While a handful of higher priced photo lots tucked into the contemporary art sale pushed the tally up at the recent run of Contemporary Art and Photography Online Only sales at Grisebach in Berlin last week, an overall Buy-In rate across the two sales topping 40% ultimately dampened the combined results. A number of positive surprises created some bounce, but the Total Sale Proceeds (of roughly €585K) came in well below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 184 |
| Aggregate Pre Sale Low Estimate | €700000 |
| Aggregate Pre Sale High Estimate | €975600 |
| Total Lots Sold | 110 |
| Total Lots Bought In | 74 |
| Buy In % | 40.22% |
| Total Sale Proceeds | €587674 |
Here is the breakdown (using our typical Low, Mid, and High definitions). Given recent currency fluctuations, we have once again re-adapted our local currency thresholds to match roughly $10000 and $50000 break points between categories.
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 170 |
| Total Low Lots Sold | 101 |
| Total Low Lots Bought In | 69 |
| Low Buy In % | 40.59% |
| Aggregate High Estimate of Low Lots | €524600 |
| Total Proceeds from Low Lots | €335174 |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 6 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 40.00% |
| Aggregate High Estimate of Mid Lots | €201000 |
| Total Proceeds from Mid Lots | €110000 |
| Total High Lots | 4 |
| Total High Lots Sold | 3 |
| Total High Lots Bought In | 1 |
| High Buy In % | 25.00% |
| Aggregate High Estimate of High Lots | €250000 |
| Total Proceeds from High Lots | €142500 |
The top lot by High estimate was lot 756, Ai Weiwei, June 1994, 1994, estimated at €50000-70000; it did not sell. The top outcome of the sales was tied between two lots: lot 720, Günther Förg, Barcelona Pavillon, 1998, estimated at €40000-60000, and lot 722, Wolfgang Tillmans, Äther, 2001, estimated at €40000-60000, both sold at €50000 (images above, via Grisebach).
96.36% of the lots that sold had proceeds in or above the estimate range and there were a total of 10 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):
Lot 1462, Bryan Adams, HM The Queen, Buckingham Palace, London, 2001, estimated at €7000-9000, sold at €21875
Lot 1469, Gertrud Arndt, Portrait Wera Meyer-Waldeck, Dessau, 1930/1984, estimated at €1000-1200, sold at €2500
Lot 1482, Sibylle Bergemann, Katharina Thalbach, Berlin, 1974/1992, estimated at €1800-2200, sold at €7000
Lot 1483, Sibylle Bergemann, Marisa und Gabriele, Sellin, 1981, estimated at €1800-2200, sold at €7250
Lot 1506, Andreas Feininger, Lyonel Feininger, 1928, estimated at €1000-1200, sold at €4000
Lot 1509, Benedict J. Fernandez, U.N. (Martin Luther King), 1967/later, estimated at €800-1000, sold at €2625
Lot 1511, Trude Fleischmann, Study with Glass Sphere, Vienna, 1923, estimated at €1200-1800, sold at €4750
Lot 1571, Man Ray, Boulevard Edgar Quinet à minuit, 1924, estimated at €7000-9000, sold at €40625
Lot 1597, Arnold Odermatt, Stansstad, 1966/later, estimated at €1200-1600, sold at €3500
Lot 1625, Umbo, Golden Gate Bridge, San Francisco, 1952/1995 (estate), estimated at €600-700, sold at €1625
Complete lot by lot results can be found here (Contemporary Art) and here (Photography).
