TOMMY MCRAE

Despite a number of authoritative texts on the artist written in 1994 Tommy McRae’s historical and artistic significance has only recently been recognized by institutions and private collectors outside of a small number of museum proffessionals. The first time anything by this artist was offered at public sale was in 1988 when Sotheby’s put up a small quarto sized sketchbook containing 30 marbled cardboard pages depicting the antics of colonists and the tribal and hunting activities of the Aborigines of Wahgunyah, Corowa and the Murray Basin area of New South Wales and Northern Victoria. Estimated at $15,000-18,000 they were unable to garner enough interest to attract a buyer and it was not until Christies offered two sketchbooks joined together and containing 22 images in 1994 that the artist’s first successful sale was recorded. The sketchbooks sold for $43,700, more than twice the high estimate and this sale stood as the artist’s record throughout the follwing decade. It is still the 4th highest sale recorded to date. Since then Sotheby’s have dominated the artists sales having sold 14 of the 18 successful offerings for a total value of $409,375.

Against a significant market trend his best year at auction was 2008 during which both of his two highest prices yet achieved were set. Sotheby’s just failed to eclipse the $48,800 paid for a small ink on paper image, War Dance 1900, sold at Joel Fine Art in June (Lot 3) with an image entitled Hunting Figures in their November auction (Lot26). However these two sales and another hunting scene which achieved $40,800 resulted in the artist’s career clearance rate jumping from 59% to 67% and his art market rating improving by no less than 11% in a single year.

Notable amongst those lots that failed to sell when originally offered are the only object credited to the artist, an engraved bellows. Passed in when first offered at Sotheby’s in July 2007 (Lot 2) it carried the same $5,000-8,000 estimate 5 months later at Charles Leski in Melbourne and sold this time for $8,338 (Lot 98). More importantly a particularly interesting and engaging image One of the Murray River Tribe’s War Dance (Before the Fight) c. 1890’s first offered at Christies in August 2004 (Lot 92) failed to find a buyer when offered with a presale estimate of $18,000-25,000 but achieved $20,400 the following year in Sotheby’s July sale (lot 6) when estimated at a slightly lower $14,000-18,000.

Overall 2008 was by far the artists best year at auction with all 5 works offered finding new homes. The 4 drawings sold for an average price of $40,195, a good $12,000 above the artist’s average. It certainly makes those thee sketchbooks containing more than 20 images each that have been offered over the past 20 years look remarkably good investments and, although his ranking amongst all artists of the movement did not improve as a result, his 2008 sales place him within striking distance of no less than 5 of the movements most prominent artist’s should they continue on this trajectory over the next year or two.