BNZ Art Collection: McCahon artworks sold for $3.7 million

Five works by NZ artist Colin McCahon have sold for a combined total of $3.7 million at the BNZ Art Collection this afternoon – and concerns about their sale are still being raised.

McCahon’s Is there anything of which one can say, look, this is new? sold for $2 million – it had an estimate of between $1.5 and $2.5 million – although his O let us weep was sold for slightly less than its lower estimate at $775,000.

But most of the paintings at this afternoon’s auction for the BNZ Art Collection – including McCahon’s Small bush covered hillside, Kauri and Grey sky, red earth works – have sold for above their upper estimate.

Lois White’s Design sold at $115,000 above and Brent Wong’s Town Boundary sold for $175,000 more than the upper estimate. The Fugitive by Tony Fomison sold for $1,525,000 – its estimate was $600,000-$700,000.

Among the BNZ collection of more than 200 artworks were pieces by some of the country’s most important artists, Rita Angus, Gordon Walters, Toss Woollaston, Gretchen Albrecht, Milan Mrkusich, Don Binney and Ralph Hotere.

Webb’s Auction director of art Charles Ninow earlier said it was one of the most significant auctions in New Zealand history.

The Fugitive by Tony Fomison (left) sold for $1,525,000 – its estimate was $600,000-$700,000.
Photo: RNZ / Felix Walton

However, there have been objections to the auction of such significant art pieces to private buyers, with former New Zealand prime minister Helen Clark saying BNZ should not be selling millions of dollars worth of art that was initially purchased when the bank was state-owned.

Today, Auckland Art Gallery claimed BNZ dismissed its concerns over the sale of significant New Zealand artwork.

Gallery director Kirsten Lacy said the artworks were purchased when the BNZ was in state ownership but transferred when it was privatised.

She thought they should be available for everyone to see.

“There’s a special care for a corporate collection like that, to consider the national interest, and the bank is not interested in having a dialogue about what that means in terms of New Zealand’s cultural assets.”

BNZ was not interested in talking to her about the collection, Lacy said, but the bank said it had no formal approaches from galleries.

BNZ general manager of corporate affairs Cliff Joiner said the future of the BNZ Art Collection had been given careful consideration by the board over a two-year period.

The company decided the best way to continue to support the legacy of the art collection was to pass the privilege of looking after the works to others, and to support communities through the proceeds, he said.