The historic art collection of Hudson’s Bay Company heads to auction this weekend, marking a significant moment for Toronto’s cultural landscape and collectors alike. Walking through the preview at Waddington’s auction house yesterday, I couldn’t help but feel the weight of Canadian history hanging on those walls.
“This collection represents one of the most comprehensive corporate art acquisitions in Canadian history,” explains Stephen Ranger, Vice President at Waddington’s. “Many of these pieces haven’t been publicly viewable for decades.”
The collection spans nearly 350 years of Hudson’s Bay Company history, featuring over 300 works that once adorned the walls of corporate offices, flagship stores, and executive spaces across Canada. Notable pieces include striking landscapes by members of the Group of Seven, Indigenous art, and historical portraits of company figures.
What makes this auction particularly noteworthy is the timing. Hudson’s Bay, like many traditional retailers, has faced significant headwinds in recent years. The company has been strategically divesting assets while attempting to reposition itself in a challenging retail environment.
“Corporate art collections often become casualties during business transformations,” notes Megan Archibald, Toronto-based art market analyst. “But they also create unique opportunities for collectors and institutions to acquire historically significant works.”
The pieces range dramatically in estimated value—from accessible prints starting around $300 to major works expected to fetch six figures. During my preview visit, I noticed particularly strong interest in a striking A.Y. Jackson landscape estimated at $80,000-120,000.
The Royal Ontario Museum and several other major Canadian institutions have expressed interest in acquiring select pieces, according to sources familiar with the auction preparations.
What struck me most was the collection’s reflection of changing corporate identity. Early works emphasize the company’s role in Canada’s colonization and fur trade, while later acquisitions showcase more diverse perspectives including contemporary Indigenous artists—a visual journey through the evolution of both the company and our national self-perception.
For Toronto collectors, the auction represents a rare opportunity. “Corporate deaccessions of this scale don’t happen often,” explains Toronto gallery owner Janice Reynolds. “These works come with exceptional provenance, and many have never been on the open market.”
The auction takes place this Saturday at Waddington’s downtown Toronto location, with online bidding available for those unable to attend in person. Registration has already exceeded expectations, with interest coming from across Canada and internationally.
Beyond the commercial aspects, there’s something bittersweet about seeing this collection dispersed. These artworks once formed a cohesive narrative of one of Canada’s oldest companies. Now they’ll find new homes in private collections, museums, and perhaps corporate boardrooms of the digital economy.
For Hudson’s Bay Company, founded in 1670 and once synonymous with Canadian identity itself, this auction represents another chapter in its ongoing transformation. For Toronto’s art community, it’s a moment to reconnect with significant works long hidden from public view.
Whether you’re a serious collector or simply interested in experiencing a piece of Canadian history, the preview continues through Friday. I’d recommend setting aside at least an hour to properly appreciate the scope of this remarkable collection before it disappears into new hands.
