The East Hampton Elms, an impressionistic street scene by prolific American artist Childe Hassam (1859-1935) brought $288,000 to Shannon's Fine Art Auctioneers on April 25.
The 1920 oil on canvas features an American elm-lined street, peopled with everyday folk, and is typical of the artist's creative output.
Hassam's works have previously performed well at auction. A Paris Nocturne, an a-typical, twilight oil on canvas painted circa 1889, achieved $3.1m at Sotheby's in May 2006.
A 1966 Nicholas Krushenik (1929-1999) proto-pop art acrylic on canvas also sold with strong results, bringing $132,000 - a 76% increase on its $75,000 top estimate.
Krushenik was one of the forerunners of the pop art movement, which famously spawned Andy Warhol and Roy Lichtenstein. His abstract expressionist technique combined with his use of bold, bright colours, marked him out as one of the school's earliest exponents.
As this sale exemplifies, the fine art market has seen prices soar over recent years. Subsequently, collectors are increasingly looking to the second tier for their purchases, such as limited edition prints, posters and photographs.
In a recent interview with the Wall Street Times, American actor Leonardo DiCaprio discussed his vintage movie poster collection. "To me, that's a really undervalued market place," he told the publication.
"Some of these lithograph prints of film posters were essentially put up on the walls as advertisements, but a lot of them are one of a kind pieces."
Interested in art and photography? Take a look at these art and photography collectibles we currently have in stock.
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