Eminent works of LS Lowry, Auerbach, Munnings, Barbara Hepworth and Henry Moore have been auctioned in London.
Bonhams' 20th Century British Art sale showed that investment in home-grown talent has never been stronger.
The impressive array of paintings and sculptures, including The Art of Newlyn and St Ives collection, achieved some dazzling results with 92% sold by value.
The Frank Auerbach Portrait of JYM was the top lot at £240,000.
The oil painting from 1976 exceeded its estimate of £100,000 - £150,000 from a US bidder keen to secure a piece of British history.
Lowry's unusual painting depicting just one figure of a Man standing on steps, also achieved £162,000.
 Frink sculpture (Click to enlarge) |
Further notable lots within the sale included Bird by Dame Elisabeth Frink which quadrupled its estimate at £86,400 from an estimate of £20,000.
It is the earliest of Frink's sculptures ever to appear at auction and a topic of extensive debate.
Further elements of the sale, Under a Western Sky: The Art of Newlyn and St Ives also recorded some excellent results, most notably for Patrick Heron's The Jardinière which sold for £174,000 from an estimate of £80,000.
Jonathan Horwich, Bonhams International Head of Pictures told us:
"I think existing art buyers are bored stiff with not spending and are keen to do so now.
"New buyers are equally keen and see Art as just another way of investing their money, but where they can actually see and enjoy it. They also have a philosophical attitude towards its value short and long term."
Recent Greek and South African art sales have broken numerous world records, and with Warhol's 200 One Dollar Bills selling for $43.8m in New York earlier this week it certainly appears that the market is moving once again.
This is a fascinating and rewarding area of investment.
If you're looking for advice on Art investment please do not hesitate to contact us +44 (0) 117 933 9503 or email info@paulfrasercollectibles.com
