Bridget Riley takes off but does it reflect today’s market?

With back-to-back auctions held in Sydney late last month the local market had an unexpected boost.

With back-to-back auctions held in Sydney late last month by Sotheby’s and Deutscher and Hackett (27 & 28 August 2013), the local art market had an unexpected boost despite a looming election and conservative estimates.

Rather than perennial auction favourites Fred Williams, Jeffrey Smart and Brett Whiteley, it was a group of 10 paintings and drawings by British abstractionist Bridget Riley that stunned punters with an extraordinary hammer result of $AUD1.85 million (inc. buyers premium).

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Gina Fairley is ArtsHub's National Visual Arts Editor. For a decade she worked as a freelance writer and curator across Southeast Asia and was previously the Regional Contributing Editor for Hong Kong based magazines Asian Art News and World Sculpture News. Prior to writing she worked as an arts manager in America and Australia for 14 years, including the regional gallery, biennale and commercial sectors. She is based in Mittagong, regional NSW. Twitter: @ginafairley Instagram: fairleygina