YANNIMA TOMMY WATSON

MARKET ANALYSIS

Yannima Tommy Watson
Yannima Tommy Watson (1935 - 2017)
Image: Blairhe

Shortly after the sale of Kukutjara, 2003, a multi-layered work measuring 140 x 177cm. for $36,300 at the auction held to raise funds for an art coordinator at Irrunytju at Cromwell’s in Sydney during August 2003 the Aboriginal art world’s attention focused on Tommy Watson’s work with intensity.

On hearing the news Tommy and members of his family travelled to Alice Springs where they supplied paintings, for a short time, to Red Sand Gallery, which was unsure of the prices they should attach to them, given that the only sale they had heard of was at a charity auction. However an untitled work submitted for Shapiro’s March 2005 auction measuring 121 x 200 cm and carrying an estimate of $15,000- $18,000 sold for $30,000 on the hammer which mean that one avid collector paid $39,000 including GST for a work that had barely time for the paint to dry.

Disillusioned by the magnitude of these two sales and he small percentage of the money he had received in return Watson decided to stop painting altogether and did not work again until persuaded to do so by John Iannou who offered him, in his native tongue Pitjantjatjarra, a deal that would see him earn more than $600,000 from his art during the following 12 months. In Tommy Watson’s solo exhibition held at Iannou’s Agathon Gallery in October 2005 no less than ten of the 30 paintings were priced at $55,000 and all had sold prior to the official opening. During the dame month Shapiro’s included a second work by the artist from Red Sand, which sold for $33,600. This work, Kungkarrakalpa, 2005 was smaller than their previous offering just six months earlier at just 120 x 150 cm in size yet the estimate had doubled to $30,000-40,000.

In just over two years Tommy Watson was firmly established as a ‘super star’, able to command a higher price for his new works than any other contemporary Aboriginal artist currently painting. The strength of interest in his work is confirmed by the length of the waiting list of anxious Agathon Gallery clients and the level of interest in the major work entitled Waltitjarra, 2006 measuring 204 x 251 cm. which was submitted by Iannou, on behalf of the artist himself, in Lawson~Menzies May 2007 sale. The painting was one of a number held in the trust fund for which the entire proceeds revert to the artist. After spirited bidding from no less than six potential buyers drove the price beyond its $80,000-$100,000 presale estimate two intrepid buyers pushed the price to $200,000 forcing the successful buyer to pay a staggering $240,000 for a work created less than 12 months earlier.

The consistently high standard of Watson’s work over the course of his brief artistic career has resulted in his paintings consistently selling above their estimates at auction. However the number of works that have been offered for sale on the secondary market is still very small and, given his age and temperament, it is unlikely that his oeuvre will be large enough for him to rival any of the top ten artists in the history of the movement in terms of overall sales. While anything other than very small works are already beyond the pocket of small investors larger paintings should continue to increase in value given the disparity between the current record price and his next four results, as well as their scarcity and wide appeal.

© Adrian Newstead