Last night a record sale price was achieved for a painting by living New Zealand artist, Michael Smither.
His, Sea Wall and Kingfisher 1967, went for $342,000 at the International Art centre auction. That was more that $50,000 more than the previous record high of a painting sold by a living artist.
Charles Ninow, head of fine art at auction house Webb's, joins the show to explain how these values are reached and why works from artists who aren't alive are worth more.
Michael Smither's 'Sea Wall and Kingfisher 1967'. Photo: Painting by Michael Smither / Image from International Art Centre auction catalogue
