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The University of Victoria Student Association Trust owns this Don Vinnie artwork, but sells it at auction on Monday night.
A painting of Don Vinnie, hung on the wall of the Kelburn campus of Victoria University of Wellington for decades, was auctioned at a hammer price of $ 600,000.
Internet bidders pay a total of $ 720,750 for their work. Mana Island, Once Buyer’s premium and GST are added.
While serving as a visiting lecturer at the University in 1971, Vinnie painted a large 2.6 x 3.6 meter piece depicting Mana Island and the hills of Polylua Harbor in front of the vast ocean and sky.
The painting was commissioned by the University of Victoria Student Association Trust, which wanted to sell between $ 500,000 and $ 800,000 at auction.
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Vice President Grant Gilford said he offered to buy the painting when the university was initially evaluated by an independent expert witness priced at “hundreds of thousands of dollars.”
“This work was very important to us because we are a public institution and have just experienced a very difficult economic situation, but I don’t feel that we should pay more than an independent evaluation. It was. “
Gilford said the painting was “symbolic” to both the university and Wellington City itself.
“It’s sad to see it work.”
Nicholas Green, president of the University of Victoria Student Association Trust, said the sale of paintings was not a “trust neglected” decision.
VUWSA executive members and student groups have decided to sell the work of the Trust held in 2017.
Previously, he sold sketches of Peter McIntyre of World War II held at Adam Art Gallery and works of Won Shintai held at the School of Medicine.
After moving to voluntary membership, Green said he needed trust to build assets for the long-term survival of the Student Association.
“After many soul quests and many discussions with VUWSA, we finally decided that retaining artwork was not the best investment for us and VUWSA.”
Green confirmed that the trust had discussed with the university about selling it to them, but was advised that it could go at a higher price.
This money will be used for “VUWSA General Investment”, including projects for student welfare.
Mr Green said VUWSA is an important part of the university, funding mental health programs, student involvement and clubs.
Bill Manhire, a short story writer and founder of the Institute for International Contemporary Literature, said the incident caused the loss of Colin McCahon’s paintings. Storm warning, Sold by the university in 1999.
“The sale of McCahon was a shameful act on the part of the university, but it’s a little different in that Vinnie isn’t as college as the trust of the Student Association.”