Painting fetches $505,000
A painting of Sir John Logan Campbell, a founding father and a former mayor of Auckland, has sold for more than $500,000 at auction.
The painting, by Louis John Steele, had not previously been displayed in public since it was painted, believed to have been in 1903.
It fetched $505,000 after a ‘‘particularly enthusiastic’’ round of bidding at Tuesday night’s auc- tion at the International Art Centre in Auckland.
Centre director Richard Thomson said it was a ‘‘fantastic outcome’’, and said he was pleased to note the painting would be staying in Auckland.
‘‘This is an exceptionally important painting in the history of New Zealand art and that was recognised by the level of bidding and enthusiasm.
‘‘We believe because of the importance of this work it must rank as a national treasure,’’ Thomson said.
Two Charles Goldie paintings were also up for sale on Tuesday.
A painting of a Maori chief sold for $530,000, which was $30,000 above its estimate, and the second Goldie painting was still under negotiation.
Several other painting also sold for well above their preauction valuation.
Thomson said he was pleased the John Logan Campbell painting went for above its estimate of $500,000.