Sir Anthony Caro Sculpture

Lovely price for an unloved Peterborough sculpture

A work by one of the world's greatest living sculptors and owned by a Peterborough charity will go under the hammer with a reserve price of between £100,000 and £150,000.

Celebrated sculptor Sir Anthony Caro's piece, entitled Lagoon, will be auctioned off in London on Wednesday, March 9, and is expected to provide a huge cash windfall for the Peterborough Sculpture Trust, which owns the artwork.

The trust, which relies on fund-raising to keep going, has been struggling for cash in recent years as grant applications have become harder and harder to come by.

The decision to sell the piece, described as a "monumental work" by auctioneers Bonhams, has been taken to give the trust funds to invest in upcoming local artists and to run more cultural events in the city.

Trust member Karen Harvey added that the rusted and varnished steel sculpture was one of its least popular pieces on its Sculpture Trail, in Thorpe Meadows, and would be expensive to restore after being damaged by graffiti-artists.

And Ms Harvey is confident that selling a work by one of Britain's most famous contemporary sculptors will improve the art offer in the city.

She said: "The feedback we had was that people had never really enjoyed the Caro piece and we think it is more suited to a built-up environment.

"In an ideal world if you are a collector you collect as much as you can, but in reality collectors swap and change. So, what we are doing is essentially swapping one piece for several works from new artists.

"It is a valuable piece, but we absolutely believe its sale will help put Peterborough on the cultural map. We already have an amazing collection and we will use the money to invest in artists looking to make a name for themselves."

The sculpture was conceived in 1976 and was bought by the Peterborough Development Corporation in 1984, which put it on display outside Stuart House, in St John's Street.

It was most recently situated on the Sculpture Trail, along with other pieces owned by the trust including works by John Maine and Tolleck Winner.

Ms Harvey admitted that the trust had not carried out any formal consultation with the public about the sale of such a valuable piece of art.

But a lack of affection for the piece during trust-run events identified it as an ideal work to sell to generate more funding for the charity.

She added: "It has been out of the city centre for more than a year and nobody has asked us about where it's gone, although I'm sure there will be a few people in the city who love it."

David Lewis, an art and design teacher at Peterborough Regional College, said he backs the trust's decision to sell the piece, but only if all the cash generated is pumped back into art for Peterborough.

He said: "I can seeing the logic behind selling it, provided the money is used to discover new artists and encourage more people to take-up sculpture, painting or animation. I would think it a shame if the money got frittered away.

"I can see why they have chosen a Caro piece, as along with Antony Gormley, he is the biggest name in the trust's collection and his work is collected across the world."

The work will be auctioned at Bonhams' 20th Century British Art sale at New Bond Street.

- Anyone who wishes to get involved with the Peterborough Sculpture Trust as a volunteer can contact Karen Harvey on 01945 773915.

Big bids expected of Caro's work

AUCTIONEERS Bonhams expect Sir Anthony Caro's work to generate huge interest when it goes under the hammer.

The artist has become one of Britain's most famous contemporary sculptors and Bonhams has described Lagoon as a "monumental work".

Despite Peterborough Sculpture Trust contending that the piece did not fit in at its Thorpe Meadows Sculpture Trail, the auctioneers think it can fit in to either an urban or rural location.

Matthew Bradbury, director of 20th Century art at Bonhams, said: "It is a monumental work in steel, which can only really be fully appreciated when standing in front of it.

"Among the largest pieces by Caro to be offered at auction, the sale of Lagoon is a rare opportunity to acquire a work by him on a vast scale."