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Transcript of LEONARD, issue 9, August 2012
ISSUE NINE / AUGUST 2012
FREEPLEASE TAKE
A COPY
If you would like to receive Leonard you can subscribe online at leonardjoel.com.au for free digital delivery.If you would like to receive a printed version you can collect a free copy at Leonard Joel.If you’d prefer to be sent Leonard by mail you can subscribe to Leonard for $44 per year for postage and handling.
VALUATION AND CLIENT SERVICES
Monique Le Grand Phone + 61 (0) 3 8825 5620Email [email protected]
CORPORATE & PRIVATE COLLECTIONS
John Albrecht, Managing Director Phone 0413 819 767Email [email protected]
ART
John Albrecht, Head of ArtPhone + 61 (0) 3 8825 5619Email [email protected]
Nicole Salvo, Art SpecialistPhone + 61 (0) 3 8825 5624Email [email protected]
JEWELLERY
John D’Agata, Head of JewelleryPhone + 61 (0) 3 8825 5605Email [email protected]
CLASSIC FURNITURE, OBJECTS AND DESIGN
Guy Cairnduff, Head of Classic Furniture, Objects and DesignPhone +61 (0) 3 8825 5611Email [email protected]
COLLECTABLES
Giles Moon, Head of Collectables and BooksPhone + 61 (0) 3 8825 5635Email [email protected]
BOOKS AND MANUSCRIPTS
Giles Moon, Head of Collectables and BooksPhone + 61 (0) 3 8825 5635Email [email protected]
PRE–OWNED LUXURY
John D’Agata, Head of JewelleryPhone + 61 (0) 3 8825 5605Email [email protected]
NATURAL HISTORY
Giles Moon, Head of Collectables and BooksPhone + 61(0) 3 8825 5635Email [email protected]
THE SPECIALIST COLLECTOR FOR SINGLE OWNER AUCTIONS
Guy Cairnduff, Head of The Specialist CollectorPhone +61 (0) 3 8825 5611Email [email protected]
THE WEEKLY AUCTION
Eoghan DohertyPhone + 61 (0) 3 8825 5632Email [email protected]
DIGITAL MEDIA
Clare Greig, Digital Media Manager Phone + 61 (0) 3 8825 5613Email [email protected]
Leonard Joel Specialists
LEONARD JOEL
Primary Salerooms
333 Malvern Road,
South Yarra, Victoria 3141
Australia
Tel: +61 (0) 3 9826 4333
Fax: +61 (0) 3 9826 4544
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Leonard is published 10 times a year by Leonard Joel. If you have any questions regarding Leonard please contact 03 9826 4333
CoverBRUNO BENINI (1925-2001) Graeme Jones, Robyn Fong, Lucinda Wills model Concept for Gala, National Gallery of Victoria 1972 silver gelatin photograph37 x 27.5cmSold $1,020 IBP
PhotographyRick Merrie
DesignerMaria Rossi
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FOREWORD
At our recent American Civil War auction
at Leonard Joel an interesting fact emerged.
Not one of the forty four buyers had received
a hard copy catalogue in the mail. This raised
several questions. How did the buyers find
out about the auction? What was the point
of a catalogue being printed? Just how long
will it be until auction catalogues, in their
hard copy format, become an extinct spe-
cies? Recently a client advised me not to
illustrate a painting in a forthcoming cata-
logue to relieve him of the applicable Vis-
copy reproduction fee. His opinion was that
“everyone is online and no one looks at the
catalogue anyway”. I’m not convinced he’s
entirely correct but his observation, every
year, every month and every week seems to
be becoming more accurate. Auctioneers
will not tell you this but they would love to
mostly dispense with the time, expense and
angst associated with the production of large
scale catalogues. Why don’t they/we? A few
reasons at present. Firstly, it is still consid-
ered the most prestigious marketing tool in
the suite of communications before an auc-
tion. Secondly, not everyone is online, yet!
Finally, I think we humans have a very real
and very primal attachment to document-
ing, in physical mediums, and storing our
achievements or our memories on a shelf or
on a wall. I suspect that over the next decade
hard copy catalogues at auction will simply
no longer exist unless a very big client, with
a very big collection, wants to subsidise the
expense; either for memories sake or because
they believe the “thumping big catalogue” is
still the way to go. So the question remains.
If catalogues in hard copy are so important
why were they so unimportant at our recent
American Civil War auction? Probably
because not even we are aware of how vast
and pervasive the movement of information
through the internet quite is. The beauty of
the internet, for me as an auctioneer, is that it
seems the information that we upload takes
a journey much further and wider than our
traditional comprehensions about the reach
of websites and emails. There’s something
a little Russian Roulette about posting out
1000 catalogues and crossing your fingers
that they hit the “right” mailboxes! Digital
technology has taken the traditional cata-
logue on a much wilder and more valuable
ride and this evolution will only continue.
NO ONE LOOKS AT THEM ANYWAY
BY JOHN ALBRECHT
1 AUGUSTLEONARD
CONTENTS
AUGUST CONTENTS
CALENDAR 3
NEWS 4
ART AUCTION 6
JEWELLERY 8
KAZARI WAREHOUSE AUCTION 10
THE GRAHAM GEDDES COLLECTION 12
THE WEEKLY 14
CLASSIC FURNITURE, OBJECTS
& DESIGN 15
ANGUS O'CALLAGHAN 16
COLLECTABLES 18
COLLECTABLE RESULTS 19
ANNE MARIE GRAHAM 20
ART BUSINESS 21
GET LEONARD ALL THE TIME
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With more specialist categories and auctions than any auction house of its kind
in Australia, Leonard is the simplest way to remain abreast of all forthcoming
auctions, important sales results, events and auction news. With expert contribu-
tors from all fields of collecting Leonard will be an indispensable tool for both
the seasoned auction-goer and the new collector alike. Leonard is available
both free at Leonard Joel and online or can be subscribed to for an annual fee
of $44 inc GST (postage & handling). Visit us online at www.leonardjoel.com.au
or for subscription information contact [email protected].
FROM SINGLE ITEMS TO COLLECTIONSIf you have a single item or collection you
wish to sell, the Leonard Joel team of spe-
cialists can guide you through the entire val-
uation and auction process. We can provide
you with experts across all collecting fields,
no less than thirteen categories of auction to
select from and the most expansive calendar
of catalogue auctions in Australia. Leon-
ard Joel specialists conduct insurance and
market valuations for the entire spectrum
of clients - private collectors, corporations,
museums, fiduciaries and government enti-
ties are advised by our valuers and special-
ists on a daily basis.
TAILORED TRUST AND ESTATE SERVICESLeonard Joel has a long and distinguished
history of assisting both trust companies and
executors with the dispersal of important
collections. We provide fiduciaries (lawyers,
trust officers, accountants and executors)
with a complete suite of services to manage
accurately and successfully the dispersal
of large and small estates. Our services are
specially designed to aid in the appraisal
and dispersal of fine art, antiques, jewel-
lery, objet d’art, collectables, books & manu-
scripts and general household contents.
THINKING OF SELLING?
Our specialists are now sourcing single items and collections for the following categories:
AUSTRALIAN AND INTERNATIONAL ART
FINE JEWELLERY AND WRISTWATCHES
PRE-OWNED LUXURY
CLASSIC OBJECTS AND FURNITURE
MODERN DESIGN
SINGLE OWNER COLLECTIONS
COLLECTABLE TOYS AND SPORTING MEMORABILIA
MILITARIA
BOOKS AND MANUSCRIPTS
A LARGE RECTANGULAR GILT METAL CAGED SINGING BIRD AUTOMATONSold for $3,600 IBP
2 LEONARDAUGUST
FORTHCOMING AUCTIONS
The Weekly Auction Every Thursday in 2012 – 10am333 Malvern Road, South Yarra, Melbourne, Victoria
The Collectables Watch Auction Thursday 2nd August 2012 - 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria
The Monthly Toy Auction Thursday 9th August 2012 - 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria
Kazari Warehouse Auction Sunday 19th August 2012 - 12pm 7 Hill Street, Cremorne (Richmond), Melbourne, Victoria
The Australian Art Investment Trust Auction UNDER INSTRUCTIONS FROM THE DEED ADMINISTRATORS OF THE TRUSTEE OF THE AUSTRALIAN ART INVESTMENT TRUST Sunday 26th August 2012 - 2pm 333 Malvern Road, South Yarra, Melbourne, Victoria
Fine Jewellery Auction Sunday 9th September 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria
Pre-Owned Luxury Auction Sunday 9th September 2012 – 3pm 333 Malvern Road, South Yarra, Melbourne, Victoria
The Graham Geddes Collection of Important Antique Furniture & Objects Auction Saturday 15th to Monday 17th September 2012 333 Malvern Road, South Yarra, Melbourne, Victoria
The Sunday Fine Art Auction Sunday 23rd September 2012 – 2pm 333 Malvern Road, South Yarra, Melbourne, Victoria
Modern Design Auction Sunday 7th October 2012 – 2pm 333 Malvern Road, South Yarra, Melbourne, Victoria
Classic Furniture, Objects & Design Auction Sunday 18th November 2012 – 12pm 333 Malvern Road, South Yarra, Melbourne, Victoria
CALENDAR
Leonard Joel is a proud supporter of Arts Project Australia
Auctions and viewing times are subject to change.
Consigned for The Graham Geddes Collection of Important Antique Furniture & Objects Auction
22A PAIR OF ARCHITECTURAL, CLASSICALLY INSPIRED COLUMNS $2,600 - 3,600
3 AUGUSTLEONARD
NEWS
At the third annual photographic auction at Leonard Joel
on Sunday 22nd July two hundred works by Australian,
international and unknown artists went up for public auction.
The sale was marked by the first time auction offerings of work
by both Angus O'Callaghan and Bruno Benini. O'Callaghan's
images of Melbourne in the post-war period, both in color and
black and white, attracted strong bidding and the highest price
realized for the artist was for the colour work lot 581, titled
Royal Arcade, which sold for $2200 plus buyer's premium (BP).
Benini's portraits of posed women in lavish dresses and often
sumptuous surrounds provided an interesting, alternate view of
Melbourne and its interiors. Numerous of his works sold above
estimate with the highest price paid for lot 544, a portrait of
Helen Homewood (illustrated), which realized $1500 plus BP.
Works by Sievers, Dupain, Stern and Strizic also graced the
catalogue and sold well with the highest price for the auction
jointly held by Sievers and Dupain for Advertisement for
Elbeo Stockings, Contempora, Berlin 1938 and Flinders Street
Station 1946 respectively, both realizing $3200 plus BP. A high
sale rate and a well attended room confirmed the growing
appetite for collectable photography in Australia and collector
enthusiasm for artists "new" to the auction scene. We are now
inviting entries for our next major photographic auction.
Enquiries
Nicole Salvo | Art Department
Tel: +61 (0) 3 8825 5624
Email: [email protected]
On Thursday 2nd August Leonard Joel will offer a delectable
collection of Fine Wristwatches including brands such as Rolex,
Seiko, Tissot and an international watch company Schaffhausen.
Enquiries
Robert Haigh | Jewellery Assistant
(03) 8825 5618
SUCCESSFUL DEBUT FOR TWO PHOTOGRAPHERS
AUCTION THURSDAY 2 AUGUST AT 12PMVIEW WEDNESDAY 1 AUGUST 9AM TO 8PM
LOT 2570A JAEGER LE COULTRE MEMOVOX MASTER COMPRESSOR WRISTWATCH$8,000 - 12,000
COLLECTABLE WATCH AUCTION
4 LEONARDAUGUST
NEWS
Enquiries
John Albrecht | Head of Art
(03) 8825 5619
CONSIGNING FINE ART
DANISH DESIGN
This three seater GE-236 sofa by Hans Wegner (1914-2007) realised $4,.080 IBP at our recent Danish Design evening auction.
ENTRIES CLOSE FRIDAY 10 AUGUST
AUCTION SUNDAY 23 SEPTEMBER
ETHEL SPOWERS (1890-1947)Sold $19,200 IBP
On Sunday 15th July at 10am Leonard Joel undertook the rather
mammoth task of dispersing some 1000 lots from the Granny’s
Market collection. The Specialist Collector department was
delighted to be engaged by the proprietors to catalogue and
market this unique offering of literally “everything”. Granny’s
Market became synonymous in Melbourne as the “go to place”
for that rare thing that couldn’t be found anywhere else. It was
also not long before set designers for movies, TV series and
large retail chains realized that they could satisfy every quirky or
challenging decorating whim at the High Street establishment.
To walk in to Granny’s Market was to walk in to an interior that
felt and looked like a Dickensian antiquarian dealer that always
had something hidden away for a special visitor. The auction
brought out collectors from all walks of life and they were
treated to an extraordinary array of objects and furnishings, from
rare enamel vintage signs from around the world, to antique
desk sets through to items as diverse as pigeon clocks!
The collection was completely sold by 6.30pm with a sale
total just shy of the expected $200,000 total excluding
buyer’s premium. Highlights from the auction included a rare
Victorian Cadburys chocolate counter (lot 371) that tripled its
estimate to realize $3,200 plus buyer’s premium and a rare
Victorian printing press (lot 16) by J. RICHARDSON of Fleet
Street London that realised $2,400 plus buyer’s premium.
AUCTION MARKS END OF AN ERA
A COLLECTION OF TEN REVOLVING WORLD GLOBESSold $2,040 IBP
Nicole Salvo | Art Specialist
(03) 8825 5624
5 AUGUSTLEONARD
ART AUCTION
The Australian Art Invetsment Trust AuctionSunday 26 August 2012, 2pm
PreviewWednesday 22 August 2012 9am – 8pmThursday 23 August 2012 10am – 4pm
Friday 24 August 2012 10am – 4pmSaturday 25 August 2012 10am – 5pm
EnquiriesJohn Albrecht(03) 8825 [email protected]
24GEOFF LAGERCHE (BORN 1940)Rocks and Water, Wilson’s Promoil on linen72 x 200cmEstimate on request
33KIM WESTCOTT (BORN 1968)Kelly 1, 2003etching 6/1288 x 119cmEstimate on request
THE AUSTRALIAN ART INVESTMENT TRUST AUCTIONUNDER INSTRUCTIONS FROM THE DEED ADMINISTRATORS OF THE TRUSTEE OF THE AUSTRALIAN ART INVESTMENT TRUST
On Sunday August 26th an extraordinary collection of oil paintings
and editions from many of Australia’s foremost artists will be offered
for public auction at Leonard Joel. The works of art form the core
collection of The Australian Art Investment Trust (AAIT) that is now under
instructions from the deed administrators Taylor Woodings. The AAIT
invested in works of art and leased these works throughout the country
to various commercial and corporate operations. The collection was
curated to ensure that works complimented and enhanced working and
recreational environments and as such this auction provides a rare and
abundant opportunity for collectors, decorators and interior designers
looking for suites of works and impressive single works for collection
and corporate display. Literally hundreds of works will be offered at
fair market prices and shortly a full colour catalogue will be available
for purchase. To register your interest for this auction please contact
Nicole Salvo, Art Specialist at [email protected]
6 LEONARDAUGUST
ART AUCTION
42MARK SCHALLER (BORN 1962)Siren Nudeacrylic on canvas137 x 183cmEstimate on Request
233GRAHAM FRANSELLA (BORN 1950)Head on Tracketching A/P88 x 72cmEstimate on request
225CHARLES REDDINGTON (BORN 1929)Hot Sand and Sunacrylic on linen137 x 127cmEstimate on request
154ROGER BYRT (BORN 1959)Arabesqueoil on linen111 x 111cmEstimate on request
7 AUGUSTLEONARD
JEWELLERY
NOW CONSIGNING JEWELLERY, WATCHES AND PRE OWNED LUXURY FOR SEPTEMBER 2012
For over three hundred years, watch mak-
ers all around the world have been con-
structing the pocket watch. There has been,
however, a recent revival in their popularity
– as gifts to celebrate weddings or to mark
a monumental birthday. The attraction of
a humble, clean pocket watch on a match-
ing chain – reminiscent of quality, style and
elegance of old – surpasses mod cons and
quick fads. There is nothing quite like the
weight and feel of a carefully assembled
pocket watch and effortlessness of flipping
open the lid to reveal the time.
The watch maker’s imagination is reflected
in the infinite variety available. Count-
less styles, such as victorian, art deco, and
military, and incredible materials, from
gun metal to sterling silver and solid gold,
enamelled or set with precious stones. The
mechanical craftsmanship further adds to
their intrigue. Some perform the simple
task of telling the time, while others are full
complications, repeating the hours, quar-
ter hours and minutes, dates, months and
phases of the moon.
Most alluring of all is the history involved
in gifting a pocket watch. Whether it is
through passing it on to the next genera-
tion, or giving it a new life through celebra-
tion, a pocket watch has the ability to cap-
ture history through the marking of time.
When looking at acquiring a pocket watch,
ask yourself this. Where has this watch
been? Who had owned this watch? What
has this watch seen? If only these remark-
able time pieces could talk. So next time
you see a pocket watch just think; what can
it tell me about its life.
Philip Gore
Ferntree Gully Watch & Clock
TIC TOCPOCKET WATCHES - THE NEW BLACK!
A ROLEX POCKET WATCHSOLD $3,120 IBP
8 LEONARDAUGUST
JEWELLERY
AN ENGLISH PAIR CASE VERGE POCKET WATCH MADE FOR THE DUTCH MARKET, THE DIAL SIGNED STOAKES, LONDON, CIRCA 1720SOLD $1,320 IBP
A SILVER CASED VERGE POCKET WATCH CIRCA 1710SOLD $4,800 IBP
A FRENCH SILVER CASED QUARTER REPEATING SKELETON POCKET WATCH THE MOVEMENT SIGNED E. FERRIER, 66 RUE DE RENNES, PARIS, CIRCA 1850SOLD $2,640 IBP
AN ENGLISH STERLING SILVER PAIR CASED VERGE POCKET WATCHSOLD $1,200 IBP
AN ENGLISH/DUTCH PAIR CASED VERGE POCKET WATCH THE DIAL SIGNED D KOSTER, AMSTERDAM, CIRCA 1710SOLD $4,800 IBP
A FRENCH 'ONION' VERGE POCKET WATCH CIRCA 1690SOLD $7,200 IBP
AN ENGLISH 18CT GOLD PAIR CASE VERGE POCKET WATCH WITH A SHAGREEN OUTER CASESOLD $4,800 IBP
A SWISS SILVER CASE DOUBLE DIAL CHRONOGRAPH CIRCA 1900SOLD $360 IBP
9 AUGUSTLEONARD
KAZARI WAREHOUSE AUCTION
Kazari Warehouse AuctionSunday 19 August 2012, 12pmAuction & Viewing On-Site at7 Hill Street, Cremorne (Richmond) Melbourne, Victoria
PreviewSaturday 11 August 2012 10am – 5pm Sunday 12 August 2012 10am – 5pmWednesday 15 August 2012 10am – 8pm Thursday 16 August 2012 10am – 5pm
Friday 17 August 2012 10am – 5pm Saturday 18 August 2012 10am – 5pm No viewing auction day
EnquiriesGuy CairnduffHead of The Specialist Collector(03) 8825 5611 / 0407 828 [email protected]
AUCTION SUNDAY
19 AUGUSTAT 12PM
KAZARIWAREHOUSE AUCTIONView catalogue online atwww.leonardjoel.com.au
Bid live for this auction atwww.artfact.com
Easy Weekend Parking(Car Park also opposite Coco Republic, Church St)
10 LEONARDAUGUST
KAZARI WAREHOUSE AUCTION
It is now possible to see the wood for the
trees at Kazari Warehouse at 7- 11, Hill St,
just off Church St., Richmond – an area now
known as Cremorne. Stacked to the rafters
for far too long, furniture piled too high for
most to see or imagine in the home, there
is now a spacious new arrangement with
pieces newly emerged from the dust to be
admired anew, as if fresh out of the con-
tainer, including C17th, C18th and C19th
Chinese furniture and Chinese and Japa-
nese architectural pieces, previous stored
by the Directors for a possible grand design
home. Items in this Warehouse auction are
equal to many pieces at Kazari Collector, the
main store and gallery space 450, Malvern
Rd, with fine art, screens and collectables
along with a quality selection of Japanese
and Chinese furniture.
“Reorganising the shape of the business is
essential in these times, just as when we
first opened our warehouse to the public in
the mid 80’s recession. Champagne open-
ings were considered poor taste, then,” says
Jo Maindonald. “Kazari was one of the first
warehouse outlets in the part of Richmond,
now called Cremorne.”
Clear space is available at the warehouse
because earlier this year, Ziguzagu, the pop-
ular vintage Japanese kimono textile part
of the business, moved to Kazari’s Annex
at 440, Malvern Rd, Prahran, next door to
Kazari Collector. “There was a well beaten
path from a steady stream of lovers of beau-
tiful textiles; from creators of quilts to fash-
ionistas from fashion houses in search of
special details, says ” Robert Joyce, Kazari’s
other director.
Robert, who has been the main buyer for
Kazari since the early days in High St, when
the buying was mostly from Japan says,
“I’ve been buying in mainland China since
the mid 90’s, when China opened up for
trade. Only a few years ago, the local mar-
ket was sceptical about what was coming
out of China. Now, as everyone knows, there
are Chinese people scouring the world and
sending items back. “
The items in this auction include an eclectic
mix of small decorative items, some unusual
art objects; a Chinese colonial four poster
bed from Malacca, a Chinese opera bench
and Japanese erotic art are included with
the lots to be sold off –the estimates range
from $50 to $5,000 – and there are more
than 600 items.
Some auction highlights include:
A late 17th century, Qing dynasty, armour
plated security door – suitable as a front
door in a contemporary architectural
designed home, a feature in a courtyard, or
door to a wine cellar.
• 50 lots - other architectural features
including Japanese Edo and Meiji period
doors, nineteenth century security doors
and decorative panels, summer sliding doors
and papered shoji panels.
There are several Chinese Buddhist altar
tables from Qing dynasty temples in Qinghai
province, bordering Tibet – which have trav-
elled 4,000 kilometres to market in Beijing
over potholed roads. These work incredibly
well in long narrow hallways and under con-
temporary art works or Japanese screens.
• 30 lots - Japanese screens including some
we haven’t time to repair – estimates $100 -
$1000, though many are really worth much
more. Hanging mechanisms, in some cases,
will easily support these screens on the wall
as large mural pictures, or for use as free
standing dividers. Repairs can be made by
our resident Japanese paper conservator – it
is advisable to get quotes before auction.
Karuma dansu, rare chests on wheels and
Kaidan dansu, intriguing and ever popular
stair case chests.
Also included is a plethora of assorted items
including ceramics, lacquer items, ephem-
era, tea ceremony items, baskets, boxes,
gessoed puppet heads, Chinese carpets and
Japanese bamboo carpets and a Chinese
colonial four poster bed from Malacca plus
Bob Daly mural sized circus canvas hoard-
ing to collectable manga posters and shunga
erotic art.
• 20 Shelf lots – of assorted items.
50 lots - of other pieces of Chinese furniture
– excess to requirements – benches, seats,
desks, cupboards and various tables and
stools.
• 20 lots - Sideboards – functional furniture
for dining rooms and TV’s – some up to 4 m
long.
• 15 lots - make up an eclectic mix of coffee
tables from different periods and origins –
early nineteenth century Chinese day beds
to sophisticated Japanese carved Kamakura
lacquer tea tables.
• 20 – 30 lots Erotic paintings ( shunga),
Ukiyo-e, Japanese woodblock prints and
several framed and unframed paintings.
• 40 – 50 lots of Imari and Seto-ware – por-
celain and ceramics.
• 10 – 15 lots chests of drawers from Japan,
chests on chests, cho-dansu and small tea
cabinets.
• 40 lots of textiles – bundles and boxes of
kimono, ukata or summer dressing gowns,
banners, obis, Boy’s Day fish and other ban-
ners – excess to requirements.
Japanese style stone lanterns and water
pots.
11 AUGUSTLEONARD
THE GRAHAM GEDDES COLLECTION
THE GRAHAM GEDDES COLLECTION OF IMPORTANT ANTIQUES & OBJECTSAUCTION SATURDAY 15 SEPTEMBER TO MONDAY 17 SEPTEMBER 2012 MELBOURNE, AUSTRALIA
190A IMPORTANT ITALIAN PAINTED, IVORY INLAID EBONY AND EBONISED CABINET* CIRCA 1860 $46,000-55,000
12 LEONARDAUGUST
THE GRAHAM GEDDES COLLECTION
The Graham Geddes Collection of Important Antiques & ObjectsAuctionSaturday 15, Sunday 16 to Monday evening 17 September 2012
Preview at 877 High Street Armadale, Melbourne, AustraliaSaturday 8 September 2012 10am – 5pmSunday 9 September 2012 10am – 5pmMonday 10 September 2012 10am – 5pm
Tuesday 11 September 2012 10am – 5pmWednesday 12 September 2012 10am – 8pmThursday 13 September 2012 10am – 8pmFriday 14 September 2012 10am - 5pm
EnquiriesGuy CairnduffHead of The Specialist Collector(03) 8825 5611 / 0407 828 [email protected]
140A PAIR OF EARLY 19TH CENTURY VENETIAN ENAMELLED GLASS WALL MIRRORS $20,000-30,000
735A PAIR OF 19TH CENTURY FRENCH GILT BRONZE MOUNTED VARIEGATED MARBLE CASSOLETTES $6,000-8,000
540A FRENCH EMPIRE GILT BRONZE FIGURAL MANTEL CLOCK $1,600-2,600
395A MONUMENTAL PAIR OF 19TH CENTURY FRENCH BLACKENED CAST IRON FIGURAL TORCHERES EACH BEARING A PLAQUE INSCRIBED L. DENONVILLIERS & FILS MAITRES DE FORGES 174, RUE LAFAYETTE, PARIS $36,000-42,000
100A FINE QUALITY LOUIS XV STYLE ORMOLU MOUNTED KINGWOOD AND PALISANDER BUREAU PLATMAKER’S MARK P. SORMANI, PARISLATE 19TH CENTURY $50,000-60,000
13 AUGUSTLEONARD
THE WEEKLY
The Weekly Auction – Viewing Wednesdays 9am to 8pm / Auction Thurdays 10am / View online at leonardjoel.com.au
THE WEEKLY
At our recent weekly Jewellery Auction a happy client jumped the queue and acquired this Birkin handbag by Hermes for $11,590 IBP
Leonard Joel, under instructions from Tim Goodman, adviser
to the powers of attorney, recently offered for public auction
a most interesting collection of antiques and collectables from
NSW which included furniture, European and English silver,
ceramics, art, jewellery and collectable books. This late 18th
century life sized oak carving was one of the more interesting
items from the dispersal and it realized $3120 (IBP).
14 LEONARDAUGUST
CLASSIC FURNITURE, OBJECTS & DESIGN
NOW CONSIGNINGENTRIES CLOSE 28 SEPTEMBER 2012
CLASSICFURNITUREOBJECTS &DESIGN
A FINE QUALITY PAIR OF FRENCH BRONZE AND GILT BRONZE CANDELABRA FOUNDRY MARK FOR HENRI PICARD, 19TH CENTURYSOLD FOR $9,600 (IBP)
ROBIN DAYA RECLINING CHAIR England, 1952
Enquiries
Eoghan Doherty | Manager of Weekly Furniture
Tel: +61 (0) 3 8825 5632
Enquiries
Guy Cairnduff | Head of Classic Furniture, Objects & Design
Tel: +61 (0) 3 8825 5611
AUCTION SUNDAY 7 OCTOBER 2012
MODERN DESIGN
ENTRIES CLOSE
17 AUGUST2012
15 AUGUSTLEONARD
ANGUS O'CALLAGHAN
On July 22, photographer Angus
O’Callaghan’s photographic prints went
under the hammer at Leonard Joel. This
little known Australian photographer’s
works were sold alongside the likes of
photographic icons and household names
Wolfgang Sievers, Helmut Newton, Max
Dupain, David Hockney and Mark Strizic.
Ben Albrecht who represents Angus, and
is responsible for the rediscovery of Angus’
works, believes the auction was a “really
great way of getting his name out there,
I really wanted his photography to have
a listing on the secondary art market.”
Looking through the viewfinder with Angus
it is hard to believe that we are only just
now discovering this unique documenter of
Melbourne in the sixties. I had the rare and
exciting opportunity to sit down and speak
with Angus and ask what had inspired his
documentation and why had we not had the
privilege of seeing it until now. The answer
I would find was an inspiring story of never
giving up your passion.
Angus’ story is not an unfamiliar one for many
born of his generation. Born in Melbourne,
seven years before the great depression
and one of 12 siblings, Angus O’Callaghan
began his journey into photography in what
most would think to be the last place such
a creative endeavor would occur. He was
consigned as an unofficial photographer
whilst serving for the Australian Army as
an engineer in Syria in the Second World
War for two years. Here he was responsible
with the task of photographing damaged
structures and bridges using his own camera,
never seeing the photographs beyond the
negative stage. He then developed an interest
in photojournalism while working as an
English teacher in Melbourne. Documenting
the Suez Canal crisis of 1956 using a
standard 35mm camera, Angus returned
with a suitcase full of slides which Women’s
Weekly published, his first commercial
commission. It was then that he decided to
setup a studio as a photographer. “I didn’t
actually set up as a fashion photographer or
a wedding photographer, I thought, I will do
a book that was the thing to do at that time, a
book of a city, Melbourne city.”
Japanese camera manufacturer, Yashica,
produced the 635 in 1958, a medium format
twin lens reflex or TLR camera using 120
roll film at 6” x 6”. It was this camera that
Angus captured his social documentation of
a changing city, the city of Melbourne.
“I read a lot about professional
photographers from overseas, Europe and
America and in many ways they were more
advanced, except for the few we had here.
They recommended the medium format, so
I bought two of those at $45 each. They were
sitting in a window in Collins Street up near
George’s. I remember seeing them in the
window there and they attracted my eye and
the price, I can buy two instead of one. One
for black and white, one for colour.”
Angus would often take a photo of a scene
in both mediums. He explains that using
these cameras with their fixed lenses was
quite a disciplined format to work with and
having no telephoto lenses; his principal
technique was to walk in close to a subject
or walk out. This created a voyeur almost
fly on the wall approach to his photographs.
“You feel like you could be there.” He says.
The quality of the photographs he found
to be better than expected which was
confirmed when they were produced in a
large format. Angus: “they are quite sharp,
more resolution than I expected. Because
I was only thinking of publishing my
photography at book size, nothing bigger”
His plan was to document his love for the
city and publish a book of photographs,
to capture an image of a city’s landmarks
in a new way. So from 1968 he began
documenting the architecture, the people
and the city itself, documenting the shifting
attitudes and surroundings of Melbourne in
the late sixties. Of particular importance for
this period of his work is that at the time the
city’s Victorian architecture, particularly
what was then known as the ‘Golden Mile’
of Collins Street, was being demolished and
dramatically redeveloped by Melbourne’s
premier demolition fellow ‘Whelan the
Wrecker’, responsible for the demolition of
many iconic Melbourne architectural sites
of the 1960s. Subsequently, the destruction
of these buildings prompted the formation
of the National Trust of Victoria. Angus
remembers seeing Whelan the Wrecker
demolishing the city he loved: “He used to
drive me mad, walking around the city with
all of this destruction going on.” Lucky for us
Collins Street is featured quite prominently
in Angus’ images, giving us a visual
documentation of these absent structures
residing now only in our nostalgic, hazy
memories.
Angus’ images shy away from the
stereotypical, almost tourism campaign
shots, which were so common in books,
published on Australia at the time, ‘Graham
Kennedy’s Melbourne’ published in 1967
by Thomas Nelson Limited comes to mind.
An agenda to represent Australia to the
world in such a way as to project an image
of a country full of endless beaches, red
earth, bushmen, with modern, livable,
thriving cities, whereas Angus captured
those elements of a city that weren’t grand.
He chose to show a different angle and
take an approach that at the time wouldn’t
have been marketable to an international
audience, something that didn’t reinforce
the stereotype of the archetypal Australian
image. “You are looking for something
that is different and interesting,” He says,
“There was a provincialism, ours is the
best, if it isn’t, we will make it the best and
tell the world it’s the best. So when people
saw my work they thought, that’s not really
Melbourne, we know its Melbourne, but
where’s the grand panorama?”
It is not hard to appreciate that at the time
his images didn’t project an image to the
world of how we craved to be perceived
to an international audience. It’s not until
we look at his work 40 years on that the
importance of what he captured can finally
be recognized and regarded as one of the
most significant collections of Melbourne
documented on film.
The imagery doesn’t evoke a sense of
grandeur, more so the everyday, the
commonplace, the changing city. Young
& Jackson neon lights, drizzly Melbourne
weather on Princess Bridge, new migrant
butcher shops spruiking 29 cent Corned
Brisket and Lamb’s Fry, Milk bars with
‘Moon Men Fit” broadsheets decorating the
pavement, the fondly remembered Southern
Cross Hotel with its minty hues, the block
arcade with its Minnie skirts and shopping
Nuns. There is a subtlety in the imagery
where nothing is overstated. An obvious
angle one would photograph the hulk that
is Flinders Street Station would be to stand
adjacent to the station in front of St Paul’s
Cathedral with a wide-angle lens to create
an imposing, announcement of a city pining
for recognition on a world stage, an image
that could be printed on a postcard and
posted across the world and to the mother
country. Instead Angus sees beyond the
obvious and looks for subtly in the everyday,
taking his images as if like a voyeur in a city
bustling with change and neon. You can feel
his love for the city in each image; they are
love letters to a city. “You have to know the
city. I went to Sydney for a couple of weeks,
my sister was living there, and I got keyed
up but it wasn’t the same, I didn’t know the
city, I knew of it, I had been there, but as a
tourist, I didn’t really know the city like the
Sydneysiders know it, what to really look
for.”
ANGUS O’CALLAGHANTHE CITY IS LIFE
BY EAMON DONNELLY
Angus O’Callaghan’s 1958 Yashica 635 medium format TLR camera.(detail)
16 LEONARDAUGUST
ANGUS O'CALLAGHAN
So what was his process behind capturing
these iconic images that only now are being
rediscovered 40 years on? “It was what
you called street photography or urban
photography. It’s a city in life. I wanted to
include people, I wanted to put adjuncts to
them, you’ll see the edges, you’ll see houses
or cars, they add to the picture. Because
you are restricted by the camera, you had to
think, how could I get an interesting picture
without all of these lenses and filters?” It
was this restriction of the fixed lens where
we can truly see the talent and skill in
Angus’ images. They are framed perfectly;
his compositions of the everyday are what
make his work so beautiful. “Composition
is the secret of interesting photography”
he explains. “Rarely did I take more than
one picture of a scene; you were pretty
frugal with your film as it was quite costly.
I have noticed with digital you get wasteful,
you start taking pictures and you’re just
throwing them away like cards.”
It is one thing to be able to take a nice photo
but in capturing those iconic moments
in time there were some occupational
hazards of walking the streets which
was still suffering from a hangover of the
great depression and post war suspicions.
“I would walk the streets, looking for
subjects. Some days you go all day and
take very few pictures. You get abused as
well. For instance if I was photographing
an old fence in a lane, wouldn’t you think
it was nothing? A lot of people would
think ‘What’s wrong with this bloke?’ if
you photographed a private home.” Angus
would also take a conventional, professional
approach to gaining access to buildings. “I
used to write letters to firms for permission
to photograph their buildings.” This would
often turn out to be counterproductive, with
the marketing departments offering Angus
bland, corporate, staged photographs for
him to feature in his proposed book of
Melbourne.
From 1968 to 1971 Angus worked on
producing a book that perhaps was ahead of
its time. So did he find a publisher? Have we
ever had the privilege of uncovering a dusty
old Rigby published book on the city and
people of Melbourne in second hand stores,
filled with images that are so sincerely
beautiful and intimate? The answer is
surprising but not unexpected.
“One publisher said they we’re interested,
we’ll have a look at it. I had it assembled
with quite a voluminous draft narrative;
they were very interested but had filled
their publishing quotas. I tried two or
three others but wasn’t getting anywhere.
I remember one publisher, he showed
me a book on Melbourne and said ‘sorry I
already published this one, but yours would
be far better.” Angus goes on to tell me: “I
met a chap who was an ex representative
of the Herald, I showed it to him and he
was very interested but couldn’t get me a
publisher. He also tried Angus & Robertson
and a few others and I thought if he can’t
do it I wouldn’t have much hope with it. So
that ended the idea, I just put it away, went
back into teaching until I retired in the
early 90s”
After the death of his first wife in the
1990s, Angus moved to Queensland
where he undertook a diploma course in
Photography at Toowoomba Tafe in his mid
seventies. Whilst studying he did various
commercial jobs, wedding photography,
photojournalism and selling images to
photo libraries, but still treated it as a
hobby. “I took up photography again when
I retired; I went into a stock library and
sold a few pictures, mainly for books and
advertising. They just sent you a cheque for
half the amount they got, only $50 a picture
then, some were $100 depending on what
magazine or book it was going into. I sold a
few, I was happy doing it.”
So how have we come to rediscover or in
fact newly discover this incredible image-
maker? As life would have it, purely by
chance, when two years ago Ben Albrecht,
at the time joint-owner of Kozminsky
Jewellery in Bourke Street Melbourne,
was contacted to participate in a charity
art auction as a guest auctioneer. In a back
room he discovered a black and white
photograph of a Japanese lady looking in a
shop window in Collins Street and knew he
had stumbled upon something special.
“I spoke to the lady who was in charge
and asked ‘who took this photograph?’
I thought it was a one off. She told me it
was Angus O’Callaghan. I asked for his
telephone number as I would love to give
him a buzz, which she replied ‘he’s in the
other room, you can have a chat!’ It was a
leap of faith because I knew by the image it
was really special. I gave Angus my address
to send me some images and five days later
I got this post pack choc ‘o’ block full of
transparencies. I started looking through
them and thought these are phenomenal.”
No doubt these transparencies hadn’t been
seen in public for decades and one wonders
whether Angus himself had reviewed
them since the disappointment of failing
to secure a publisher all those years ago.
So knowing he had stumbled on something
incredible, Ben worked with Angus to
scan and print editions of the collection
through JCP Studios, which resulted in an
exhibition of the collection two years ago,
and a rediscovery of an important body of
work that hadn’t been seen since 1971. A
body of work, which Ben acknowledges,
transcends generations.
“When we first had the exhibition there
was the older generation of Australians,
people who had lived through the 1960’s
and the 70’s as 30 year olds, people who
are my age and then you had the younger
generation. The work really pleased a lot of
different generations.”
In 1968 Angus began the undertaking of
producing a book that failed to secure the
funding of an open-minded publisher and
now in 2012, Ben Albrecht is working on
finally finishing the book that Angus set
out to publish 40 years ago. And going by
the auction results of his works this July,
some prints well surpassing the thousand
dollar mark, in particular ‘Royal Arcade’
(pictured) selling for $2,640, there has
never been a better time than now for
Angus to finally get the audience and
appreciation he so duly deserves as one
of this country’s greatest Photographers;
an acknowledgement and appreciation
that has eluded him throughout his life
and career. Now in his 90th year, it has
taken almost half a century for his work
to be recognized which is something he is
philosophical about. “Some things don’t
happen, then other things do happen,
it’s not always what you think is going to
happen. I call life a winding track.”
ANGUS O'CALLAGHAN (BORN 1922) Fashion Streetarchival print on rag paper 4/2039 x 39cmSOLD $780 IBP
ANGUS O'CALLAGHAN (BORN 1922) Royal Arcadeprint on rag paper 1/1080 x 80cmSOLD $2,640 IBP
ANGUS O'CALLAGHAN (BORN 1922) Show Bagsarchival print on rag paper 1/2039 x 39cmSOLD $456 IBP
Eamon Donnelly is an award-
winning, internationally recognised
illustrator, artist and designer with
representation in New York City and
here in Melbourne. He has worked
for iconic international brands and
magazines, exhibited his works both
locally and abroad and is an Australian
image advocate and historian, and is
founder and creative director of The
Island Continent, an online archive
documenting the Australian image and
its image-makers.
www.eamo.com.au
www.islandcontinent.com.au
17 AUGUSTLEONARD
COLLECTABLES
NOW CONSIGNING
COLLECTABLES & SPORTING
MEMORABILIA FOR 2012
18 LEONARDAUGUST
COLLECTABLE RESULTS
BIDDERS BATTLE FOR CIVIL WAR MEMORABILIA AND EARLY PHOTOGRAPHY.
RARE QUARTER-PLATE DAGUERREOTYPE OF BARONGAROOKSOLD $10,800 IBP
ALBUM WITH PHOTOS INCLUDING PORTRAIT OF 'TRUGERNANNER/TRUGANINI'SOLD $4,080 IBP
CASED STEREO DAGUERREOTYPE BY ANTOINE CLAUDETSOLD $3,840 IBP
Two private historical collections formed the Collectables sale at
Leonard Joel on 22 July. The first part of the sale included 180 lots
of American Civil War memorabilia compiled by Bob Simpson from
1960s to the 1980s. As well as a strong presence in the saleroom, there
was considerable interest from American collectors, with more than
fifty participating through absentee and online bidding via Artfact.
com. Antique firearms achieved particularly good results, including
lot 98, a Burnside Percussion Breech Loading Carbine that sold for
$1,920 (IBP) against an estimate of $600-800. Another highlight
was lot 144, and impressive Infantry Captain’s frock coat, cape and
accoutrements that sold for $3,120 against an estimate of $3,000-5,000.
Part 2 of the sale was another one owner collection, of 100 lots of
daguerreotypes, ambrotypes and other early forms of photography. Lot
186, a rare quarter-plate daguerreotype of an Australian exterior scene
titled ‘Barogarook’ attracted a great deal of local and international.
There was fierce bidding from the room and several telephone
bidders. The rare image was eventually knocked down to an Australian
buyer for a remarkable $10,800, against an estimate of $400-600.
19 AUGUSTLEONARD
ANNE MARIE GRAHAM
PRIVATE SELLING EXHIBITION OF OIL PAINTINGS BY MELBOURNE ARTIST ANNE MARIE GRAHAM
ANNE MARIE GRAHAM (BORN 1925)Silence Please 1989oil on linen61.0 x 91.5 cmEstimate on request
LEONARD JOEL ARE DELIGHTED TO BE HOSTING THIS INTIMATE EXHIBITION FOR SALE OF 28 WORKS FROM ANNE MARIE GRAHAM’S STUDIO.
The Anne Marie GrahamExhibition
VenueThe Red RoomLeonard Joel333 Malvern Road, South Yarra
Exhibition TimesWednesday 15 August 2012 10am – 8pmThursday 16 August 2012 10am – 5pmFriday 17 August 2012 10am - 5pmSaturday 18 August 11am to 5pmSunday 19 August 11am to 5pm
Enquiries & Price ListMonique(03) 8825 [email protected]
20 LEONARDAUGUST
Super Art: Time to Move Forward
Below is an edited text of a speech I made
recently at The James Makin Gallery,
Melbourne.
To borrow Julia Gillard’s 2010 campaign
slogan - it is now time to move forward on
the super art laws that came into effect dur-
ing the recent period of political turmoil – by
having the new laws amended in line with
the government’s original promise to the arts
industry to simply mandate new storage and
insurance requirements for super art assets.
It is obvious many Australians wish to invest
in the art market. One of the reasons why is
a nervousness and distrust of financial mar-
kets – ironically this is the exact opposite
to the reasoning behind The Cooper Report
- which advocated that only prudentially-
regulated investments would be allowed in
order to protect retirement savings.
When the Cooper Report was released two
years ago the all ordinaries index stood at
4350 – today it is actually 200 points lower.
Super funds have responded to the disap-
pointing performance of the stock market by
reallocating their assets into cash at record
levels and this has led to a growing desire by
investors to diversify their investments into
other areas like artworks.
During this same period the Australian art
market has held its ground and continues to
turn over approximately $100 million per
year at auction. This is a tremendous cultural
and economic achievement and places Aus-
tralia ahead of similar nations like Canada
– who have an extra few centuries of history
and a French heritage in their favour!
It is important to recognise that superannua-
tion investments by their nature are held for
long periods and this seems to be a good fit
with the art market where artists can pro-
duce works over their lifetime. At the same
time the ability of self-managed funds to con-
tinue to invest in the art market has become a
deeply political issue.
There is a mystique around the activities of
artists, dealers and valuers but the public
should be made aware that acquisitions of
art, although a very enjoyable past-time, are
also investment-driven and not just a per-
sonal folly.
Unfortunately the financial services indus-
try groups art with other collectables like
antiques and coins and describes these types
of investments as “exotics”.
The danger of the term “exotics” can be
seen in a recent edition of the Super Made
Easy magazine which illustrates an article
on buying artworks and collectables through
super funds with images of retired people on
yachts.
Artworks are a very different class of asset to
yachts and memberships in social clubs for
three main reasons:
(a) The art market has a very long history and
it is integrated on a global level
(b) The creation of art itself is part of a
broader arts industry that supports commu-
nities all over the country and is part of the
cultural fabric of Australia
(c) Art is now defined separately in the resale
royalty legislation
However not all art is suitable for investment
by super funds – particularly now that the
super art laws have been changed. Art invest-
ments in super funds should be a considered
part of the entire portfolio of investments
and not isolated to a single painting or a sin-
gle sculpture.
What makes a super fund unique is the
“sole purpose test” – the fund must meet
the requirement that it exists solely to pro-
vide benefits to its members in the event of
retirement.
In relation to artworks and the sole purpose
test the ATO argues that hanging artworks
at the home of a member immediately con-
fers a benefit to that member pre-retirement
and therefore breaches the sole purpose test.
This proposition has not been tested in court
but it is the rationale behind the new super
art laws.
However if art was seen as a legitimate
investment class – separated away from the
other “exotics” that constitute the ATO defi-
nition of a collectable - the problems associ-
ated with hanging super art at home would
mainly go away.
Roger Dedman analysed the art market in
2009 and concluded that carefully cho-
sen Australian paintings bought at auction
with the intention of being held for at least
5 years and preferably 10 can confidently be
expected to produce a satisfactory rate of
return when viewed purely as an investment.
Artworks can be very suitable for SMSFs.
They are more likely to return growth with
a long-term strategy which suits many in
the accumulation phase of their investment
strategy. It is also a more personal form of
investment as you can follow the career of
the artist you have invested in and in this way
it can be seen as a form of “ethical investing”.
The Cooper Report changed the landscape
for super art investing. Central to under-
standing this are the rule changes to in-house
assets and related party transactions – which
are no longer allowed.
Previously the in-house asset rule with
respect to artworks meant that you could
keep and display artworks in your house – up
to a value of 5% of the assets held by the fund
– without breaching sole purpose.
The related party rules pre-Cooper meant
that super art could be displayed and leased
to a company or individual associated with
the SMSF. This is no longer the case nor can
artworks owned by the member of a SMSF be
bought by that SMSF or transferred across as
a contribution.
But importantly investor choice has been
maintained. The new rules encourage col-
lectors to think about their artworks as a col-
lection or an investment within a portfolio
of other investments – this is positive. What
is now needed is to have the super art laws
modified so they do not create disincentives
in the future – and before the five-year tran-
sition period from the old to new rules ends
on 30 June 2016.
So what should these amendments be?
Suggested amendments to the super art
laws
1. The rules for SMSF artwork investment
be separated from the rules for other forms
of collectables.
2. Artworks should be defined by reference
to the Resale Royalty Right definition and not
by reference to the old ATO definition.
3. Capital gains or losses on the sale of
artworks should be permitted to be off-
set against capital losses or gains on other
classes of assets except for collectables.
4. The in-house asset rule should be reintro-
duced for artworks.
5. Storage requirements to be modified:
artworks should be permitted on the prem-
ises of the member provided they are not on
display (except for the in-house asset rule).
Such an arrangement could be satisfied by a
Statutory Declaration by the SMSF trustee to
the Fund’s auditor.
6. Cost of the Insurance requirements to be
eased by modifying the storage measures.
One of the reasons behind the success of the
Australian art market over the last twenty
years has been the role of superannuation,
particularly in the self-managed sector, to
provide liquidity and certainty to the mar-
ket. It is a world-class system that deserves
its place in the retirement policies of the
country.
ART BUSINESS
ART BUSINESS
Michael Fox is a qualified accountant and
professional fine art valuer who successfully ran the
Save Super Art campaign to prevent the prohibition
of artworks from self-managed superannuation
funds (SMSFs). He is a member
of the Leonard Joel Valuation Panel and is engaged
exclusively by Leonard Joel to provide advice to
their clients in relation to artwork investment in
SMSFs. He may be contacted at
WE NEED TO ENSURE THAT WE CONTINUE TO SUPPORT OUR DEVELOPMENT CULTURALLY AS WELL AS ECONOMICALLY.
AUSTRALIA HAS A TALENTED BUT FRAGILE VISUAL ARTS SECTOR AND THE BENEFITS OF PROTECTING THIS FAR OUTWEIGH THE RATIONALE FOR THIS SPECIFIC RECOMMENDATION.
ANDY PENN, FORMER HEAD OF AXA ASIA-PACIFIC, JULY 2010, COMMENTS MADE IN SUPPORT OF THE SAVE SUPER ART CAMPAIGN TO PREVENT THE BAN ON ARTWORK INVESTMENT BY SUPER FUNDS
BY MICHAEL FOX
21 AUGUSTLEONARD
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