Leonard Nelson’s Tomorrow Will Come painting sold above its target price in the sale of Dorrance Hill “Dodo” Hamilton legacies by William Bunch Auctions & Appraisals in Chadds Ford, writes Joseph DiStefano for the Philadelphia Inquirer.
The painting by Nelson, the late abstractionist, was among artwork found at the estate of Hamilton, the late Campbell Soup heiress.
Field Life by Paul Cezanne was the first piece to be sold last month for a stunning $1.5 million at Freeman’s auction house in Philadelphia. Tomorrow Will Come was listed for only $3,000, with expectations that it could go as high as $8,000.
According to Brent Byrne, head of Divi-Vest Advisors, an investment management firm in Bryn Mawr, the value of any painting is influenced by a small but powerful group of art gatekeepers, such as dealers, museum staff, and boards.
Byrne also said that Nelson fans have been somewhat frustrated that the painter’s work is not worth more when it comes on the market.
However, this time the interest was obvious, as the painting reached $16,000, doubling the high end of the expected range.
Read more about the sale in the Philadelphia Inquirer here.