PHILADELPHIA, PA.- Freemans
announced the results of its highly successful American Art & Pennsylvania Impressionists auction featuring The Collection of Heidi Bingham Stott. With a sell-through rate of 95%, the 74-lot sale achieved over $2.8 million, surpassing its pre-sale high estimate.
The Pennsylvania Impressionists section of the sale achieved an 100% sell-through rate and accounted for nearly 80% of the sale total, realizing over $2.2 million in just 36 lots. The section opened with 11 works from The Collection of Heidi Bingham Stott, which totaled $1.3 million with nearly 82% of the works selling above their pre-sale high estimates. The stellar results achieved for Pennsylvania Impressionists, including works by Edward Redfield, Daniel Garber, George Sotter, and Fern Coppedge, reaffirmed Freemans position as the auction market leader for this collecting category.
There was excellent pre-sale interest and buzz surrounding the auction given the high quality of the material on offer, remarked Chairman Alasdair Nichol, The auction, which included two new world auction records, ultimately far exceeded our wildest expectations. With strong competition and bidding wars throughout, it felt like we were selling during a market peak rather than in current circumstances. We, and more importantly our consignors, are delighted with the outcome.
RECORD PRICES ACHIEVED FOR WILLIAM LANGSON LATHROP & JACKSON LEE NESBITT
The Pennsylvania Impressionists section of the auction was led by The Collection of Heidi Bingham Stott, which opened with The Bonfire by William Langson Lathrop (Lot 39). Estimated at $15,000-25,000, the important work elicited spirited bidding from 14 phone lines before ultimately selling to an online bidder for $112,500. This price set a new world auction record for the artist, adding William Langson Lathrop to the list of Pennsylvania Impressionists--including Fern Isabel Coppedge, Kenneth R. Nunamaker, and Antonio Pietro Martino--for whom Freemans currently holds world auction records.
Another world auction record was set earlier in the sale when November Evening by Jackson Lee Nesbitt (Lot 24) soared past its pre-sale estimate of $5,000-8,000 to sell for $52,000. This rare and fresh-to-market work was in the same private collection in Lancaster, PA for generations and is the basis for a print in the collection of the Whitney Museum.
TOP PRICES ACHIEVED FOR IMPORTANT WORKS BY EDWARD WILLIS REDFIELD AND DANIEL GARBER
Out of the auctions eight lots that achieved six-figure prices, seven of them were by either Edward Willis Redfield or Daniel Garber, the two titans of Pennsylvania Impressionism. Leading the sale was Redfields Spring at Point Pleasant on the Delaware River (Lot 40), the undoubted highlight from The Collection of Heidi Bingham Stott. Realizing $483,000, the frequently exhibited and published work was acquired by a private collector in Pennsylvania and is the highest price achieved by Freemans for a spring scene by the artist. A similarly successful result was achieved for Garbers Rodgers Meadow (Lot 44), also from the Stott Collection. This important work exceeded its pre-sale high estimate, selling to a collector on the phone for $312,500.
In total, the sale featured five works by Edward Redfield and three by Daniel Garber, and all met, or in the majority of instances, greatly exceeded, expectations: two additional spring scenes by Edward Redfield-- May, Point Pleasant (Lot 50) and The Peaceful Valley (Lot 57)--each realized $225,000; while the two remaining works by Garber exceeded their pre-sale high estimates with September Morning (Lot 45) selling for $112,500, and Autumn Solebury (Lot 46) doubling its pre-sale high estimate to realize $100,000, thereby setting a new auction record for the artists small-sized works.
AMERICAN ART HIGHLIGHTS
Great anticipation undoubtedly surrounded the Pennsylvania Impressionists section of the sale, but similar excitement was generated by many lots within the American Art section. The bidding wars began early in the auction when The Signing of the Compact in the Cabin of the Mayflower by Edwin White (Lot 4) more than doubled its pre-sale high estimate to achieve $32,500. This was soon followed by Theodore Robinsons Vermont Hillside (Lot 9), which also exceeded expectations when it sold for $43,750. N.C. Wyeths The Converted Barn (Lot 26) realized $75,000, and works by Jessie Wilcox Smith (Lot 22); Charles Burchfield (Lot 28); and George Weymouth (Lot 33) are just a few additional lots that sold above their high estimates. Mlle de C. by Arthur Beecher Carles (Lot 29) realized $27,500 and was acquired by the Woodmere Art Museum in Philadelphia. Woodmeres Director and CEO William Valerio remarks that he is Very proud to have acquired such a great painting for Woodmere and for all to know.