Economic downturn hits Montana art auctions
Published: April 13, 2009
Buyers found bargains this year at art auctions in Great Falls, Billings and Missoula – an outcome that didn’t surprise the directors of the three museums that benefited from the sales.
Although attendance was down about 15 percent for the annual Russell Auction, held March 20-21 in Great Falls, sales income was the fifth largest in the event’s history at $1,467,000.
The event, orchestrated annually by the Ad Club/AAF-Great Falls, is the single biggest fundraiser for the C.M. Russell Museum, which will receive a donation of auction proceeds in June. In addition, the Quick Draw generated $81,000 – the second highest income in its history – all of which goes directly to the museum.
“We’re totally pleased with the results,” says Susan Johnson, interim CEO at the Russell. “We knew the recession could be a factor. We just worked really hard to make it one of the single greatest events in the state.”
Saturday night’s sale of an original watercolor by Charlie Russell, “Before the Trial,” for $100,000 was a big boost to sales. In addition, another Russell, “My Brother,” went for $57,500 on Friday, and “A Knock on the Door” by Andy Thomas brought $51,000 Saturday night – the second and third largest sales of the weekend. Organizers noted that prices were lower for works in the mid-range, but that the higher-end pieces still sold well.
Sales were down 30 percent at the Yellowstone Art Museum’s auction, held March 7 in Billings, and attendance tumbled too, from around 500 people last year to just over 300 this year.
“Naturally, it’s disappointing,” says YAM director Robyn Peterson. “What’s encouraging is that it wasn’t the quality of art, or anything we did wrong. Everyone – the artists and the buyers – are still in the ring.”
Sales totaled $118,000, and the two top sellers were “Spanish Peak Angus” by Theodore Waddell, which sold for $6,000, and James Urbaska’s “Light Streak over a Field,” which brought $4,000.
“We saw soft sales across the board, and had unsold pieces in all price ranges,” says Peterson. “While we hope people who come to a benefit auction recognize there’s a need, the fact is, some pieces went out the door for prices I hope we’ll never see again.”
In response to the lackluster sales, YAM organized an Artist Stimulus Exhibition during the last two weeks of March, featuring 40 works of art that weren’t sold during the auction. Thirteen pieces were purchased, grossing an additional $10,900.
Her staff, she said, was nimble in responding to the auction results with the “stimulus” exhibition. “They’re very much back-to-the-drawing-board kinds of people,” she added. “That’s the advantage of being in a creative business.”
The auction results – which account for 25 percent of the museum’s operating budget – won’t force YAM “to shutter any galleries,” says Peterson. But the museum has cancelled an exhibition and is relying more on its permanent collection.
YAM is continuing with a capital campaign to convert an adjacent warehouse into a “visible vault” for the collection. The innovative design – the first in the region – will help the community learn what’s involved in preservation and conservation.
“There’s definitely a will among art lovers in the area to keep us afloat,” says Peterson. “As time passes, sponsors who haven’t stepped forward for awhile are realizing they haven’t.”
The annual Missoula Art Museum Benefit Art Auction, held Feb. 21 at the Hilton Garden Inn, netted the museum $85,773 after expenses. In addition, the “Artini: Auction – In Your Face” event, held Feb. 19, garnered a net income of $6,555. During this year’s event, 11 local artists created works that day, which were auctioned that evening.
The overall income of $92,328 from both events fell well below last year’s amount of $135,000, but was still more than the museum had projected.
“At the beginning of this calendar year, we adjusted our projection down to $75,000, in reflection of the impact this economy would probably have on our success,” Nici Holt, development director at the MAM, told the Missoulian. “We didn’t really know what to expect honestly, so we tried our best to keep expenses down, fill the room and encourage bidding.”
The highest selling artwork was a mixed-media painting by Missoula artist Monte Dolack, which brought $4,750. And although one work out of the 71 for sale received no bids (it had a starting price of $4,000), many other artworks sold for more than twice their minimum.
Although revenue was down from the museum’s primary fundraiser, Holt doesn’t expect services to diminish in the coming year. “No line item in our budget has had to be eliminated,” she told the Missoulian. “It just means there’s belt-tightening across the board.”
Both the YAM and Russell Museum are already gearing up for summer fundraisers. The Russell’s annual invitational miniatures show opens June 20. The fixed-price sale continues through the summer – the museum’s highest visitation period – and wraps up Sept. 12.
They’ve added a few new features this year, including a silent auction and raffle. “We’re really looking forward to another good year,” says Johnson. “We hope the economy will rebound.”
“People who like art are still buying art they like,” she adds. “It’s just really critical to get the catalogue prepared and get the word out.”
The YAM hosts its annual Summer Fair, July 18-19. “Hopefully, we’ll meet our goals,” says Peterson.
“People are getting tired of saying no,” she adds. “They want to get back in the swing of things and be part of something exciting.”
– Kristi Niemeyer
