Bidding wars erupted at a prestigious Toronto auction house as 27 prized pieces from the Hudson's Bay Company's historic art collection went up for sale, drawing art enthusiasts, historians, and those mourning the fall of Canada's oldest company. The Heffel Fine Art Auction House was so packed that organizers ran out of seats, forcing some bidders to stand along the sidelines to witness this unprecedented sale.
The star of the auction was an oil painting of Marrakech by former British Prime Minister Winston Churchill, which sparked the most intense bidding competition of the day. The circa 1935 masterpiece, originally estimated to sell for $400,000 to $600,000, ultimately hammered down for a stunning $1.3 million, making it the highest-selling item of the entire collection.
David Heffel, head of the auction house, emphasized the historical significance of the event, describing the items as "not just an honor to auction off but a privilege to own because they embody a legacy deeply woven into the Canadian fabric." The pieces being sold represent what Heffel considers the "cream" of HBC's massive collection of 4,400 artifacts, carefully selected for their artistic and historical value.
The auction began with oil paintings by W.J. Phillips, an artist whose work became synonymous with Hudson's Bay Company calendars that were distributed free at department stores and trading posts across Canada. The first Phillips piece, "Tracking on the Athabasca" from 1934, sold for $37,000, significantly exceeding its estimated value of $15,000 to $25,000. The painting depicts men trudging along an Alberta riverfront, helping to steady boats in the water.
Another Phillips masterpiece, "Hudson's Bay Company York Boats at Norway House" from 1928, commanded an impressive $130,000, setting what Heffel announced as a record price for a Phillips painting. This sale demonstrated the strong market appetite for works connected to Canadian history and the Hudson's Bay Company's legacy.
The auction featured an extraordinary range of historical subjects, with paintings depicting pivotal moments in Canadian history and the fur trading era that defined the nation's early development. Notable sales included "Lights of a City Street" by Frederic Marlett Bell-Smith from 1894, which sold for $575,000, far exceeding its estimate of $100,000 to $150,000. The painting of Toronto's Yonge and King streets captured a significant piece of urban Canadian history.
Several works by Charles Fraser Comfort performed exceptionally well, including "Barnston and Ballantyne at Tadoussac" from 1941, which sold for $475,000 against an estimate of just $10,000 to $15,000. Another Comfort piece, "Dr. John Rae Meets with Eskimos (Franklin Expedition)" from 1949, fetched $140,000, while "Last Dog Train Leaving Lower Fort Garry, 1909" from 1927 brought in $100,000.
The auction also featured maritime history with "Three Hudson's Bay Company Ships in the Thames" by Francis Holman from 1771, which sold for $375,000 despite being estimated at only $6,000 to $8,000. This dramatic result highlighted collectors' intense interest in authentic historical artifacts from the company's golden age.
Works by William von Moll Berczy also performed strongly, with his 1807-1808 portrait of "Rear Admiral Lord Horatio Nelson" selling for $100,000 and his "Battle of Trafalgar" from the same period fetching $110,000. These pieces connected Canadian history to broader British naval heritage.
Heffel had anticipated unprecedented interest in the sale, telling reporters in October that he expected record-breaking participation both from the live audience and thousands more watching online. "It's going to be exciting in the ballroom, but we've also beefed up our broadcasting pipe because we anticipate we'll have a record number of viewers across Canada and around the world," he had predicted.
The successful auction represents just the beginning of the dispersal of Hudson's Bay Company's vast collection. Heffel's company will continue selling the collapsed retailer's remaining pieces through a series of online auctions extending well into next year. The first online auction concludes next month and includes point blankets dating back to 1900, portraits of former HBC governors, and additional Canadian and fine art pieces.
Notably absent from the auctions is the royal charter that established Hudson's Bay Company in 1670, which remains one of the most significant documents in Canadian history. HBC is expected to seek court approval on Friday to allow its financial adviser, Reflect Advisors, to auction off this foundational document later this month, separate from the art collection.
The overwhelming success of Tuesday's auction, with most pieces selling for multiples of their estimated values, demonstrates the enduring fascination with Hudson's Bay Company's role in Canadian history and the strong market for historical Canadian art. The total results far exceeded expectations, confirming Heffel's belief that these artifacts represent an irreplaceable piece of Canada's cultural heritage.
