. The new financial fragility of the EU means that investors will be concerned about high-debt, high-risk member countries—notably Greece and Portugal, but also Spain and Italy. Borrowing for art purchases against assets in these countries may become more problematic and expensive so it is reasonable to expect that these national art markets will experience a downturn and will languish for a while.

In periods of uncertainly such as Brexit, art investors tend to moderate risk by investing in works by Blue Chip artists and more established genres rather than emerging artists since Blue-Chip artist are believed to be safer stores of value, even if the upside profit potential is less. Undoubtedly this will strengthen the high-end Impressionist and Modern markets, which are already the main players of the total market. This same trend will no doubt be experienced at the top end of the Jewellery and collectors watch markets. There is a consensus in the art market that this ‘flight to the better-known’ will be the case at least over the next year or two.

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In conclusion, as with everything surrounding Brexit, no certainly exists about how it will play out and the affect it will have on the UK Art and Antiques market – but in fairness, why would we expect there to be certainly following the messiest and most expensive divorce in world history? One thing is clear, in the medium to long term the Art Market will survive and adapt to any and all challenges thrown at it, but in the short term the domestic market will undoubtedly show signs of significant market contraction – but this, in itself, will potentially create new investing opportunities for collectors in the medium term.

As ever, it is the top end of the market which will weather the storm best with top examples by established artists attracting attention and achieving strong prices as investors diversify into these Blue-Chip works. Paradoxically, the strong prices that this alternative investing produce will no doubt inadvertently do much to help bolster global confidence in the art market in the medium to long-term.

Call us today to enquire about an appointment on 01883 722736 or email [email protected] or visit our website www.doerrvaluations.co.uk