Melbourne
(ANI):
Young
Sydney
artists
have
found
support
in
one
of
Hollywood's
star
couple
-
Cate
Blanchett
and
Andrew
Upton
-
who're
selling
two
valuable
works
from
their
personal
art
collection
in
a
bid
to
reinvest
the
money
in
works
by
local
upcoming
artists.
The
actress
and
her
playwright
husband
have
got
their
eyes
on
supporting
a
new
wave
of
artists.
"They
have
got
their
eyes
on
supporting
a
new
wave
of
artists," The
Daily
Telegraph
quoted
Deutscher
and
Hackett
auctioneers'
Damian
Hackett,
as
saying
of
the
sale
of
the
works
in
Melbourne
on
April
16.
Blanchett
and
Upton
are
based
in
Sydney,
where
they
became
co-artistic
directors
of
the
Sydney
Theatre
Company
in
December.
"I
understand
they
have
a
substantial
(art)
collection.
They
have
said
they
are
active
and
constant
collectors
and
that's
what
they
plan
to
continue
to
do,"
Hackett
said.
The
two
works
for
sale
from
the
Blanchett/Upton
collection
are
by
well-known
artists.
Rosalie
Gascoigne's
Iron
Bark,
1994-5,
is
estimated
to
sell
for
between
60,000
dollars
and
80,000
dollars.
The
other
work
is
a
painting
by
New
Zealand
artist
Colin
McCahon,
titled
Noughts
and
Crosses
7,
(The
First
Set),
1976.
Its
estimate
is
280,000
dollars
to
340,000
dollars.