Last week British Airways sold 17 major artworks from its
collection of over 1,500 pieces at two separate Sotheby's
sales. BA has long been building an assortment of works by British
artists to adorn its executive lounges and London HQ, and artists
whose works were selected for sale included Bridget Riley, Terry
Frost, Patrick Heron, George Shaw, Julian Opie, Peter Doig and
Damien Hirst.
The outcome of the sale underlines art's value as an
investment vehicle, with the works having performed particularly
well at auction. The headline piece was Bridget Riley's
Cool Edge (1982) which sold for £1,870,000,
beating its high estimate of £1,200,000. Similarly Peter
Doig's Grasshopper Portfolio went for £56,250,
beating its high estimate of £15,000; and Terry Frost's
Colour Down the Side went for £47,000, beating its
high estimate of £30,000.
