This Past Spring

Historic Financial Statement

In the auction business we can conclude that the art market is clearly experiencing a growth period. At Bruun Rasmussen we are again seeing a strong demand for the lots at our auctions, and in recent years we have been able to present a series of impressive financial statements. This year we even set a record, since 2015 represents the best annual report ever in our company’s history. I am pleased that we have been able to turn things around after a few difficult years in the industry. The great turn-around for us as an auction house is undoubtedly due to our international strategy, where we are dedicated to seeking out new markets around the world, which has increased the hammer prices at our auctions significantly. This internationalization makes us far less vulnerable as a company, and we are therefore better equipped to handle any potential financial crises in the future.

Exhibitions Abroad

Our international strategy is primarily aimed at the United States, the Far East and several European countries. Part of this strategy is to have the Bruun Rasmussen family and our valuation experts represented at the largest art and antique shows around the world. Before the traditional auctions at Bredgade in Copenhagen, we also arrange exhibitions with the highlights from the auctions in different major art metropolises. This spring we held events at the auction association Drouot in Paris and at the Danish Embassy in London, where we invited people inside for exhibitions of works by Vilhelm Hammershøi and his contemporaries. Both events were a success with many art connouseurs among the guests.

Hammer Prices in the Millions

A review of a period during the year always includes a summary of some of the most remarkable works of art that we have had under the hammer. We began the year with an auction of the works by the famous Danish artist Vilhelm Hammershøi, whose work is only rarely seen on the auction market. We were able to present six of his works at the auction, and the spring's two greatest auction sales came from this group. One was a landscape from Gentofte, which was sold for DKK 4.3 million and the other was a depiction of a woman with her back turned in an interior, which went for DKK 3.7 million. Cobra Art has for many years also been in demand at our auctions, and works by Asger Jorn and Ejler Bille achieved three of this spring's great hammer prices. In total, we achieved eight sales above a million kroner, and the last three of these included a six folded Chinese screen from the late 1800s, a beautiful portrait entitled "Lady in Red Dress" from 1917 by Harald Giersing, and finally a painting by Copenhagen artist Paul Fischer with a lively motif from Amagertorv.

New Artwork for the Museum Collections

At Bruun Rasmussen we enjoy our close cooperation with the Danish and international museum world. We benefit from each other's knowledge and the museums often follow our auctions closely. This was very much the case this spring, where we had a total of 22 museum purchases. This included the David Collection's purchase of the above mentioned landscape by Hammershøi, while the National Museum in Stockholm acquired C. W. Eckersberg’s painting "Oedipus and Antigone". In addition, Ribe Art Museum, Odense City Museums, Skagen’s Museum, The Museum of National History at Frederiksborg Castle, The Royal Danish Collection at Amalienborg Palace and the J.F. Willumsen Museum have also added new works to their collections from our auctions.

Auctions and Events during the Autumn

Although summer is upon us, we are already busy planning this autumn's auctions. On 20 September we open the doors for this autumn's traditional auction in Bredgade, Copenhagen, where we will focus on the international avant-garde art from the late 1950s until the 1970s. One of the auction's highlights within this area is a newly discovered work by the Italian artist Paolo Scheggi that has been estimated to be worth DKK 2-2.5 million. In addition I would like to highlight the so-called "Museum Table" by one of Danish design history's most original and uncompromising cabinetmakers Peder Moos. The table only exists in a very few number of copies, and the process of making it is documented in an interesting exchange of letters between Moos and the buyer Gert Poulsen. The estimated price for the table is DKK 300,000-400,000, and I am convinced that it will attract a great deal of international attention. One of my favourites among the antiques is a German Louis XVI-cylinder bureau from approx. 1780 in mahogany and gilt bronze. The front is inlaid with beautiful chinoiserie, and the creator is the renowned cabinetmaker David Roetgen, who provided furniture for many of Europe's royal houses in the second half of the 1700s. With such fine works of art we can look forward to an exciting auction, and I look forward to welcoming everyone who plans to attend.

We wish you a great summer!

Jesper Bruun Rasmussen