[ad_1]
On the walls of the Heffel Fine Art Auction House in Toronto, 27 paintings from the Hudson’s Bay Company’s art collection hang on display ahead of a scheduled auction.
The historic paintings are part of the former company’s more than 4,000 items, including paintings and retail artifacts, which will be sold.
“There is provenance in the history that art plays a role in value, and all of these paintings have tremendous provenance, and the Hudson’s Bay is that provenance,” said David Heffel, President of Heffel Fine Art Auction House.
Before the department store chain’s closure, many of the 27 main paintings were housed in the company’s Toronto headquarters. Among the favourites up for auction is a painting by former U.K. Prime Minister Sir Winston Churchill, titled “Marrakech”, with an estimated auction price tag between $400,000 and $600,000.
“Lights of a City Street,” by Canadian artist Frederic Marlett Bell-Smith, is also expected to generate significant interest, with that painting estimated to be in the range of $100,000 to $150,000.
“It depicts an early scene from 1894 from Yonge Street and King Street, and it’s fabulous; the artist himself is depicted in the works,” said Heffel.
Along with the historic art pieces up for sale, the Hudson Bay’s most iconic clothing and housing items, such as an assortment of coats and blankets, will also be sold at auction. The money generated from the auctioned pieces will ultimately go towards HBC’s creditors, who owe nearly $1 billion.
While the first online auction officially opens on Thursday, November 12, there will be several more over the next few weeks and months. The largest live auction will be held on November 19 at the Heffel Auction Ballroom, with staff working the telephones and website, and it will also include in-person bidding.
[ad_2]
Source link