Fairfax off-the-walls auction hammered by family

The decision, which the auction house estimates will fetch between $2.5 to $3.5 million, has dismayed the members of the founding Fairfax family.

The collection of more than 100 works includes paintings by Russell Drysdale, Lloyd Rees, Grace Cossington Smith, Frederick McCubbin and Sidney Nolan. There are also about a dozen portraits of Fairfax family members, some commissioned in the 19th century, which are to be offered for sale to the Fairfax family before the auction in November.

Purchases for the collection all but stopped when a former chairman, James Fairfax, was ousted from the company 15 years ago. The Fairfax family members sold control of the company to Warwick Fairfax junior in 1987 and the company was placed in receivership in 1990 under a mountain of debt.

Sothebys told James Fairfax and his sister, Caroline Simpson, yesterday that a list of the portraits would be sent to them.

Mrs Simpson thought the auction was ``scandalous. It's such a shock I'm speechless."

She added: ``I'm sure the shareholders will deplore this most inept decision by the board to bare the walls at the company building for a relatively small amount of money, to help the company's current poor finances."

John B. Fairfax said yesterday: ``My view is that there is no better place to house them than in the corridors of the company that acquired them."

The company, which publishes The Sydney Morning Herald, is keeping only one family portrait Fairfax founder John Fairfax.

It is understood Mrs Simpson, James Fairfax and John B. Fairfax are not interested in buying the family portraits, which include a Tom Roberts painting of Sir James Reading Fairfax, and Bryan Westwood portraits of Sir Warwick Fairfax, Sir Vincent Fairfax and James Fairfax.

The chief executive of John Fairfax, Fred Hilmer, was unavailable for comment yesterday.

The company's corporate affairs manager, Bruce Wolpe, said ``it is a superb collection, but it is not an organic part of the company's identity or business".

In its place, John Fairfax Publications plans to display photos and illustrations by its photographers and artists.

It is understood the matter was not discussed at a board meeting but was canvassed separately with several directors who gave it their support.

Corporate collections recently auctioned include BP's and some of Kerry Stokes's works.

The walls of the old Fairfax building in Broadway were laden with art works, among them a painting of the Sydney Opera House by Lloyd Rees. This work, commissioned by James Fairfax for the company's sesquicentenary, is expected to fetch up to $150,000, but the top price of up to $1 million is expected for Drysdale's Deserted Outback Station.