Thursday 21 September 2017

Anglo Bank art auction raises almost €300,000

Stephen McKenna,Courtyard at Teri was one of 130 pieces of art collected from the offices of Anglo Irish Bank went under the hammer at Adams Art Auctioneers
Stephen McKenna,Courtyard at Teri was one of 130 pieces of art collected from the offices of Anglo Irish Bank went under the hammer at Adams Art Auctioneers
Kim en Joong,Oil on Canvas was one of 130 pieces of art collected from the offices of Anglo Irish Bank went under the hammer at Adams Art Auctioneers
Framed photograph of Paul O'Connell playing Heineken cup semi final was one of 130 pieces of art collected from the offices of Anglo Irish Bank went under the hammer at Adams Art Auctioneers
Solicitor Cahir O'Higgins pictured at Auction where 130 pieces of art collected from the offices of Anglo Irish Bank went under the hammer at Adams Art Auctioneers

Lyndsey Telford

An auction of pieces of art from the corridors and offices of the bailed-out Anglo Irish Bank has raised nearly €300,000.

More than 200 bidders competed for the rogue lender's corporate art collection - 93% of which was sold.

 

The art from the bank, which was renamed the Irish Bank Resolution Corporation (IBRC), went under the hammer on the orders of its liquidator KPMG.

 

Auction house Adam's in Dublin described the event as an "outstanding success" as it raised €281,000 - well over the €200,000 mark that was expected.

 

Among the 134 lots up for auction were a number of oil paintings by some of Ireland's best-known contemporary artists, including Louis le Brocquy, Martin Gale, Felim Egan and Stephen McKenna.

 

Watercolours, prints, sculptures, photographs and street scenes were also among the lots, valued from €50 up to €12,000.

 

The highest price paid was €17,000 for McKenna's Basket And Vessels.

 

Six paintings by Paulin Bewick, depicting Irish wildlife, made a combined total of €44,900.

 

Sean Scully's etchings all sold well over their estimate with his Raval No 1 fetching €6,600 euros.

 

In a statement, Adam's said the auction, which included phone and internet bids, had been good-natured.

 

"We are delighted with the result and it once again proves the point that collections with interesting provenance are very much sought after by Irish collectors," it said.

 

The IBRC was placed into liquidation by Minister for Finance Michael Noonan in February.

 

The proceeds of the auction will now go to the special liquidators.

 

Highlights of the art included a collection of canvases by Dublin artist Egan, six wildlife watercolours by Bewick, works by McKenna, the former president of the Royal Hibernian Academy, and le Brocquy's watercolour from 1997 entitled Being.

 

There were also numerous paintings of street scenes in Dublin, Limerick, Cork, Galway and Waterford by artists such as John Horan, Aiden Bradley, Rosita Manahan and Kevin Sanquest, whose panoramic birds-eye view of Cork city is 305cm (10ft) wide.

 

Anglo previously donated 18 works worth an estimated €160,000, along with the signage which hung over its Dublin headquarters, to the Irish Museum of Modern Art.

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