Canvas by Henri Matisse expected to fetch up to $5.8 million at Toronto auction

TORONTO – A painting by French artist Henri Matisse will be up for sale in Toronto this spring.

The Heffel Fine Art Auction House says the 1919 painting, “Femme assise sur un balcon,” could fetch between $3.8 million and $5.8 million at its auction next month.

The spring sale features 116 works, estimated to be worth a total of between $15 million and $23 million, including a robust selection from Canada’s Group of Seven.

Three pieces by Lawren Harris will be open for bids, including a sketch of Lake Superior expected to hammer down between $250,000 and $350,000.

The Art Gallery of Ontario is deaccessioning 17 canvases by A.Y. Jackson through Heffel this spring, with further works to be sold in upcoming auctions.

Heffel will also offer works from the estate of Montreal art collectors Blema and H. Arnold Steinberg, which features several renowned Quebec artists.

Among the highlights from the collection are two paintings by Jean Paul Riopelle, each valued between $1.5 million and $2.5 million, and a black-and-white canvas by Paul-Emile Borduas estimated to be worth between $300,000 and $500,000.

Other offerings include pieces by international artists such as Pierre-Auguste Renoir, Karel Appel, Asger Jorn and Fernando Botero.

Previews will be held in Calgary, Vancouver, Montreal and Toronto ahead of Heffel’s live auction at the Design Exchange on May 29.